Risk Analyst - Insurance Portfolio

Placements24; Randburg; Hybrid; ZAR 550,000 - 900,000; Full time

Benefits offered by this job

Competitive salary

Bonus opportunities

Medical aid

Retirement fund contributions

Professional development

Hybrid work model

Paid time off

Job summary

Placements24 in Randburg, Gauteng, seeks a highly analytical Risk Analyst to join our client's risk management team. You will identify, assess, and mitigate risks across a diverse insurance portfolio, develop risk models, and provide strategic insights to senior management.

The ideal candidate has a quantitative background, knowledge of insurance operations, and proficiency in SQL, Python, R, and Excel. A Bachelor's degree in a quantitative field and relevant certifications (PRM/FRM) are

Qualifications

• Bachelor's degree in a quantitative field is essential.
• PRM/FRM or actuarial progress is desirable.
• Minimum 4 years in risk analysis, preferably in insurance/financial services.
• Strong understanding of insurance products, operations and regulations.
• Advanced analytical, statistical, and modeling skills.
• Proficiency in data analysis tools (SQL, Python, R, Excel).
• Excellent written and verbal communication; able to explain complex concepts.

Responsibilities

• Identify, assess and quantify risks across the insurance portfolio.
• Develop and maintain risk models and methodologies.
• Analyze large datasets to identify trends and risk concentrations.
• Prepare comprehensive risk reports for senior management.
• Monitor effectiveness of risk mitigations and internal controls.
• Contribute to ERM framework development and implementation.
• Ensure compliance with insurance regulations and risk standards.
• Collaborate with business units to embed risk practices.
• Stay abreast of emerging risks and industry best practices.
• Assist in stress testing and scenario analysis.

Skills

Analytical skills

Statistical modeling

Data analysis

SQL

Python

R

Excel

Communication

Education

Bachelor's degree in Finance, Economics, Statistics, Mathematics or related quantitative field

Matriculation certificate

PRM/FRM (desirable)

Tools

SQL

Python

R

Excel

Job description

About the Role

Our client, a leading insurance group headquartered in Randburg, Gauteng , is seeking a highly analytical and detail-oriented Risk Analyst to join their sophisticated risk management team. This role is instrumental in identifying, assessing, and mitigating potential risks across the company's diverse insurance portfolio. You will be responsible for developing risk models, analyzing data, and providing strategic insights to senior management to support informed decision-making. The ideal candidate will have a strong quantitative background, a thorough understanding of insurance operations, and proficiency in risk management frameworks. This position offers a unique opportunity to work within a challenging and dynamic environment, contributing directly to the financial health and stability of the organization. The hybrid work arrangement offers a blend of on-site collaboration and remote flexibility, supporting a balanced professional life. Based in the business hub of Randburg , you will be exposed to a wide range of insurance products and market dynamics. We are looking for an individual who is proactive, possesses excellent problem-solving skills, and is passionate about quantative analysis and risk management. Your expertise will be crucial in navigating the complex risk landscape of the insurance industry and ensuring compliance with regulatory requirements. This role provides significant opportunities for professional growth and development in the field of risk management.

Key Responsibilities

• Identify, assess, and quantify various risks (financial, operational, strategic, compliance) across the insurance portfolio.
• Develop and maintain risk models and methodologies to assess portfolio exposures.
• Analyze large datasets to identify trends, patterns, and potential risk concentrations.
• Prepare comprehensive risk reports and present findings and recommendations to senior management.
• Monitor the effectiveness of risk mitigation strategies and internal controls.
• Contribute to the development and implementation of the company's enterprise risk management (ERM) framework.
• Ensure compliance with relevant insurance regulations and risk management standards.
• Collaborate with different business units to embed risk management practices.
• Stay abreast of emerging risks and industry best practices in risk management.
• Assist in stress testing and scenario analysis exercises.

Requirements

• Matriculation certificate or equivalent.
• A Bachelor's degree in Finance, Economics, Statistics, Mathematics, or a related quantitative field is essential.
• Professional certifications such as PRM, FRM, or progress towards actuarial exams are highly desirable.
• Minimum of 4 years of relevant experience in risk analysis, preferably within the insurance or financial services industry.
• Strong understanding of insurance products, operations, and regulatory requirements.
• Advanced analytical, statistical, and modeling skills.
• Proficiency in data analysis tools and software (e.g., SQL, Python, R, Excel).
• Excellent written and verbal communication skills, with the ability to explain complex concepts clearly.
• Strong problem-solving abilities and attention to detail.
• Ability to work effectively both independently and as part of a team in a hybrid environment.
• Must reside in or be willing to relocate to the vicinity of Randburg, Gauteng .

Benefits

• Competitive salary package based on experience and qualifications.
• Performance-based bonus opportunities.
• Comprehensive medical aid and retirement fund contributions.
• Significant opportunities for professional development and further certifications.
• Generous annual leave and paid time off.
• Collaborative and intellectually stimulating work environment.
• Hybrid work model providing flexibility.
• Exposure to diverse risk challenges within the insurance sector.