Risk Analyst - Insurance Portfolio

Placements24; Soweto; Hybrid; ZAR 700,000 - 900,000; Full time

Benefits offered by this job

Competitive salary

Medical aid

Retirement fund

Professional development

Fully remote work

Job summary

Placements24 is seeking a sharp Risk Analyst for a leading insurer in the Gauteng region. This fully remote role focuses on evaluating underwriting, operational and financial risks within the insurance portfolio.

You will develop risk models, perform stress testing, monitor KRIs, and provide insights to support strategic decisions while collaborating with underwriting, claims and finance teams. A strong quantitative background and actuarial awareness are essential.

Qualifications

• Bachelor's degree in a quantitative field (Actuarial/Math/Stats/Finance).
• 4+ years in risk management within the insurance industry.
• Proficiency in Python or R and data analysis tools.

Responsibilities

• Analyze the risk profile of the insurance portfolio and identify exposures.
• Develop, implement, and validate risk models and metrics.
• Conduct stress testing and scenario analysis on financial position.
• Monitor KRIs and emerging risks for reporting to management.
• Collaborate with underwriting, claims and finance to manage risks.
• Enhance risk management framework and policies.
• Prepare risk reports for senior management and committees.
• Stay updated on industry best practices and regulatory requirements.

Skills

Analytical thinking

Problem solving

Written and verbal communication

Education

Bachelor's degree in Actuarial Science/Mathematics/Statistics/Finance

Tools

Python

R

Data analysis tools

Job description

About the Role

Our client, a leading insurer with a significant presence in the Gauteng region, is seeking a sharp and analytical Risk Analyst to join their robust risk management team. This fully remote position involves evaluating and managing the risks associated with the company's insurance portfolio, including underwriting, operational, and financial risks. You will be responsible for developing risk models, conducting stress testing, analyzing risk exposures, and providing insights to inform strategic decision-making. The ideal candidate will possess strong quantitative skills, a deep understanding of insurance principles, and proficiency in risk assessment methodologies. This is an excellent opportunity for a motivated professional to contribute to the stability and success of a major financial institution, leveraging the flexibility of a remote work environment. You will play a key role in identifying and mitigating potential threats to the company's profitability and solvency, ensuring sound risk practices are maintained across all operations originating from the Soweto area and beyond.

Key Responsibilities

• Analyze the risk profile of the insurance portfolio, identifying key exposures and potential vulnerabilities.


• Develop, implement, and validate risk models and metrics to quantify and monitor risk.


• Conduct stress testing and scenario analysis to assess the impact of adverse events on the company's financial position.


• Monitor and report on key risk indicators (KRIs) and emerging risks.


• Collaborate with underwriting, claims, and finance teams to understand and manage risks within their respective areas.


• Contribute to the development and enhancement of the company's risk management framework and policies.


• Prepare clear and concise risk reports for senior management and relevant committees.


• Stay abreast of industry best practices and regulatory requirements related to insurance risk management.

Requirements

• A Bachelor's degree in Actuarial Science, Mathematics, Statistics, Finance, or a related quantitative field.


• A minimum of 4 years of experience in risk management, actuarial science, or a related analytical role within the insurance industry.


• Strong understanding of insurance products, underwriting, and claims processes.


• Proficiency in statistical software, programming languages (e.g., Python, R), and data analysis tools.


• Excellent analytical, quantitative, and problem-solving skills.


• Strong written and verbal communication skills, with the ability to present complex information effectively.


• Ability to work independently, manage multiple projects, and meet deadlines in a remote setting.


• Progress towards actuarial or risk management certifications is advantageous.

Benefits

• Competitive salary and performance-based bonus opportunities.


• Comprehensive medical aid, retirement fund, and life insurance benefits.


• Generous opportunities for professional development, training, and certification support.


• The significant advantage of a fully remote work arrangement.


• A chance to contribute significantly to the risk strategy of a major insurer in the Soweto and Gauteng region.


• Access to sophisticated risk modeling software and data analytics platforms.