Risk Analyst - Marine & Cargo Insurance

Placements24; Mtubatuba Local Municipality; Hybrid; ZAR 600,000 - 1,100,000; Full time

Benefits offered by this job

Fully remote working arrangement

Health benefits

Professional development opportunities

International exposure

Job summary

Placements24 is seeking a highly analytical Risk Analyst specializing in Marine and Cargo insurance. The role focuses on risk assessment, quantification, and mitigation, collaborating with underwriting, claims and business development teams from a remote-friendly setup in Richards Bay, KwaZulu-Natal.

The ideal candidate has a strong quantitative background, marine insurance knowledge, and the ability to translate data into actionable insights. Relevant certifications are a plus.

Qualifications

• Bachelor's degree in Finance, Economics, Statistics, Maritime Studies or a related quantitative field.
• 4–6 years of risk analysis experience, preferably in marine/cargo insurance.
• Strong understanding of marine insurance principles, charter parties and cargo handling risks.
• Advanced analytical and quantitative skills; proficient in statistical modeling and data analysis tools (R, Python, SQL).
• Excellent report writing and presentation skills; ability to work independently in a remote environment.

Responsibilities

• Analyze complex risk data related to marine and cargo insurance policies.
• Develop and maintain risk models to quantify losses and assess pricing and reserves.
• Identify emerging risks and trends in the marine and cargo insurance market.
• Collaborate with underwriters to provide risk-based insights for policy terms.
• Assist claims in analyzing loss patterns and root causes.
• Develop and implement risk mitigation strategies and best practices.
• Prepare comprehensive risk reports for senior management.

Skills

Analytical thinking

Quantitative analysis

Stakeholder communication

Report writing

Presentation skills

Education

Bachelor's degree in Finance/ Economics/ Statistics/ Maritime Studies

Tools

R

Python

SQL

Job description

About the Role

Our client, a prominent international insurer with a significant presence in South Africa, is seeking a highly analytical and experienced Risk Analyst to specialize in Marine and Cargo insurance. This role, based in Richards Bay, KwaZulu-Natal, will involve the meticulous assessment, quantification, and mitigation of risks associated with maritime trade and cargo transportation. You will work closely with underwriting, claims, and business development teams to ensure that risk exposures are accurately understood and managed within acceptable parameters. The ideal candidate will possess a strong quantitative background, a deep understanding of marine insurance principles, and the ability to translate complex data into actionable insights. This is a remote-first position, offering unparalleled flexibility while requiring dedicated focus and a proactive approach to risk management across our client's South African operations. Your expertise will be crucial in safeguarding the company's assets and profitability in this complex and dynamic sector.

Key Responsibilities

• Analyze complex risk data related to marine and cargo insurance policies, including vessel operations, cargo types, trade routes, and geopolitical factors.
• Develop and maintain risk models to quantify potential losses and assess the adequacy of pricing and reserves.
• Identify emerging risks and trends within the marine and cargo insurance market.
• Collaborate with underwriters to provide risk-based insights and recommendations for policy terms and conditions.
• Assist the claims department in analyzing loss patterns and identifying root causes.
• Develop and implement risk mitigation strategies and best practices.
• Prepare comprehensive risk reports for senior management and stakeholders.
• Monitor the company's risk exposure against defined appetite and tolerance levels.
• Conduct due diligence on potential clients and partners involved in marine and cargo operations.
• Stay abreast of international maritime regulations, industry standards, and best practices in risk management.

Requirements

• A relevant degree in Finance, Economics, Statistics, Maritime Studies, or a related quantitative field.
• A minimum of 4-6 years of experience in risk analysis, preferably within the marine and cargo insurance sector.
• Strong understanding of marine insurance principles, charter parties, and cargo handling risks.
• Advanced analytical and quantitative skills, with proficiency in statistical modeling and data analysis tools (e.g., R, Python, SQL).
• Excellent report writing and presentation skills.
• Ability to work independently and manage multiple projects in a remote environment.
• Familiarity with South African maritime and insurance regulations.
• Problem-solving aptitude and the ability to think strategically.
• Proactive mindset with a keen eye for detail.
• Relevant professional certifications (e.g., PRM, FRM) are a plus.

Benefits

• Competitive salary and performance-based bonuses.
• Fully remote working arrangement, offering excellent flexibility.
• Comprehensive health and wellness benefits.
• Opportunities for continuous professional development and international exposure.
• Contribution to a leading global insurer's South African operations.
• Access to advanced data analytics tools and resources.
• Generous annual leave allowance.