Risk Analyst - Marine Insurance

Placements24; Mtubatuba Local Municipality; Hybrid; ZAR 600,000 - 900,000; Full time

Benefits offered by this job

Medical aid

Retirement fund

Bonuses

Hybrid work

Professional development

Job summary

Placements24 is seeking a meticulous Risk Analyst for a leading marine insurance underwriter in Richards Bay, KwaZulu-Natal. The role focuses on identifying, assessing, and quantifying marine risk across cargo, hull, and liability portfolios.

You will develop risk models, monitor market shifts, and collaborate with underwriters to define appetite and limits. The position offers a hybrid work model in a dynamic insurance environment with opportunities for professional growth.

Qualifications

• Bachelor's or master's degree in stats, math, econ, finance or related quantitative field.
• Minimum 3 years of risk analysis experience in insurance or maritime sector.
• Strong knowledge of risk management principles and modelling methods.
• Proficiency in R, Python, SAS and Excel.
• Excellent analytical, problem-solving and communication skills.

Responsibilities

• Analyze marine insurance risks including cargo, hull, and liability exposures.
• Build and maintain risk models to quantify potential losses.
• Assess financial impact of risk scenarios and market changes.
• Provide risk mitigations and guidance to underwriters and management.
• Monitor industry trends and regulatory changes affecting marine insurance.
• Collaborate with underwriters to align risk appetite and limits.
• Prepare reports for senior management and stakeholders.
• Assist in developing underwriting tools and methodologies.
• Maintain knowledge of global shipping regulations and trade.

Skills

Statistical modeling

Analytical ability

Communication skills

Project management

Education

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

Tools

R

Python

SAS

Excel

Job description

About the Role

Our client, a significant underwriter of specialized insurance products, is looking for a meticulous Risk Analyst to join their team in Richards Bay, KwaZulu-Natal. This role is integral to identifying, assessing, and quantifying potential risks associated with marine insurance portfolios. You will be responsible for developing and implementing risk management strategies to safeguard the company's assets and profitability. The ideal candidate will possess strong analytical capabilities, a deep understanding of risk modeling, and specialized knowledge of marine operations and associated perils. This is an excellent opportunity for a quantitative professional to contribute to critical decision-making processes within a niche segment of the insurance market in KwaZulu-Natal.

Key Responsibilities

• Analyze complex marine insurance risks, including cargo, hull, and liability exposures.
• Develop and maintain sophisticated risk models to quantify potential losses.
• Assess the financial impact of various risk scenarios and market fluctuations.
• Provide expert advice on risk mitigation strategies to underwriters and management.
• Monitor industry trends and regulatory changes affecting marine insurance.
• Collaborate with underwriters to ensure appropriate risk appetite and limits are adhered to.
• Investigate and report on significant loss events and their root causes.
• Develop and present risk assessment reports to senior management and stakeholders.
• Contribute to the development of new underwriting tools and methodologies.
• Maintain a comprehensive understanding of global shipping, trade, and maritime regulations.

Requirements

• A Bachelor's or Master's degree in Statistics, Mathematics, Economics, Finance, or a related quantitative field.
• Minimum of 3 years of experience in risk analysis, preferably within the insurance or maritime industry.
• Strong understanding of risk management principles and methodologies.
• Proficiency in statistical modeling software (e.g., R, Python, SAS) and Excel.
• Excellent analytical, problem-solving, and critical thinking skills.
• Knowledge of marine insurance products and operations is highly advantageous.
• Strong written and verbal communication skills, with the ability to present complex data clearly.
• Ability to work collaboratively in a team environment and manage projects independently.
• Detail-oriented with a high degree of accuracy.
• Resident or willing to commute to Richards Bay, KwaZulu-Natal.

Benefits

Our client offers a competitive salary commensurate with experience, along with comprehensive benefits including medical aid, a retirement fund, and performance-based bonuses. This role adopts a Hybrid working model, allowing for a balance between in-office collaboration and remote flexibility. Employees benefit from ongoing professional development opportunities and a supportive work environment in the scenic KwaZulu-Natal region. Join a specialized team that values analytical expertise and offers a clear path for career growth within the insurance sector.