Risk Manager - Insurance

Placements24; Durban; Hybrid; ZAR 1,200,000 - 1,800,000; Full time

Benefits offered by this job

Medical aid

Retirement fund

Generous annual leave

Hybrid work model

Job summary

Placements24 is partnering with a leading insurance group in Durban to recruit an experienced Risk Manager. The role focuses on identifying, assessing, and mitigating risks across the organization, shaping robust ERM frameworks, and influencing stakeholders at all levels.

The ideal candidate has 8+ years in risk management within financial services or insurance, strong analytical ability, and proficiency in risk software and MS Office. Hybrid work setup in Durban is offered.

Qualifications

• Master's degree in Finance, Risk Management, MBA, or related field.
• Minimum 8 years of risk management experience.
• Experience developing and implementing ERM frameworks.
• Strong knowledge of risk assessment methodologies, financial modelling, and control frameworks.
• Excellent analytical, problem-solving, and strategic thinking skills.
• Exceptional communication and stakeholder management abilities.
• Knowledge of South African financial services regulations.
• CRM/PRMIA/FRM certifications desirable.
• Ability to lead cross-functional teams.
• Proficiency in risk management software and MS Office.

Responsibilities

• Develop and maintain the company's enterprise-wide ERM framework.
• Identify, assess, and prioritize key risks facing the organization, including financial, operational, strategic, and compliance risks.
• Design and execute risk mitigation strategies and action plans.
• Conduct regular risk assessments and audits across various business units.
• Develop key risk indicators (KRIs) and monitor risk exposure against set thresholds.
• Prepare comprehensive risk reports for senior management and the board of directors.
• Ensure compliance with relevant industry regulations and statutory requirements.
• Facilitate risk management training and awareness programs for employees.
• Investigate and analyze incidents, near misses, and risk events to identify root causes and prevent recurrence.
• Stay abreast of emerging risks and industry best practices in risk management.

Skills

ERM framework design

Risk assessment

Stakeholder management

Analytical thinking

Strategic thinking

Education

Master's degree in Finance/Risk Management/MBA

Tools

MS Office Suite

Risk management software

Job description

About the Role

Our client, a prominent insurance group with a significant presence in Durban , KwaZulu-Natal, is looking for an experienced and strategic Risk Manager. This critical role will be responsible for identifying, assessing, and mitigating operational, financial, and strategic risks across the organization. You will develop and implement robust risk management frameworks, policies, and procedures to safeguard the company's assets and reputation. The ideal candidate will possess a strong analytical mindset, a comprehensive understanding of risk management principles within the insurance sector, and the ability to influence stakeholders at all levels. This position offers an exciting opportunity to make a substantial impact on the company's resilience and long‑term success in the dynamic South African market, based in Durban .

Key Responsibilities

• Develop, implement, and maintain the company's enterprise‑wide risk management (ERM) framework.
• Identify, assess, and prioritize key risks facing the organization, including financial, operational, strategic, and compliance risks.
• Design and execute risk mitigation strategies and action plans.
• Conduct regular risk assessments and audits across various business units.
• Develop key risk indicators (KRIs) and monitor risk exposure against set thresholds.
• Prepare comprehensive risk reports for senior management and the board of directors.
• Ensure compliance with relevant industry regulations and statutory requirements.
• Facilitate risk management training and awareness programs for employees.
• Investigate and analyze incidents, near misses, and risk events to identify root causes and prevent recurrence.
• Stay abreast of emerging risks and industry best practices in risk management.

Requirements

• Master's degree in Finance, Risk Management, Business Administration, or a related quantitative field.
• Minimum of 8 years of experience in risk management, preferably within the financial services or insurance industry.
• Proven experience in developing and implementing ERM frameworks.
• Strong understanding of risk assessment methodologies, financial modeling, and control frameworks.
• Excellent analytical, problem‑solving, and strategic thinking skills.
• Exceptional communication, presentation, and stakeholder management abilities.
• Knowledge of South African regulatory landscape for financial services.
• Professional certifications such as CRM, PRMIA, or FRM are highly desirable.
• Ability to lead and influence cross‑functional teams.
• Proficiency in risk management software and MS Office Suite.

Benefits

• Highly competitive salary and performance‑related bonus structure.
• Comprehensive medical aid and retirement fund benefits.
• Generous annual leave and flexible working arrangements.
• Significant opportunities for professional growth and continuous learning.
• Hybrid work model for optimal work‑life balance in Durban .
• Exposure to diverse business operations and strategic decision‑making.
• Collaborative and forward‑thinking corporate culture.
• Employee wellness programs and access to professional support services.
• Pension scheme with excellent company contributions.
• Rewarding career path in a leading insurance firm.