Senior Insurance Risk Analyst

Placements24; Johannesburg; Hybrid; ZAR 900,000 - 1,300,000; Full time

Benefits offered by this job

Hybrid work model

Competitive salary

Medical aid & retirement fund

Professional development & training

Team events

Job summary

Placements24 is seeking a Senior Insurance Risk Analyst in Johannesburg. The role focuses on developing advanced risk models and monitoring regulatory changes to protect capital and liquidity.

You will collaborate with underwriting, claims, and actuarial teams to embed risk management into processes. The ideal candidate has 5+ years in risk management within insurance/FS, with strong technical and communication skills to convey complex insights to non-technical stakeholders.

Qualifications

• Bachelor's or Master's degree in a quantitative field (Finance, Economics, Statistics, Mathematics).
• Minimum 5 years in risk management, preferably in insurance or financial services.
• Strong knowledge of Solvency II and IFRS 17; regulatory reporting experience.

Responsibilities

• Develop and implement risk models to identify, assess, and quantify financial and operational risks.
• Monitor market trends, economic conditions, and regulatory changes affecting the portfolio.
• Prepare risk reports for senior management and regulators with clear recommendations.

Skills

Analytical thinking

Problem solving

Regulatory understanding

Communication

Risk management knowledge

Education

Bachelor's or Master's in Finance/ Economics/ Statistics/ Mathematics

Tools

Python

R

SQL

Excel VBA

Job description

About the Role

Our client, a leading name in the financial services sector, is seeking a highly analytical and detail-oriented Senior Insurance Risk Analyst to join their dynamic team in **Johannesburg**. This pivotal role involves assessing and mitigating various risks inherent in insurance operations, ensuring the financial health and stability of the organization. The successful candidate will play a crucial part in developing and implementing risk management strategies, contributing significantly to strategic decision-making and regulatory compliance. This position offers an excellent opportunity for a seasoned professional to make a substantial impact within a reputable company. The role is primarily office-based but offers a flexible Hybrid work arrangement, allowing for a balance between in-office collaboration and remote work. We are looking for an individual with a strong understanding of the insurance industry and a proven track record in risk assessment and management. The ideal candidate will possess exceptional problem-solving skills and the ability to translate complex data into actionable insights. This is a challenging yet rewarding career move for someone passionate about risk management in the insurance domain.

Key Responsibilities

• Develop and implement sophisticated risk models to identify, assess, and quantify financial and operational risks.
• Monitor and analyze market trends, economic conditions, and regulatory changes impacting the insurance portfolio.
• Prepare comprehensive risk reports for senior management and regulatory bodies, highlighting key findings and recommendations.
• Collaborate with underwriting, claims, and actuarial departments to integrate risk management principles into their processes.
• Design and conduct stress testing and scenario analysis to evaluate the resilience of the company's capital and liquidity.
• Propose and implement risk mitigation strategies and controls to minimize potential losses.
• Stay abreast of emerging risks and best practices in risk management within the insurance industry.
• Contribute to the development and refinement of the company's risk appetite framework.
• Effectively communicate complex risk concepts to non-technical stakeholders.

Requirements

• A Bachelor's or Master's degree in Finance, Economics, Statistics, Mathematics, or a related quantitative field.
• A minimum of 5 years of progressive experience in risk management, preferably within the insurance or financial services industry.
• Strong understanding of insurance products, operations, and regulatory requirements (e.g., Solvency II, IFRS 17).
• Proficiency in risk modeling software and statistical analysis tools (e.g., Python, R, SQL, Excel VBA).
• Excellent analytical, critical thinking, and problem-solving skills.
• Demonstrated ability to interpret complex data and present findings clearly and concisely.
• Strong communication and interpersonal skills, with the ability to build relationships across departments.
• Experience with regulatory reporting and compliance is highly desirable.
• Professional certifications such as FRM, PRM, or CFA are an advantage.
• Must be legally eligible to work in **Johannesburg**.

Benefits

• Competitive annual salary package and performance-based bonuses.
• Comprehensive medical aid and retirement fund contributions.
• Generous paid time off and annual leave allowance.
• Opportunities for professional development, training, and further certifications.
• A dynamic and collaborative work environment with a focus on employee growth.
• Access to cutting-edge technology and analytical tools.
• Hybrid work model promoting work-life balance.
• Pension fund with excellent benefits.
• Regular team-building activities and social events.