Senior Insurance Risk Analyst

Placements24; Midrand; Hybrid; ZAR 900,000 - 1,200,000; Full time

Benefits offered by this job

Annual bonus

Medical aid

Provident fund

Professional development

Job summary

Placements24 in Midrand, Gauteng, is seeking a Senior Insurance Risk Analyst to evaluate and mitigate risks across the insurance portfolio. The role combines on-site collaboration with remote flexibility and requires expertise in actuarial modeling, data analysis, and SA regulatory frameworks.

You will develop risk management strategies, provide insights to shape business decisions, and mentor junior analysts in a dynamic team.

Qualifications

• Masters degree in a quantitative field required.
• Minimum 5 years in insurance risk management or actuarial analysis.
• Proficiency with statistical tools and risk mgmt software.
• Strong analytical, communication, and presentation skills.

Responsibilities

• Develop, implement, and maintain risk assessment frameworks and models for insurance products.
• Analyze market trends, economic conditions, and regulatory changes to identify risks and opportunities.
• Conduct stress testing and scenario analysis to evaluate portfolio resilience.
• Collaborate with underwriting, claims and finance for integrated risk management.
• Prepare risk reports and present findings to senior management and committees.
• Monitor KRIs and develop mitigation strategies.

Skills

Statistical modeling

Actuarial principles

Data analysis

Communication

Education

Master’s degree in Actuarial Science/Statistics/Finance/Mathematics

Tools

R

Python

SAS

Job description

About the Role

Our client, a leading player in the financial services sector, is seeking a highly analytical and detail-oriented Senior Insurance Risk Analyst to join their dynamic team in Midrand, Gauteng . This pivotal role will involve evaluating and mitigating various risks across the insurance portfolio, ensuring the company's financial stability and compliance with regulatory standards. You will be instrumental in developing and implementing risk management strategies, providing crucial insights that shape business decisions. The ideal candidate possesses a strong understanding of actuarial principles, statistical modeling, and the South African insurance market. This is an exceptional opportunity to contribute significantly to a reputable organization while advancing your career in a challenging and rewarding environment. The position offers a blend of on-site collaboration and remote flexibility, making it ideal for professionals who value both teamwork and autonomy.

Key Responsibilities

• Develop, implement, and maintain risk assessment frameworks and models for insurance products.
• Analyze market trends, economic conditions, and regulatory changes to identify potential risks and opportunities.
• Conduct stress testing and scenario analysis to evaluate the resilience of the insurance portfolio.
• Collaborate with underwriting, claims, and finance departments to ensure integrated risk management.
• Prepare comprehensive risk reports and present findings to senior management and relevant committees.
• Monitor and report on key risk indicators (KRIs) and develop appropriate mitigation strategies.
• Ensure compliance with all relevant South African insurance regulations (e.g., Solvency Assessment and Management).
• Stay abreast of industry best practices and emerging risk management techniques.
• Contribute to the continuous improvement of risk management processes and tools.
• Provide guidance and mentorship to junior risk analysts.

Requirements

• A Master's degree in Actuarial Science, Statistics, Finance, Mathematics, or a related quantitative field.
• A minimum of 5 years of experience in insurance risk management, actuarial analysis, or a related field.
• Proven experience with statistical modeling software (e.g., R, Python, SAS) and risk management tools.
• Strong understanding of insurance principles, products, and the regulatory landscape in South Africa .
• Excellent analytical, problem-solving, and critical thinking skills.
• Proficiency in data analysis and interpretation.
• Exceptional communication and presentation skills, with the ability to articulate complex concepts to diverse audiences.
• Ability to work independently and as part of a collaborative team in a hybrid work setting.
• Professional certifications such as CFA or FRM are advantageous.

Benefits

• Our client offers a competitive remuneration package commensurate with experience, including an attractive annual bonus.
• Employees benefit from a comprehensive medical aid plan, a generous provident fund contribution, and opportunities for professional development and further training.
• You will be part of a supportive and innovative work culture that encourages professional growth.
• This role also provides access to cutting-edge technology and resources, enabling you to perform at your best.
• Additionally, there are opportunities for career advancement within the organization, both within the risk department and other business units.