Senior Insurance Risk Analyst

Placements24; Randburg; On-site; ZAR 900,000 - 1,400,000; Full time

Benefits offered by this job

Health insurance

Life insurance

Disability insurance

Retirement savings plan

Hybrid work arrangement

Job summary

Placements24 is seeking a Senior Insurance Risk Analyst in Randburg to strengthen risk management across operations and product lines. You will identify, assess, and mitigate risks while developing and implementing strategies to ensure compliance and financial stability.

The role involves collaboration with actuarial, underwriting, and claims teams in a hybrid work setting, with opportunities for professional growth and qualifications in a dynamic insurer.

Qualifications

• Advanced degree in Finance, Economics, Statistics, Mathematics or related quantitative field.
• Proven experience as a Risk Analyst, preferably in insurance.
• Strong analytical, quantitative, and problem-solving skills with risk modeling expertise.
• Proficiency in statistical software and data analysis tools (R, Python, SQL).
• Excellent understanding of insurance operations, products, and regulatory requirements.
• Strong communication and presentation skills to convey complex risk information.

Responsibilities

• Develop and maintain risk models and frameworks to identify and quantify potential insurance risks.
• Analyze underwriting data, claims trends, and market information to assess risk exposure.
• Design and implement risk mitigation strategies and controls to minimize potential losses.
• Monitor regulatory changes and ensure compliance with risk management standards.
• Prepare comprehensive risk reports for senior management, highlighting key findings and recommendations.
• Collaborate with actuarial, underwriting, and claims departments to integrate risk management principles into business processes.

Skills

Analytical thinking

Quantitative skills

Communication skills

Education

Advanced degree in Finance, Economics, Statistics, Mathematics

Tools

R

Python

SQL

Job description

About the Role

Our client, a prominent insurer in Randburg , seeks an experienced Senior Insurance Risk Analyst to enhance its risk management capabilities. This role is vital for identifying, assessing, and mitigating potential risks across the company's operations and product lines. You will play a key part in developing and implementing risk management strategies, ensuring compliance, and contributing to the overall financial health and stability of the organization. Working in a hybrid model, you will collaborate with various departments, providing critical insights and analysis to inform strategic decision-making within our Gauteng operations.

Key Responsibilities

• Develop and maintain risk models and frameworks to identify and quantify potential insurance risks.
• Analyze underwriting data, claims trends, and market information to assess risk exposure.
• Design and implement risk mitigation strategies and controls to minimize potential losses.
• Monitor regulatory changes and ensure the company's compliance with risk management standards.
• Prepare comprehensive risk reports for senior management, highlighting key findings and recommendations.
• Collaborate with actuarial, underwriting, and claims departments to integrate risk management principles into business processes.

Requirements

• Advanced degree in Finance, Economics, Statistics, Mathematics, or a related quantitative field.
• Proven experience as a Risk Analyst , preferably within the insurance industry .
• Strong analytical, quantitative, and problem-solving skills with expertise in risk modeling techniques.
• Proficiency in statistical software and data analysis tools (e.g., R, Python, SQL).
• Excellent understanding of insurance operations, products, and regulatory requirements.
• Strong communication and presentation skills to convey complex risk information effectively.

Benefits

• Highly competitive annual salary with significant bonus potential.
• Comprehensive health, life, and disability insurance coverage.
• Retirement savings plan with employer matching contributions.
• Hybrid work arrangement offering flexibility between home and office in Randburg .
• Opportunities for professional growth, certifications, and advancement within the company.