Senior Insurance Risk Assessor

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

Benefits offered by this job

Medical aid

Pension fund

Professional development

Career advancement potential

Job summary

Placements24 in Johannesburg seeks a Senior Insurance Risk Assessor to evaluate and mitigate risks across life, short-term and health portfolios. The role focuses on developing risk models and providing expert risk advice.

You will collaborate with actuarial, underwriting and claims teams, prepare reports for senior management, and monitor regulatory changes to ensure robust risk management practice in the South African market.

Qualifications

• Bachelor's or Master's degree in a quantitative field.
• 5-7 years in insurance risk assessment or related role.
• Proven experience with statistical modeling software and data analysis tools.

Responsibilities

• Conduct in-depth analysis of insurance risks across products and portfolios.
• Develop and implement risk models to quantify financial exposures.
• Evaluate internal controls and risk mitigation strategies.

Skills

Statistical modeling

Actuarial analysis

Risk management

Data analysis

Communication skills

Education

Bachelor's or Master's in Actuarial Science/Statistics/Mathematics/Finance

Tools

R

Python

SAS

Job description

About the Role

Our client, a leading financial services provider, is seeking a highly experienced and analytical Senior Insurance Risk Assessor to join their dynamic team in Johannesburg. This pivotal role is responsible for evaluating and mitigating potential risks associated with new and existing insurance products and portfolios. You will play a crucial part in safeguarding the financial health of the company by ensuring robust risk management frameworks are in place. The ideal candidate possesses a deep understanding of actuarial principles, statistical modeling, and the South African insurance market. This is an excellent opportunity to contribute to a reputable organization and further develop your career in a challenging yet rewarding environment within Johannesburg.

Key Responsibilities

• Conduct in-depth analysis of insurance risks, including underwriting, claims, and operational risks.
• Develop and implement sophisticated risk models to quantify potential financial exposures.
• Evaluate the adequacy and effectiveness of internal controls and risk mitigation strategies.
• Collaborate with actuarial, underwriting, and claims departments to provide expert risk advice.
• Prepare comprehensive risk assessment reports for senior management and regulatory bodies.
• Monitor industry trends and regulatory changes, adapting risk management approaches as needed.
• Contribute to the development and enhancement of risk management policies and procedures.
• Identify emerging risks and propose proactive solutions to minimize potential impact.
• Ensure compliance with all relevant insurance regulations and internal policies.
• Mentor junior risk analysts and provide guidance on best practices.

Requirements

• A Bachelor's or Master's degree in Actuarial Science, Statistics, Mathematics, Finance, or a related quantitative field.
• A minimum of 5-7 years of experience in insurance risk assessment, actuarial analysis, or a closely related role.
• Proven experience with statistical modeling software (e.g., R, Python, SAS) and data analysis tools.
• Strong understanding of insurance products (Life, Short-Term, Health).
• Excellent analytical, problem-solving, and critical thinking skills.
• Proficiency in risk management frameworks and methodologies.
• Exceptional communication and presentation skills, with the ability to convey complex information clearly to diverse audiences.
• Experience working within the South African insurance market is highly advantageous.
• Professional certifications such as CFA, FRM, or actuarial qualifications are a plus.
• Ability to work effectively both independently and as part of a collaborative team in Johannesburg.

Benefits

Our client offers a competitive remuneration package, including a performance-based bonus structure. Employees benefit from a comprehensive medical aid scheme, a generous pension fund contribution, and opportunities for continuous professional development and further training. You will be part of a supportive and innovative work culture that values employee growth and well-being. This role also provides exposure to high-level strategic decision‑making within the organization, offering significant career advancement potential. Join us in Johannesburg and shape the future of risk management in the insurance sector.