Senior Insurance Risk Assessor

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

Benefits offered by this job

Hybrid work model

Competitive salary

Medical aid and retirement fund

Performance bonuses

Professional development and certs

Team-building events

Job summary

Placements24 is seeking a Senior Insurance Risk Assessor in Midrand, Gauteng. The role blends on-site collaboration with remote flexibility to manage risk across life, health, property and casualty lines.

You will lead advanced modelling, data analysis and strategic risk recommendations for a forward-thinking financial services organisation. The ideal candidate holds a quantitative degree with 5–7 years in risk roles, and strong skills in R, Python or SAS, plus regulatory knowledge such as

Qualifications

• Bachelor's in a quantitative field is required.
• 5–7 years in insurance risk, underwriting, or actuarial roles.
• Proficient in R, Python or SAS for modelling.

Responsibilities

• Develop and implement advanced risk assessment models for insurance products.
• Analyze large datasets to identify risk factors and trends across lines.
• Review underwriting policies and claims data to assess exposure and suggest adjustments.
• Collaborate with actuarial, underwriting, and claims teams on risk management strategies.
• Prepare detailed risk reports and presentations for senior management.

Skills

R

Python

SAS

Excel

PowerPoint

Data analysis

Education

Bachelor's degree in Actuarial Science/Statistics/Math/Finance/Economics

Master's degree

Tools

Solvency II knowledge

Job description

About the Role

Our client, a leading name in the insurance sector, is seeking a highly analytical and experienced Senior Insurance Risk Assessor to join their dynamic team in Midrand, Gauteng. This pivotal role involves evaluating and mitigating complex risks associated with various insurance products. The successful candidate will play a crucial part in ensuring the financial stability and profitability of our client's operations by applying sophisticated risk assessment methodologies. This is an exceptional opportunity to contribute to a forward-thinking company and to advance your career in a challenging yet rewarding environment. We are committed to fostering a collaborative workplace where your expertise is valued and your professional growth is supported. This role offers a blend of on-site collaboration and remote flexibility, allowing for a balanced work-life integration in the vibrant business hub of Midrand.

Key Responsibilities

• Develop and implement advanced risk assessment models for new and existing insurance products.
• Analyze large datasets to identify potential risk factors and trends across various insurance lines (e.g., life, health, property, casualty).
• Conduct in-depth reviews of underwriting policies and claims data to assess exposure and recommend adjustments.
• Collaborate with actuarial, underwriting, and claims departments to provide expert advice on risk management strategies.
• Prepare detailed reports and presentations for senior management, outlining risk exposure, mitigation plans, and potential financial impacts.
• Monitor regulatory changes and industry best practices to ensure compliance and identify emerging risks.
• Develop and deliver training sessions to internal teams on risk assessment principles and practices.
• Contribute to the development of risk appetite statements and tolerance levels for the organization.
• Conduct scenario analysis and stress testing to evaluate the resilience of the insurance portfolio under adverse conditions.
• Maintain and enhance the company's risk management framework and tools.

Requirements

• A Bachelor's degree in Actuarial Science, Statistics, Mathematics, Finance, Economics, or a related quantitative field.
• A Master's degree is advantageous.
• Minimum of 5-7 years of progressive experience in insurance risk assessment, underwriting, or actuarial roles.
• Proven experience with statistical modeling software (e.g., R, Python, SAS) and data analysis tools.
• In-depth understanding of insurance principles, products, and regulatory requirements within the South African market.
• Excellent analytical, problem-solving, and critical thinking skills.
• Strong communication and interpersonal skills, with the ability to present complex information clearly to diverse audiences.
• Demonstrated ability to work independently and as part of a team, managing multiple projects simultaneously.
• Proficiency in Microsoft Office Suite, particularly Excel and PowerPoint.
• Experience with Solvency II or similar regulatory frameworks is a plus.
• Professional certifications such as ACII, FLMI, or similar are highly desirable.

Benefits

• Competitive annual salary package designed to attract top talent.
• Comprehensive medical aid and retirement fund contributions.
• Performance-based bonuses and annual salary reviews.
• Opportunities for professional development, continuous learning, and advanced certifications.
• A hybrid work model that balances office-based collaboration with remote work flexibility.
• Generous leave allowance.
• Access to state-of-the-art technology and resources.
• A supportive and inclusive work environment that promotes employee well-being.
• Regular team-building events and social activities.
• The chance to make a significant impact within a reputable financial services organization.