Senior Insurance Risk Manager

Placements24; Mbombela (Nelspruit); Hybrid; ZAR 1,000,000 - 1,800,000; Full time

Benefits offered by this job

Hybrid work arrangement

Executive health benefits

Retirement fund contributions

Bonuses and potential equity

Professional development and conf.

Job summary

Placements24 is seeking a Senior Insurance Risk Manager for a leading financial services institution in Nelspruit, Mpumalanga. You will oversee the ERM framework for insurance operations, identify and mitigate risks, and ensure regulatory compliance including Solvency II and IFRS 17.

This role requires strategic thinking, deep insurance knowledge, and strong leadership. You will lead a risk team, develop governance structures, and report to executives.

Qualifications

• Master's degree in Finance, Economics, Risk Management, or related field.
• Minimum 7 years in risk management, with a significant focus on insurance.
• FRM/PRM/ACII are desirable.
• Hybrid work from Nelspruit office.

Responsibilities

• Develop and maintain the enterprise risk management (ERM) framework for insurance operations.
• Identify, assess, and monitor key risks including market, credit, operational, and underwriting risks.
• Design and implement risk mitigation strategies and control measures.
• Prepare comprehensive risk reports for senior management and the board of directors.
• Ensure compliance with Solvency II and IFRS 17.
• Conduct regular risk assessments and stress testing exercises.
• Lead and mentor a team of risk management professionals.

Skills

Analytical thinking

Problem solving

Strategic thinking

Leadership

Communication

Stakeholder management

Education

Master's degree in Finance/Economics/Risk Management

Tools

Risk modeling software

Data analysis tools

Job description

About the Role

Our client, a leading financial services institution specializing in insurance, is seeking a highly skilled and experienced Senior Insurance Risk Manager to join their team in Nelspruit, Mpumalanga. This senior role is responsible for overseeing and managing the identification, assessment, and mitigation of risks across the organization's insurance operations. You will play a crucial role in developing and implementing robust risk management frameworks, policies, and procedures to ensure the company's financial stability and regulatory compliance. The ideal candidate will possess a deep understanding of insurance products, market dynamics, and enterprise risk management principles. This is a challenging and rewarding opportunity to lead risk initiatives within a dynamic environment and contribute to the strategic direction of our client in Nelspruit.

Key Responsibilities

• Develop, implement, and maintain the enterprise risk management (ERM) framework for insurance operations.
• Identify, assess, and monitor key risks including market, credit, operational, and underwriting risks.
• Design and implement risk mitigation strategies and control measures.
• Prepare comprehensive risk reports for senior management and the board of directors.
• Ensure compliance with relevant regulatory requirements (e.g., Solvency II, IFRS 17).
• Conduct regular risk assessments and stress testing exercises.
• Collaborate with internal audit and other departments to ensure effective risk governance.
• Provide guidance and training on risk management best practices to relevant stakeholders.
• Stay abreast of emerging risks and industry trends, adapting strategies accordingly.
• Lead and mentor a team of risk management professionals.

Requirements

• Master's degree in Finance, Economics, Risk Management, or a related quantitative field.
• Minimum of 7 years of experience in risk management, with a significant focus on the insurance industry.
• Proven experience in developing and implementing ERM frameworks.
• Strong knowledge of insurance products, regulations, and risk modeling techniques.
• Excellent analytical, problem-solving, and strategic thinking skills.
• Proficiency in risk management software and data analysis tools.
• Exceptional communication, presentation, and leadership skills.
• Ability to manage complex projects and influence decision-making at senior levels.
• Professional certifications such as FRM, PRM, or ACII are highly desirable.
• Must be able to work from our Nelspruit, Mpumalanga office on a hybrid basis.

Benefits

• Competitive annual salary of R .
• Hybrid work arrangement offering flexibility.
• Significant opportunities for career advancement and leadership.
• Comprehensive executive health benefits.
• Generous retirement fund contributions.
• Performance-based bonuses and potential for equity.
• Professional development and conference attendance support.