Senior Risk Analyst - Insurance Operations

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

Benefits offered by this job

Hybrid work model

Medical aid

Provident fund

Professional development

Job summary

Placements24 in Randburg is seeking a Senior Risk Analyst to lead operational risk management within our insurance-focused operations. You will build and refine risk frameworks, conduct assessments, and monitor KRIs/KPIs while guiding remediation and governance.

The ideal candidate offers 5+ years in risk management, strong analytical ability, and familiarity with FAIS/FICA regulations. Hybrid work model and opportunities for professional development are provided.

Qualifications

• Minimum of 5 years of risk management experience in financial services or insurance.
• Solid understanding of operational risk principles and tools.
• Experience in risk assessments, mitigation plans, and incident analysis.
• Excellent analytical, problem-solving and communication skills.
• Proficiency in risk management software and MS Office.

Responsibilities

• Develop, implement and maintain the operational risk management framework.
• Conduct risk assessments and identify vulnerabilities in processes.
• Monitor KRIs and KPIs; report to senior management.
• Develop risk mitigation strategies and action plans.
• Investigate incidents, determine root causes and recommend actions.
• Prepare risk reports for committees and management.
• Ensure compliance with FAIS, FICA and SOLVENCY requirements.
• Deliver risk training and promote risk culture across departments.
• Collaborate with teams to embed risk practices throughout the organisation.
• Stay updated on emerging risks and industry best practices.

Skills

Operational risk

Analytical thinking

Risk assessment

Incident analysis

MS Office

Report writing

Presentation skills

Communication

Teamwork

Education

CRISC certification

PRMIA certification

Tools

Risk management software

Job description

About the Role: Our client, a leading financial services provider, is seeking a highly skilled and analytical Senior Risk Analyst to join their operations in Randburg. This role is integral to identifying, assessing, and mitigating operational risks across the insurance business. You will be responsible for developing and implementing robust risk management frameworks, conducting risk assessments, and monitoring key risk indicators. The position offers a hybrid working model, providing flexibility while ensuring essential collaboration with teams across the Gauteng region. The ideal candidate will possess a strong understanding of insurance operations, risk management principles, and regulatory compliance. You will play a crucial role in safeguarding the company's assets, enhancing operational efficiency, and maintaining stakeholder confidence. This is a challenging and rewarding opportunity for a dedicated risk professional to make a significant impact within our client's Randburg operations.

Key Responsibilities

• Develop, implement, and maintain the operational risk management framework.
• Conduct comprehensive risk assessments and identify potential vulnerabilities in business processes.
• Monitor and analyze key risk indicators (KRIs) and key performance indicators (KPIs).
• Develop and implement risk mitigation strategies and action plans.
• Investigate risk incidents, determine root causes, and recommend corrective actions.
• Prepare risk reports for senior management and relevant committees.
• Ensure compliance with internal policies and external regulatory requirements related to risk management.
• Facilitate risk management training and awareness programs for staff.
• Collaborate with various departments to embed a strong risk culture throughout the organization.
• Stay abreast of emerging risks and industry best practices in risk management.

Requirements

• Minimum of 5 years of experience in risk management, preferably within the financial services or insurance sector.
• Strong understanding of operational risk principles, methodologies, and tools.
• Proven experience in conducting risk assessments, developing mitigation plans, and incident analysis.
• Excellent analytical, problem-solving, and critical thinking skills.
• Proficiency in risk management software and MS Office Suite.
• Strong report writing and presentation skills.
• Knowledge of relevant regulatory frameworks (e.g., FAIS, FICA, Solvency Assessment and Management).
• Relevant professional certifications (e.g., CRISC, PRMIA) are highly desirable.
• Ability to work effectively both independently and collaboratively in a team environment.
• Strong communication and influencing skills.

Benefits

• competitive salary package, including performance bonuses.
• medical aid.
• provident fund.
• opportunities for professional development and certifications.
• hybrid work model provides flexibility and promotes work-life balance.
• Join a forward-thinking team in Randburg and contribute to the robust risk management of a leading insurance organization.