Senior Risk Analyst – Insurance Risk Modeling (Durban, Hybrid)

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

Benefits offered by this job

Competitive compensation

Medical aid

Retirement savings plan

Professional development opportunities

Annual leave and flexible working

Job summary

Placements24 is seeking a Senior Risk Analyst for its Durban, KwaZulu-Natal client in the insurance sector. The role centers on identifying, assessing, and mitigating a broad range of risks with emphasis on specialty lines.

You will develop risk models, quantify impacts, and present findings to senior management. The ideal candidate has 5+ years in risk analysis, robust quantitative skills, and experience with Solvency II-like frameworks.

Qualifications

• Master's degree in a quantitative field (Statistics/ Mathematics/ Finance/ Economics).
• Minimum 5 years in risk analysis, preferably in insurance.
• Proven expertise in statistical modeling, data analysis and risk assessment.
• Strong understanding of insurance operations and financial principles.
• Proficiency in R, Python, SQL, SAS.
• Excellent analytical, problem-solving and communication skills.
• Familiarity with Solvency II or similar regulatory frameworks.
• Ability to work independently and in a team.
• Familiarity with Durban insurance market is a plus.

Responsibilities

• Conduct comprehensive risk assessments for new and existing insurance products and operations.
• Develop, implement, and maintain sophisticated risk models and methodologies.
• Identify emerging risks and trends affecting the insurance industry and the company's portfolio.
• Quantify potential financial impacts of various risk scenarios.
• Collaborate with underwriting, claims, and actuarial departments to integrate risk management principles.
• Prepare detailed reports and presentations on risk exposures and mitigation strategies for senior leadership.
• Monitor the effectiveness of risk controls and recommend improvements.
• Stay abreast of regulatory changes and ensure compliance with all risk management requirements.
• Contribute to the development and enhancement of the company's overall risk management framework.
• Mentor junior analysts and provide technical guidance.

Skills

Statistical modeling

Data analysis

Risk assessment

Communication skills

Problem solving

Team collaboration

Education

Master's degree in Statistics, Mathematics, Finance, Economics, or related quantitative field

Tools

R

Python

SQL

SAS

Job description

Placements24 is seeking a Senior Risk Analyst for its Durban, KwaZulu-Natal client in the insurance sector. The role centers on identifying, assessing, and mitigating a broad range of risks with emphasis on specialty lines.

You will develop risk models, quantify impacts, and present findings to senior management. The ideal candidate has 5+ years in risk analysis, robust quantitative skills, and experience with Solvency II-like frameworks.