Insurance Risk Analyst

Our client, a reputable insurance firm, is seeking a meticulous and analytical Insurance Risk Analyst to join their operations team in George, Western Cape, ZA. This role is vital for identifying, assessing, and mitigating potential risks across the company's insurance products and operations. The ideal candidate will possess a strong quantitative background, exceptional analytical skills, and a deep understanding of risk management principles within the insurance industry. This is an on-site position.

Key Responsibilities

• Analyze insurance policy data to identify trends, patterns, and potential risk exposures.
• Develop and implement risk assessment models and methodologies to quantify potential financial losses.
• Monitor and evaluate the effectiveness of existing risk mitigation strategies and controls.
• Research and stay informed about regulatory changes, market developments, and emerging risks that could impact the insurance business.
• Prepare detailed reports and presentations on risk exposures, findings, and recommendations for senior management.
• Collaborate with underwriting, claims, and actuarial departments to develop appropriate risk management strategies.
• Contribute to the development and implementation of internal risk policies and procedures.
• Assist in the preparation for internal and external audits related to risk management.
• Identify opportunities to improve data quality and analytical processes.
• Ensure compliance with all relevant insurance regulations and industry best practices.
• Support the development of new insurance products by assessing their associated risks.
• Conduct scenario analysis and stress testing to evaluate the company's resilience to adverse events.
• Maintain comprehensive records of risk assessments and mitigation activities.

Qualifications

• Bachelor's degree in Finance, Economics, Statistics, Mathematics, or a related quantitative field.
• Professional certifications such as FRM (Financial Risk Manager) or PRM (Professional Risk Manager) are highly advantageous.
• Minimum of 3 years of experience in risk management, preferably within the insurance or financial services sector.
• Strong understanding of risk management frameworks (e.g., ERM) and insurance principles.
• Excellent analytical, quantitative, and problem-solving skills.
• Proficiency in data analysis tools and software (e.g., Excel, SQL, R, Python) is essential.
• Familiarity with insurance data and reporting requirements.
• Strong communication and presentation skills, with the ability to convey complex information clearly.
• High level of accuracy and attention to detail.
• Ability to work independently and collaboratively in a team-oriented environment.
• Must be based in or willing to relocate to George, Western Cape, ZA for this on-site role.

This contractor position offers a competitive hourly rate and the chance to work within a key area of our insurance operations. Join our team and play a crucial role in safeguarding our company's financial stability.