Insurance Risk Analyst

Job Description

We are seeking a detail-oriented Insurance Risk Analyst to join our team in Durban. The successful candidate will play a crucial role in identifying, evaluating, and mitigating risks associated with insurance policies. This position demands strong analytical skills and an understanding of risk management principles.

Responsibilities

• Analyze customer data to identify risk factors related to insurance applications.
• Create risk profiles for new and existing policies.
• Support claims processing by reviewing risk assessments.
• Conduct research on industry best practices for risk management.
• Utilize quantitative analysis tools to model potential risks.
• Advise management on potential impacts of risk-taking decisions.
• Collaborate with IT to enhance data collection tools for risk analysis.
• Engage in continuous professional development to stay updated on risk management trends.
• Assist in the development of policies and procedures related to risk management.
• Communicate findings and recommendations effectively to relevant stakeholders.

Requirements

Education

• Bachelor's degree in Finance, Risk Management, or related field
• Postgraduate qualification is advantageous

Experience

• 3-5 years of experience in insurance risk analysis or a related field

Technical Skills

• Risk Assessment
• Data Analysis
• Regulatory Compliance
• Insurance Underwriting

Soft Skills

• Analytical Thinking
• Communication Skills
• Team Collaboration

Certifications

• Certified Risk Manager (CRM)
• Fellow of the Insurance Institute of South Africa (FIISA)

Languages

• English: Fluent
• Afrikaans: Conversational

Advantageous

• Experience with risk management software: Familiarity with tools such as RiskWatch or similar.
• Knowledge of quantitative risk modeling techniques: Ability to apply statistical methods for risk analysis.

Benefits

• Competitive salary package
• Health care benefits including dental and vision
• Retirement savings plan with company contributions
• Flexible work hours
• Employee wellness programs

Company Culture

• Diversity and Inclusion: We value diverse perspectives and promote a culture of inclusion.
• Innovation Driven: Our team is encouraged to bring forward fresh ideas and solutions.
• Collaborative Environment: We believe in teamwork and support each other to succeed.