Risk Assessment Analyst Job Vacancy in Chipata, Zambia – Insurance
Job Description
Position:Risk Assessment Analyst
Company:Old Mutual Zambia
Location:Chipata, Zambia
Experience:2-4 years
Education:Bachelor’s degree in Finance, Economics, Actuarial Science or related field
Employment Type:Full-time
Industry:Insurance
Department:Risk Management
Salary:SSP 120,000 – 180,000 per month
Vacancies:1
Company Overview
Old Mutual Zambia is a leading provider of insurance and financial services across Southern Africa, renowned for its commitment to customer centricity, innovation, and sustainable growth. With a strong presence in Zambia for over two decades, the company offers a diverse portfolio ranging from life and health insurance to asset management and retirement solutions. As part of a global brand, Old Mutual Zambia integrates international best practices with local market insight, creating a dynamic environment where employees can develop expertise while contributing to the nation’s economic resilience. The Chipata branch serves a vibrant community, supporting both urban and rural clients, and plays a pivotal role in expanding insurance penetration in the Eastern Province. This position offers a unique opportunity to join a forward‑thinking team that values analytical rigor, ethical standards, and continuous professional development, making it an ideal stepping stone for ambitious risk professionals seeking to make a tangible impact on Zambia Jobs and the broader financial sector.
Old Mutual’s commitment to corporate social responsibility is evident through its community outreach programs, financial literacy initiatives, and partnerships with local NGOs. By fostering a culture of inclusion and empowerment, the company ensures that every employee can thrive, contributing to the overarching goal of delivering reliable and affordable insurance solutions across the country.
Job Overview
The Risk Assessment Analyst will be responsible for evaluating insurance risks, developing risk models, and providing actionable insights to underwriters and senior management. This role is central to maintaining the integrity of Old Mutual’s underwriting processes, ensuring that policies are priced accurately and aligned with the company’s risk appetite. The analyst will collaborate closely with cross‑functional teams, including actuarial, claims, and sales, to support data‑driven decision making and enhance the overall risk management framework. By leveraging advanced analytical tools and industry best practices, the successful candidate will help safeguard the company’s financial stability while contributing to the growth of insurance adoption in Chipata and surrounding regions.
Key objectives include identifying emerging risk trends, conducting quantitative analyses, and presenting findings in clear, concise reports that support strategic initiatives. The role also involves continuous monitoring of portfolio performance, recommending adjustments to risk parameters, and ensuring compliance with regulatory standards set by the Insurance Authority of Zambia.
Key Responsibilities
- Analyze and assess risk profiles for new and existing insurance proposals using statistical models and industry benchmarks.
- Develop and maintain risk rating tools, ensuring they reflect current market conditions and regulatory requirements.
- Collaborate with underwriters to provide risk insights that influence pricing, policy terms, and coverage limits.
- Prepare detailed risk assessment reports and present findings to senior management and stakeholders.
- Monitor portfolio performance, identify loss trends, and recommend mitigation strategies.
- Support the development of risk mitigation policies and procedures in line with corporate governance standards.
- Stay updated on local and global insurance trends, regulatory changes, and emerging risk factors affecting the Zambian market.
Required Skills
- Strong analytical and quantitative skills with proficiency in Excel, SQL, and statistical software (e.g., R, SAS, Python).
- Excellent written and verbal communication abilities to convey complex risk concepts clearly.
- Attention to detail and a methodical approach to data validation and model development.
- Ability to work collaboratively in multidisciplinary teams and manage multiple priorities.
- Knowledge of Zambian insurance regulations and market dynamics.
Education
The candidate must hold a Bachelor’s degree in Finance, Economics, Actuarial Science, Mathematics, or a related discipline. Professional certifications such as FRM (Financial Risk Manager) or actuarial qualifications are advantageous but not mandatory.
Experience
Applicants should possess 2‑4 years of experience in risk assessment, underwriting support, actuarial analysis, or a comparable role within the insurance or financial services sector. Experience with risk modeling and exposure analysis in emerging markets is highly valued.
Salary
The position offers a competitive salary range of SSP 120,000 to 180,000 per month, commensurate with experience and qualifications. Performance‑based bonuses and annual salary reviews are part of the compensation package.
Benefits
- Comprehensive health and life insurance coverage.
- Retirement savings plan with employer contributions.
- Paid annual leave and statutory holidays.
- Professional development allowance for certifications and training.
- Employee assistance program and wellness initiatives.
Training
- Onboarding program covering Old Mutual’s risk framework, systems, and compliance standards.
- Access to internal and external workshops on advanced risk analytics, data science, and insurance regulations.
- Mentorship opportunities with senior risk managers and actuaries.
Working Environment
Old Mutual Zambia provides a collaborative, inclusive, and technology‑enabled workplace. The Chipata office features modern workstations, secure data infrastructure, and flexible working arrangements that support work‑life balance. Employees are encouraged to share ideas, participate in cross‑departmental projects, and contribute to a culture of continuous improvement.
Application Process
Interested candidates should submit their updated CV and a cover letter outlining their suitability for the role via the online portal on Old Mutual’s careers page. Applications will be reviewed on a rolling basis, and shortlisted candidates will be invited for a virtual interview followed by an on‑site assessment at the Chipata office.
https://www.liberiajobsearch.com/
Equal Opportunity Statement
Old Mutual Zambia is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees, regardless of gender, race, religion, age, disability, or sexual orientation. All qualified applicants will receive consideration for employment without discrimination.
