Consultant - Insurance Risk Operations

4 weeks ago

Pune, Maharashtra, India Allianz Full time

The Role:

We are seeking a highly motivated and experienced Consultant to join our growing Insurance Risk Operations team.

This role offers a unique opportunity to work with prominent insurance clients on critical risk management and operational transformation initiatives.

The ideal candidate will possess a strong understanding of insurance business processes, risk frameworks, and regulatory requirements, coupled with a proven ability to deliver tangible results in a consulting environment.

You will play a key role in analyzing client needs, developing strategic recommendations, and supporting the implementation of solutions that improve risk posture and operational performance.

Key Responsibilities:

Client Engagement & Delivery:


- Lead or support project workstreams, managing client relationships and ensuring high-quality project delivery within scope, budget, and timeline.

- Conduct in-depth analysis of client's current state risk operations, processes, and technology infrastructure.

- Develop and present strategic recommendations, implementation roadmaps, and business cases to senior client stakeholders.

- Facilitate workshops, interviews, and working sessions with client teams to gather requirements and validate solutions.

Risk Operations & Strategy:


- Advise clients on best practices in insurance risk management, including underwriting risk, claims risk, operational risk, compliance, and regulatory adherence (e.g., Solvency II, IFRS 17, ERM frameworks).

- Design and optimize risk assessment processes, control frameworks, and key risk indicators (KRIs).

- Identify opportunities for process improvement and automation within risk operations to enhance efficiency and effectiveness.

Team Collaboration & Mentor junior consultants, providing guidance and contributing to their professional growth.

- Collaborate effectively with diverse project teams, including subject matter experts, data scientists, and technology specialists.

- Contribute to internal practice development, including thought leadership, methodology enhancements, and client proposals.

Business Development (Supportive Role):


- Support senior leaders in business development activities, including proposal writing, client presentations, and market Master of Business Administration (MBA) from a reputable institution is required.

Experience: 4-6 years of relevant experience in insurance, risk management, or operations consulting, specifically within the insurance sector.

Prior experience in a consulting firm or a dedicated risk management/operations role within an insurance company is highly preferred.

Domain Solid understanding of insurance products, value chains, and core business processes (underwriting, claims, policy administration).

- Strong knowledge of various risk types relevant to the insurance industry (e.g., underwriting, market, credit, operational, regulatory).

- Familiarity with risk frameworks (e.g., ERM, COSO) and regulatory compliance requirements.

Analytical & Problem-Solving Skills:


- Exceptional analytical, conceptual, and problem-solving abilities.

- Proficiency in data analysis tools (e.g., Excel, SQL, Tableau, Power BI) is a plus.

Communication & Interpersonal Skills:


- Excellent verbal and written communication skills, with the ability to articulate complex ideas clearly and persuasively to diverse audiences.

- Strong presentation and facilitation skills.

- Proven ability to build strong client relationships and work effectively in a team environment.

Preferred Skills:

- Certifications such as FRM (Financial Risk Manager), CFA (Chartered Financial Analyst), or similar risk/insurance qualifications.

- Experience with risk technology platforms or GRC (Governance, Risk, and Compliance) solutions.

- Project management certification (e.g., PMP, PRINCE2)

(ref:iimjobs.com)

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