Business Analyst

1 week ago

Bengaluru, Karnataka, India Shashwath Solution Full time ₹ 9,00,000 - ₹ 12,00,000 per year

Job Summary:

The Business Analyst will play a key role in supporting finance and management information (MI) systems for an insurance company. The individual will bridge the gap between business operations, finance, and IT, ensuring the successful implementation and optimization of finance-related systems and management reporting tools. The role involves gathering business requirements, facilitating communication between stakeholders, and analyzing data to improve decision-making processes within the insurance domain.

Key Responsibilities:

Requirements Gathering: Collaborate with stakeholders (finance teams, insurance operations, and IT) to gather, document, and translate business requirements into functional specifications.

Process Improvement: Identify inefficiencies in finance and reporting processes, recommending and implementing improvements to streamline workflows in the current system

Data Analysis: Analyze finance and MI data of the current state systems

System Implementation & Support: Support the implementation, integration, and optimization of finance and reporting systems, ensuring alignment with business processes for the new system.

Reporting & MI Development: Design & Develop financial reports and dashboards using MI tools, providing detailed analysis and insights into key performance indicators (KPIs) on the new system

Stakeholder Communication: Act as a liaison between finance, insurance operations, and IT teams, ensuring clear communication and alignment on project goals and timelines.

Documentation: Create detailed documentation including business requirements, process flows, and functional specifications.

Compliance & Risk Management: Ensure that finance and MI systems adhere to regulatory and compliance standards within the insurance industry.

Required Qualifications:

  • Bachelors degree in Finance, Accounting, Business, or a related field
  • Proven experience as a Business Analyst in the insurance domain, with a focus on finance and MI
  • Strong understanding of insurance products, underwriting, claims processes, and financial reporting
  • Proficiency in data analysis tools (eg, Excel, Power BI, Tableau)Experience with Agile methodologies and familiarity with project management tools (eg, JIRA, Confluence)
  • Excellent problem-solving skills and the ability to analyze complex data sets
  • Strong communication skills to work with cross-functional teams and present findings to stakeholders

Preferred Qualifications:

  • Experience with regulatory reporting (eg, Solvency II, IFRS 17) in the insurance industry
  • Knowledge of management information systems and their role in insurance operations
  • Familiarity with financial modeling and forecasting techniques

Key Competencies:

  • Analytical thinking and attention to detail

  • Strong business acumen with the ability to understand the financial implications of insurance operations

  • Ability to work in a fast-paced environment and manage multiple priorities
  • Collaborative mindset with the ability to influence and negotiate with stakeholders

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