Senior Leader - Financial Planning & Analysis - General Insurance

We are seeking a highly experienced and strategic Senior Vice President for one of our esteemed client in Mumbai in the General Insurance space for their Business Finance department. The successful candidate will be a key contributor in shaping the financial future of the organization, driving business planning, regulatory compliance, process improvement, and efficiency initiatives. The role involves managing a dynamic team and collaborating closely with the executive leadership and reporting to the CFO.

Some of the key responsibilities will include:

Business Finance:

- Develop comprehensive business plans, Lead Quarterly Rolling Forecasts (QBR) and provide monthly and quarterly finance/business updates to shareholders and the Board.

- Streamline the Annual Planning process across functions for improved efficiency.

- Monitor business performance against plans, targets, and budgets, taking timely actions to address issues or capitalize on opportunities.

- Review, assess, challenge, and make recommendations on business plans to ensure financial soundness and commercial appropriateness.

- Provide insights to business and functional heads based on actual trends for better efficiency and driving profitable growth.

Regulatory Reporting (IRDA Compliance):

- Lead Business MIS covering internal MIS and IRDAI/IIB reporting across premium, claims, and other functions.

- Network with industry and other players to nurture business intelligence in the financial domain.

- Ensure accurate, timely, and up-to-date submission of various statutory reports - IRDAI, GIC, IIB.

- Proactively respond to changes in the regulatory framework, such as EOM regulations.

Process Improvement and Efficiency:

- Drive cost initiatives across the company for continuous optimization.

- Actively participate in business decisions and conduct Cost Benefit Analysis to optimize costs.

- Proactively work with stakeholders to provide solutions for ease of business in both collection and payment areas.

- Identify opportunities for standardization, transformation, and automation of financial processes to maximize effectiveness and efficiency.

Investments Vertical:

- Monitor Assets Under Management (AUM) and cash flow to maximize returns critical for profitability.

- Ensure effective financial risk management in line with industry best practices.

- Manage Investment Operations & Compliance with various regulatory reporting requirements.

- Ensure compliance with IRDAI and GARO requirements.

- Perform industry benchmarking.

IT Systems and Process:

- Drive automation of financial systems and processes to increase efficiency.

- Handle various IT systems/applications for optimization, including financial applications (e.g., Sun GL), Business Intelligence, and the financial aspect of the Core Insurance System & applicable Integrations.

- Identify, analyze, evaluate, and mitigate business and information security risks in adherence to company IT Security policies.

To be eligible for this role you will require:

- Chartered Accountant (CA)

- 18-20 years of experience in Financial Planning & Accounting, budgeting.