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.
Please contact Anita Shah or email your cv directly in word format to riskandquants-in@theedgepartnership.com.
Please note that due to the high number of applications only shortlisted candidates will be contacted. If you do not hear from us in the next 5 business days we regret to inform you that your application for this position was unsuccessful.
riskandquants-in@theedgepartnership.com
Key responsibilities
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.
Role requirements
- Chartered Accountant (CA)
- 18-20 years of experience in Financial Planning & Accounting, budgeting.