Lead - Financial Planning & Analysis

Role: Lead - FP & A (Candidates from General and Health Insurance backgrounds only)

Location: Parel (Work from Office, 5 days a week)

Industry: Insurance

Experience: 8-12+ years of experience in FP&A, Business Finance, Corporate Finance, or Financial Strategy.

Preferred experience: Health Insurance, General Insurance, and handling budgeting, forecasting, MIS, profitability analysis, and leadership reporting.

Educational Qualification: CA / MBA Finance / CMA from a reputed institution.

Additional certification: Financial Modeling, Data Analytics, or Business Intelligence would be preferred.

Key Responsibilities:

Financial Planning & Budgeting:

• Lead the annual budgeting and operating plan process across all business functions.
• Drive periodic forecasting, rolling forecasts, and long-range financial planning.
• Consolidate business plans and align financial targets with organizational objectives.
• Monitor budget utilization and recommend corrective actions to achieve financial goals.

Business Performance Management:

• Prepare and review monthly MIS, management dashboards, and business performance reports.
• Analyze actual performance against budget, forecast, and prior periods.
• Provide actionable insights on revenue, claims, expenses, profitability, and productivity metrics.
• Track key health insurance KPIs including GWP, NWP, Claims Ratio, Combined Ratio, Renewal Ratio, Loss Ratio, Persistency, and Expense Ratio.

Financial Analysis & Decision Support:

• Conduct profitability analysis across products, channels, customer segments, and geographies.
• Evaluate business cases, investments, strategic initiatives, and new product launches.
• Support leadership in pricing, business growth, cost optimization, and resource allocation decisions.
• Perform sensitivity analysis and scenario planning to assess business risks and opportunities.

Health Insurance Analytics:

• Monitor portfolio profitability and claims experience.
• Partner with actuarial, underwriting, claims, and distribution teams to assess business performance.
• Analyze trends in underwriting, claims, commissions, and operating expenses.
• Provide insights to improve product profitability and operational efficiency.

Reporting & Governance:

• Ensure timely preparation and presentation of financial reports to senior leadership.
• Develop executive-level dashboards and performance scorecards.
• Support Board, Audit Committee, and Management Committee reporting requirements.
• Ensure adherence to financial governance, planning processes, and reporting standards.

Stakeholder Management:

• Act as a Finance Business Partner for key business functions.
• Collaborate with Sales, Claims, Underwriting, Operations, Product, and Actuarial teams.
• Challenge assumptions and provide data-driven recommendations for business decisions.
• Drive performance review discussions with business leaders.

Process Improvement & Automation:

• Strengthen FP&A processes, financial models, and reporting frameworks.
• Drive automation of MIS, budgeting, forecasting, and analytics processes.
• Leverage SAP, Power BI, Excel, and other analytical tools for enhanced reporting and decision support.
• Identify opportunities to improve efficiency, data quality, and reporting accuracy.

Key Deliverables:

• Annual Operating Plan (AOP) and Rolling Forecasts
• Monthly Business & Financial Performance Reviews
• Management MIS and Executive Dashboards
• Profitability and Cost Optimization Analysis
• Product and Channel Performance Analytics
• Strategic Financial Models and Business Cases
• Board and Leadership Financial Presentations