Insurance Performance Enhancement Specialist
13 hours ago
The Operational Financial Analyst plays a pivotal role in analyzing financial and operational data to enhance business performance, improve underwriting efficiency, and support strategic decision-making. This role bridges finance and operations, ensuring alignment between financial performance and the company's insurance products and processes.
Key Responsibilities- Analyze premiums, claims, and expenses to evaluate the financial health of insurance portfolios.
- Assess loss ratios, combined ratios, and underwriting profitability across products.
- Support pricing and reserving processes with data-driven insights.
- Develop and monitor KPIs related to policy performance, claims handling, and operational efficiency.
- Monitor performance indicators, highlighting trends and analyzing causes of unexpected variance.
- Generate detailed reports on revenue streams and cost drivers, including policy cancellations and renewals.
- Contribute to the preparation of annual budgets and forecasts, ensuring alignment with strategic goals.
- Perform variance analysis for underwriting results and claims trends.
- Collaborate with actuarial team to align forecasts with reserve calculations.
- Identify inefficiencies in underwriting, claims processing, and premium collections.
- Recommend operational changes to optimize workflow and reduce financial leakage.
- Participate in cross-functional projects to automate reporting and analysis processes.
- Monitor compliance with regulatory requirements for financial and operational reporting.
- Suggest actions to improve performance by evaluating business results and company KPIs through analyzing and interpreting data and making comparative analysis.
- Develop, maintain, and enhance system processes, data models, and reporting tools.
- Collaborate with underwriting, actuarial, and claims departments to ensure operations are aligned with financial objectives.
- Present findings and recommendations to senior management to support strategic initiatives.
- Education: Bachelor's degree in Finance, Accounting, Economics, or related field; certifications like FMVA are a plus.
- Years of Experience: Minimum 3-5 years of financial analysis experience within the insurance industry.
- Skills:
- Familiarity with insurance metrics, including loss ratios, reserves, and claims trends.
- Advanced knowledge of Microsoft Excel (pivot tables, advanced formulas).
- Experience with analytics tools like Power BI and Tableau.
- Exceptional analytical and problem-solving skills.
- Effective communication and stakeholder management abilities.
- Strong attention to detail and accuracy in financial reporting.
- Ability to interpret large volumes of data and translate it into actionable insights.
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