Description
Our leading insurance client is looking for an experienced BA with strong financial and regulatory reporting experience gained within Insurance regulatory change programmes.
Business Analyst (Solvency II)
Summary of Position Responsibilities:
As a key member of the PMO team, you will play a major role in the development of solutions for the organisation. You will be responsible for identifying and documenting business and functional requirements, process and systems. You will play a significant part in the design and development of solutions for the business.
As a member of the PMO team you will be required to support the delivery of any number of change initiatives and programmes across the business. It is currently assumed you will be principally required to support the Reporting work stream of the Solvency II programme. You will be required to identify, define, rationalise and document changes to financial reporting processes resulting from the Solvency II requirements whilst also ensuring alignment with the other impacting strategic change initiatives.
Key working relationships
All functions depending on the project requirements but with particular focus on Finance, Actuarial and Solvency II teams (both local and central)
Principal Accountabilities of Position:
As a Business Analyst within the PMO team you will be expected to:
- Capture and develop business requirements, agreed and signed off with the business
- Business process design, improvement and documentation.
- Act as a main point of contact between the business and external suppliers to ensure clear, concise and fully understandable business specifications
- Ensure requirements are delivered in a cost effective manner and are aligned with the overall business case
- Highlight any potential problems at appropriate times if the project programme scope will be impacted
- Ensure business associates are fully engaged to ensure project success
- Enhance the overall PMO departments skill levels in the business analysis area
- Assist with supplier negotiations on price and delivery schedule
- Conduct quality assurance reviews on all deliverables and associated documentation
- Supervise supplier resources as required
- Assist with developing suitable testing and implementation strategies for each project in conjunction with the business and external suppliers
In addition, on the Solvency II programme you will be expected to:
- Understand the financial reporting processes around generation of external reporting deliverables
- Understand the quarterly and annual financial reporting processes that generate financial statements/regulatory returns across the EEA
- Steer design of the detailed financial reporting processes and provide input/direction to the businesses on achieving efficiencies through change.
- Identify and support the subsequent delivery of process improvements, efficiencies and change to enable new Solvency II reporting timescales to be me.
- Recommend pragmatic, achievable and effective change thereby, meeting business requirements and realising benefits identified by the initiatives
- Ensure alignment, consistency and continuity of design with other business processes
- Support implementation of the new financial reporting processes, liaising with Solvency II and BAU teams on transition to BAU
Key Performance Indicators (KPIs) of Position:
- Successful completion of agreed project deliverables to time
- Adherence to documentation and quality standards
- Positive feedback from project stakeholders
Experience, Skills and Competencies:
Candidate must be experienced with full life cycle Business Analysis with a Financial Services background and the following skills & experience:
- The delivery of projects for all phases, from initiation through to implementation
- Writing business requirement documentation
- Process design and documentation
- Relationship management - internal colleagues, 3rd parties, suppliers/vendor management
- Ability to deal with ambiguity
- Highly analytical and detailed
- Excellent all round communication/interpersonal skills
- Decisive and influential at all levels
- Delivery focussed
- Proactive and motivated
- Skilled facilitator
- Microsoft Visio
In addition a capability of working alongside finance and actuarial teams is essential and relevant experience in this area is very important
Other Comments:
The following skills & experience are considered to be highly advantageous to the role:
- Knowledge of existing regulatory reporting environment within the EEA desirable
- Experience of financial reporting processes within a global life insurance group highly desirable
- Formal accounting accreditation advantageous but not essential
- Prior experience of actuarial reporting processes an advantage
- Knowledge/experience of Solvency II highly beneficial
Project Management and/or IT background have some relevance but are not essential.