Operational Financial Analyst

Job Summary

The Operational Financial Analyst in an insurance company is responsible for analyzing financial and operational data to enhance business performance, improve underwriting efficiency, and support strategic decision-making. The role bridges finance and operations, ensuring alignment between financial performance and the company’s insurance products and processes.

Job 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.
•    Perform other duties as assigned by management.
 

Candidate Requirements

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.
•    Effective communication and stakeholder management skills.
•    Proactive approach to identifying and addressing operational inefficiencies.