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Sr. Financial Analyst (Insurance Industry)

Date: 12-Sep-2022

Location: KW

Company: Alghanim Industries

Location: KRE – Tower, Sharq

Business Unit – Enaya Insurance

Functional Area – Finance and Accounts & Control

Reporting to : Senior Finance Manager

Job Profile:

To support the Senior Finance Manager in managing the finance and accounting function for the business; this will be achieved by directing, supervising, and coordinating team activity within the financial control function.  Provide constant support to the business in preparation of budgets, forecasts, perform meaningful analysis of financials, and assist operations in defining meaning KPIs for monitoring and improving performance and supporting business growth initiatives.

Basic Function and Scope of the Job

  • Partner with business leaders for supporting the achievement of financial business performance
  • Monitor and interpret financial performance, providing regular analysis and expert guidance to General Managers offering insight and recommendations to enhance business performance in Insurance.
  • Preparation of key insurance ratios and highlighting the same to the Management for necessary actions for the adverse ratios
  • Lead the annual budgeting & forecasting exercise by integrating with key business stakeholders across functions.
  • Ensure that business plan and monthly reviews are submitted for corporate management review on a timely basis.
  • Play an important role in addressing major strategic issues that have a long-term impact through efficient budgeting & forecasting mechanisms.
  • Provide accurate information to management on a timely basis on key success factors of the business.
  • Carryout detailed revenue enhancing and SG&A analysis and get the same validated by the Senior Manager/GM
  • Manage key relationships within business like VP, GM etc. and provide ad-hoc analysis at short notice.
  • Ensure that key internal controls are tested and updated on regular basis.
  • Lead, coach and develop team.
  • Ensure that the monthly closing is done on time
  • Controls Documentation and Testing on RMC
  • Highlight to the business on any developments on insurance related matters from Insurance Regulatory Unit and its impact on the business both on short term and long term basis
  • Review of monthly Controllers KPI's
  • Review and analysis of loss ratios for all lines of business
  • Adhoc Analytical Reports as required by SFM or GM
  • Working With SFM for clearing Internal Audit Issues
  • Support business in product pricing analysis
  • Provide business with insights on revenue enhancing
  • Review of the technical reserves considering actuarial assumptions

Skills, Knowledge and Experience Required

  • Graduation degree in commerce
  • Professionally qualified CA/CPA/ICMA/MBA or equivalent.
  • Insurance Industry experience in a must.
  • Insurance related qualification from ACII would be preferred
  • Sound knowledge of financial and management accounting concepts.
  • Strong communication and presentation skills