VP - Finance Operations - Insurance

Base Location : Gurgaon, NCR

Job Description :

To act as a lead for the Centre of Excellence for Global Insurance through the stages of evolution

- Develop strategy

- Build teams and environment

- Migrate and consolidate processes

- Transform processes

- Consistent delivery of processes in a controlled environment

- Change management

- The individual will be responsible for overseeing and synergizing all finance processes for the Insurance Businesses that are conducted - including Financial Control, ALCM and Business Finance (Processes under CFO purview)

- The individual is expected to deliver value add analytics to enable decision support and work with the Global Insurance leadership team to develop and implement strategies

Principal Accountability KPI and Targets :

Strategy :

- Understand global Insurance framework i.e. Process (Target Operating Model), Policies, Regulatory requirements, Systems, and actively challenging the existing framework and working closely with Group Insurance Finance to develop, refine and implement the new TOM

Process transformation :

- Identify opportunities for both transformational and incremental improvement and drive changes independently

- Drive change culture in the team and provide coaching as appropriate

- Engage with subject matter experts in delivery of change to the IT infrastructure to support/improve the efficiency of reporting processes

Change Management :

- Ambitious change mindset, actively involved in the development of the change strategy and accountability for its implementation in compliance with Group Standards and Regulations as well as relevant FIMs

- Understand the Global business requirements in line with regulatory changes and be able to effectively translate into functional requirements

- Working with / dependency on Insurance teams in various countries who are not under their direct control

- Working within a fast moving and demanding environment with significant regulatory changes and strict timelines

Leadership & Teamwork :

- To work effectively with varying levels of people in Finance Function, Programme work streams, PMO, IT as required, providing leadership and direction where required.

- Effective communication across a matrix environment, working with a wide range of stakeholders across multiple business areas and functions

- Ensure that direct reports (sub-function leads for BF and FC) maintain a strong administrative control environment with roles accountability for delivery clearly mapped out

- Coach team to ensure performance metrics i.e. production produced in line with requirements

- Ensure team is developed by undertaking a training needs analysis for each team member. Ensure personal development plans are in place covering product knowledge, technical and soft skills

- Communicate effectively with the team members and be a team player

- Review the work of team members, including the final quality review for the key Group deliverables (including submissions to the Group Management Board)

Skills and Knowledge :

- CFA/ MBA (Finance)/ PGDBM-Finance, Chartered Accountant/CWA /CPA

- 15+ years of post-qualification experience

- Experience as Insurance CFO / Controller in a global environment(preferred)

- Good understanding of life insurance products and experience of analyzing / understanding financials working in collaboration with actuarial teams (preferred)

- Experience of understanding and challenging existing accounting treatments, and of the application of new requirements (working knowledge of IFRS 4 and IAS 39 preferred)

- Experience of the planning and forecasting cycle in a large organization (preferred)

- Build trusting relationships with internal customers by consistently delivering value add services & delivery that exceeds expectations & positions the team for sustained success

Ability to identify improvement opportunities :

- Good understanding of financial products and how they impact finance operations specifically in the Insurance business.

- Excellent working knowledge of MS related products i.e. Excel, Power Point, Access.

- Working knowledge of financial reporting systems (general ledger, consolidation, management information)

- Working knowledge of insurance policy administration systems (preferred)

- Experience in developing and documenting processes.

- Ability to develop effective working relationships with stakeholders of different seniority and geographical location.

- Ability to manage the service delivery of a designated processes

- Ideally, experience of leading and managing teams

- Global Exposure - Ability to interact with multiple cultures / multi-tasking.

- Experience in leading change