Financial Planning

Role & responsibilities

1. Financial Planning & Forecasting

• Lead the preparation of annual business plans, quarterly forecasts, and long-range strategic plans.
• Consolidate inputs from distribution, actuarial, investments, operations, and product teams.
• Build and maintain financial models to analyse revenue, costs, profitability, and capital requirements.
• Assess impact of new products, reinsurance, pricing changes, and regulatory changes (e.g., GST, IRDAI norms).

2. Business Performance Management

• Track monthly business performance including key KPIs such as APE/ANP, VNB, persistency, claims ratios, investment income, opex, commission expenses, productivity metrics.
• Analyse variance vs budget, forecast, and prior year; highlight risks and opportunities.
• Produce MIS dashboards, management presentations, and insights for senior leadership.
• Support board and investor reporting cycles.

3. Profitability & Product Economics

• Evaluate product/channel profitability with inputs from actuarial and finance teams.
• Analyse cost-to-income, contribution margins, expense overrun, and acquisition cost trends.
• Support VNB, NBM, EV analysis in coordination with the actuarial function (where applicable).

4. Cost Management & Productivity

• Monitor operating expenses, manpower costs, and functional budgets.
• Identify efficiency opportunities across distribution, operations, technology, and support functions.
• Drive cost optimization projects and track savings initiatives.

5. Capital & Solvency Analysis

• Support solvency monitoring, capital requirement planning, and stress/scenario analysis.
• Assess financial implications of capital infusion, dividend decisions, and policy changes.
• Liaise with actuarial for solvency movements and risk-based capital metrics.

6. Cross-Functional Business Partnering

• Work closely with distribution, actuarial, treasury, product, investments, operations, and IT teams to support strategic decisions.
• Provide analytical insights for pricing, channel incentives, new initiatives, digital programs, and operational changes.

7. Governance, Compliance & Reporting

• Ensure adherence to IRDAI guidelines, accounting standards, internal controls, and audit requirements.
• Support internal and external audits for planning and financial analytics.
• Maintain data quality, integrity, and accuracy in all FP&A outputs.

Required Skills & Competencies

• Strong analytical and modelling skills (Excel, financial modelling, Power BI/Tableau preferred).
• Deep understanding of life insurance P&L, statutory reporting, and actuarial metrics.
• Ability to interpret financial statements, regulatory guidelines, and management information.
• High attention to detail with strong problem-solving abilities.
• Excellent communication and presentation skills for senior stakeholders.
• Ability to work in fast-paced environments with tight timelines.
• Strong business acumen, commercial thinking, and strategic orientation.