Sr. Team Member - FPBC

SUD Life Group; Mumbai; On-site; INR 800,000 - 1,200,000; Full time

Job summary

SUD Life Group is seeking a Financial Planning & Budget Control professional to oversee OPEX budgeting and variance analysis in Mumbai. You will coordinate budget templates, track monthly expenses, and provide insights to optimize cost and drive corporate value.

The role requires strong analytical skills, ability to work with cross-functional teams, and experience in budgeting, forecasting, and financial reporting within a large enterprise.

Job description

Job Description

ABOUT THE ORGANIZATION

StarUnion Dai-ichi Life Insurance (SUD Life) is a joint venture formed in 2007between two major Indian PSU banks - Bank of India and Union Bank of India -and Japan's Dai-ichi Life Holdings.

We haveserved over 15 million customers through more than 19,500 bank branches acrossIndia. Our network includes 1,950 rural bank branches, ensuring insurancereaches remote areas.

SUD Lifefocuses on creating insurance products that meet different customer needsacross all segments of society. With our promoters' 100+ years of commitmentand combined strengths, we aim to become a leading name in India's lifeinsurance sector while delivering value to all stakeholders.

Establishedin 1902, Dai-ichi Life is the second largest life insurance company of Japanand is one of the top ten life insurers globally, renowned for sound productknowledge, superior asset management skills, and strong operationalcapabilities to manage life insurance businesses.

At SUDLife, our customers are our priority. We are committed to providing insuranceproducts that serve our customers’ unique needs across various strata ofsociety and geographies.

Thepromoters of SUD Life have a long-term commitment towards their customers andstakeholder. These strengths and values have been inherited by SUD Life, as wemake our way to becoming the next rising star in the Indian life insurancebusiness, promising exceptional value to all.

At Star Union Dai-ichi Life Insurance,we will ensure to nurture our people and provide opportunities to learn,succeed and build careers to the best of their abilities, thus creating andunlocking value for self, the organization, and the society at large.

Key Responsibilities :

Set the appropriate OPEX budget to realize stableoperations & increase of corporate value

• Preparation Of Budget Template
• Visualization/Socialization of formulation process
• Introduction of expenses Verification before approval/uses
• Assist in Negotiation for unnecessary expense

Make and improve the business plan process

• Preparation of 10 years OPEX
• Expense allocation working

Manage monthly expense and give insight/suggestionabout optimization of OPEX to increase the corporate value

• Monthly budget control.
• Give alerts with analysed trend.
• Suggest solution on optimization.
• Identifying the details of the provision

Designing improvement plan on expense consumption fordecision making.

Support the analysis of expense consumption data bycompiling relevant financial information and identifying basic trends ordiscrepancies, contributing initial observations for discussion within the teamregarding potential cost optimization. Provide suggestions to Team on Quarterlybasis about the improvement in existing report or requirement of additionalreports

Increase the visibility of Budget vs Actual analysisrelated with OPEX from various perspectives such as channel wise, Dept wise,etc.

• Channel wise analysis
• LOB wise analysis
• Dept wise analysis
• Expense head wise analysis
• Competitors analysis

Streamline the working process such as budgetexecution check, generation of report, and communication with all Dept. monthly

• Visualization of operating process
• Automation of the process by introducing the tool, wherepossible.

Job Snapshot

Job ID

20352

Department

Financial Planning & Budget Control

Location