Sr. Team Member - FPBC

Star Union Dai ichi Life Insurance (SUD Life); Navi Mumbai; On-site; INR 1,200,000 - 1,800,000; Full time

Job summary

StarUnion Dai- ichi Life Insurance (SUD Life) is seeking a Sr. Team Member - FPBC to lead budgeting and OPEX optimization initiatives.

The role focuses on preparing budgets, validating expenses, and driving cost-efficiency across channels and departments. You will collaborate on long-term financial planning, implement standardized reporting, and streamline processes to support decision making and corporate value growth.

Responsibilities

• Set the appropriate OPEX budget to realize stable operations and increase corporate value.
• Make and improve the business plan process with 10-year OPEX planning.
• Manage monthly expenses and provide insights for optimization of OPEX.
• Design improvement plans on expense consumption for decision making.

Skills

Budgeting

Financial analysis

OPEX management

Forecasting

Negotiation

Data visualization

Job description

Sr. Team Member - FPBC:

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, aswemake our way to becoming the next rising star in the Indian life insurancebusiness, promising exceptional value to all.

To know more about us please visit:

Our Website: https://www.sudlife.in/

Our LinkedIn Page: https://www.linkedin.com/compan y/13201422

Our Talent Philosophy

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

1. 1)Preparation Of Budget Template
2. 2) Visualization/Socialization of formulation process
3. 3) Introduction of expenses Verification before approval/uses
4. 4) Assist in Negotiation for unnecessary expense

Make and improve the business plan process

1. 1) Preparation of 10 years OPEX
2. 2) Expense allocation working

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

1. 1) Monthly budget control.
2. 2) Give alerts with analysed trend.
3. 3) Suggest solution on optimization.
4. 4) 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.

1. 1)Channel wise analysis
2. 2) LOB wise analysis
3. 3) Dept wise analysis
4. 4) Expense head wise analysis
5. 5) Competitors analysis

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

1. 1)Visualization of operating process
2. 2) Automation of the process by introducing the tool, wherepossible.