Business Analyst

Mphasis; New York (NY); On-site; USD 100,000 - 130,000; Full time

Job summary

A leading financial services firm is seeking a Business Consultant in New York, NY. The ideal candidate will have deep knowledge in life insurance products, experience in IT business analysis, and a minimum of 8 years in the field. Responsibilities include gathering requirements, liaising with clients, and overseeing project delivery. The position requires strong communication skills and the ability to cultivate stakeholder relationships. Qualifications include an MBA or equivalent degree and expertise in PL/SQL. The company offers professional growth opportunities.

Qualifications

• At least 8 years of experience in Life Insurance and Annuities.
• Experience with life insurance administration, policy admin, claims.
• Collaborating with clients on consulting engagements.

Responsibilities

• Gather requirements and create requirement specification documents.
• Define and capture detailed business requirements into BRD.
• Monitor progress of the development team and provide direction.

Skills

Life Insurance knowledge

IT Business Analysis

Critical thinking skills

Effective communication skills

Team player

Education

B.TECH/MCA/MBA

Certifications in insurance (FLMI)

Tools

PL/SQL

Excel

PowerPoint

Job description

Position Title

Business Consultant

Function

LifePRO®

Reports to

Regular / Temporary: Regular Grade

Location

USA

Role Description

Job Description – Business Analyst Manager

Responsibilities

• In-depth understanding of different life Insurance products (Term, Wholelife, Flexible & Indexed products) & annuities products & their associated features, benefits & risks.
• Requirement gathering & creating requirement specification document & getting sign-off.
• Demonstrating requirement with team for clear understanding of requirement.
• Support projects as a Business Analyst, documenting business, and functional requirements for insurance administration for life and annuity products per client needs.
• Elicit, Validate and Analyze detailed functional and technical requirements using Insurance Business Process Modeling and Data Modeling to deliver functional design document.
• Liaise with the client’s business users to define and capture detailed business requirements into BRD.
• Determine business objective from requests. Negotiate, provide estimates, provide options, brainstorm solutions with business contacts to deliver expected results.
• Monitor progress of development team, provide direction (if needed), resolve issues, answer questions, coordinate with QA team, gather signoffs, confirm production move.
• Provide production support, troubleshoot problems, research errors, monitor daily activities, answer system functionality questions.
• Establishes and maintains a close‑working relationship with all project stakeholders and technical staff to ensure alignment between solutions being delivered to business goals.
• Participate in project planning sessions with project managers, business analysts and team members to analyze business requirements.
• Manages the delivery of the detailed business requirements, functional design, build, test, and readiness components of project.
• Understanding of PL/SQL to work with application database to resolve data and product configuration issues.
• Provides leadership and oversight on all aspects of a project translating business requirements into systems solutions.
• Illustrate and model the business requirements in an easy to consume, client friendly manner.
• Possesses the required technical knowledge to manage all aspects of an Information Technology project.
• Good working knowledge in ACORD standards for life insurance.

Technical Skills

• Life Insurance (Term/WL/UL) and Annuity insurance knowledge.
• End-to-end lifecycle experience of Product development and implementation on a policy administration platform.
• IT Business Analysis experience.
• PL/SQL, Excel and PowerPoint presentations.
• Business design / System testing, Root Cause analysis (RCA).
• Good knowledge of Automation tool.
• Understanding of Agile methodology.
• Meetings & Reviews, Estimations, Reporting & Documentation.

Soft skills (Desired)

• Understanding of Insurance business vertical and the business processes within.
• Critical thinking skills.
• Good analytical skills.
• Effective communication skills - oral and verbal.
• Ability to collaborate with various stakeholders across various geography.
• Strong Team Player & ability to build & sustain the team.

Education Requirements

• B.TECH /MCA /MBA.
• Certifications in insurance (FLMI) will be preferred.

Work Experience Requirements

• At least 8 years of Life Insurance and Annuities product experience.
• Experience with the various aspects of life insurance administration is highly desirable, particularly policy administration, claims and agent compensation.
• Experience collaborating with client on various consulting engagements.
• Experience defining application enhancement requirements.
• Experience in automation will be an added language,
• Training and mentoring lesser experienced team members.