Business Analyst - General Insurance Regulatory Reporting & Financial Compliance
- Pune, Maharashtra
- Permanent
- Full-time
- Analyze and interpret the latest regulatory requirements impacting financial reporting in the general insurance domain.
- Develop and maintain comprehensive documentation related to financial compliance and regulatory reporting processes.
- Collaborate with finance and compliance teams to gather relevant data and prepare accurate reports for regulatory purposes.
- Support the implementation of an efficient reporting framework that enhances compliance and reduces risk.
- Provide training and guidance to stakeholders on regulatory requirements and reporting best practices.
- Monitor changes in regulations and standards, proactively communicating relevant updates to stakeholders.
- Assist in audits and assessments related to regulatory compliance and reporting accuracy.
- Regulatory Reporting & Compliance
- Prepare and validate reports under frameworks such as:
- Basel III/IV, CRR/CRD IV
- IFRS / GAAP
- Solvency II, EMIR, SFDR, AnaCredit, COREP, FINREP
- Translate regulatory instructions into clear reporting rules and data logic.
- Ensure full traceability from regulatory requirements to data fields and calculation logic.
- Data Validation & Reconciliation
- Conduct data quality checks and reconciliations across source systems (GL, risk platforms, insurance admin systems).
- Identify and resolve data gaps or anomalies in collaboration with data engineers and architects.
- Align regulatory reporting with internal management reporting views.
- Domain-Specific Support
- Apply financial expertise across:
- Accounting: Mapping IFRS/GAAP structures to regulatory disclosures.
- Tax: Supporting tax compliance elements (e.g., FATCA, CRS).
- Controlling: Integrating cost/performance structures into regulatory views.
- Technical Insurance: Supporting reports on premiums, claims, policy exposure, and underwriting risk metrics.
- Requirement & Specification Definition
- Collaborate with product owners and compliance officers to define scope and logic for new reports.
- Draft and maintain BRDs, functional specifications, and data mappings.
- Ensure all reports meet audit and inspection standards for documentation and reproducibility.
- Testing, UAT, and Audit Support
- Design and execute test cases for regulatory reports.
- Support UAT cycles and regulator test submissions.
- Provide audit trails, commentary, and documentation for internal/external reviews.
- Continuous Improvement & Transformation
- Participate in regulatory change programs and assess impact of new rules.
- Recommend improvements in data sourcing, controls, automation, and reporting processes.
- Promote governance and data stewardship across the reporting lifecycle.
- Required Qualifications:
- 3–5+ years of experience in regulatory reporting, risk finance, audit, or financial compliance.
- Strong knowledge of regulatory frameworks, IFRS/GAAP, and risk reporting obligations.
- Hands-on experience with reporting platforms, risk data models, or financial data warehouses.
- Proficient in Excel, SQL, and structured reporting templates.
- Ability to interpret regulatory texts and translate them into operational specifications.
- Preferred Qualifications:
- Background in insurance, banking, or financial services.
- Familiarity with tools such as Power BI, AxiomSL, Abacus360, Moody’s, or SAP BW.
- Experience working in Agile or hybrid delivery environments.
- Exposure to data governance, metadata, lineage tools, or compliance automation.
- Comprehensive benefits package
- Career development and training opportunities
- Flexible work arrangements (remote and/or office-based)
- Dynamic and inclusive work culture within a globally renowned group
- Private Health Insurance
- Retirement Benefits
- Paid Time Off
- Training & Development
- Performance Bonus