Finance Business Partner - Personal Insurance

Job description

The Finance Business Partner - Personal Insurance role working within a highly professional and strategically focused business partnering team reporting to the VP, Corporate Planning, Performance Management, and Business Partnering.

Supports the FP&A in cross functional knowledge integration from various enabling areas within Aviva leading to “one version of the truth” for the Personal Insurance business.Works with the end state in mind, conceptual in approach and is able to assist in managing the full spectrum of strategic/financial activities including:

• Develops and manages the development and delivery of successful/ sustainable value creating strategies to the business leaders of Personal Insurance by:
• Facilitating transparency of financial performance across the regions
• Works with business leaders to drive improved performance
• Ensures business decisions are grounded in sound financial analysis
• Ensures business decisions endure processes that drive robust financial challenge and accountability
• Provides analysis and insight to prioritize the allocation of scarce resources to areas where value can be generated

Key Responsibilities

Relationship Management

• Consults in a finance business partner capacity to the Personal Insurance – able to provide insights into the future, sees the big picture, able to influence senior management team, takes initiative proactively and focuses on aligning Finance and other functions (e.g. Actuarial, Pricing and Claims) within the business.
• Responsible for growing the relationships with the business as a partner, provides superior client experience and strengthens the relationships across boundaries.
• Deep generalist with accomplished finance competencies and business capabilities drawing across cross-functional disciplines and boundaries to address emerging business issues.
• Driving Business Performance
• Ensures all business decisions are being supported by high quality financial analysis with the necessary data resources, analytical tools, structured frameworks and best practices.
• Drives quality business planning ensuring business activities are being created that culminate in financial plans and performance targets being set and achieved across the regions.
• Directs Business Unit Operational Reviews and Business Planning processes, engages business leaders, and leverages best practices and common processes.
• Leverages deep generalist knowledge, interprets/synthesizes and delivers timely management information that contributes to value-added decision support.
• Provides ongoing business insights and competitor analysis, to drive business performance forward. Ensures that financial support is provided to initiatives that add value to the business.
• Compares/benchmarks business operations to enable Regional/Functional optimization.
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    Key Accountabilities

    Strategic Management

• Ensures accurate financial assumptions in corporate and business unit strategic planning processes are consistently made
• Participates effectively in the development of business planning models that reflect key drivers of value and competitive environment
• Actively participates on cross-functional teams within the business
• Provides a consistent approach which assists the business in measuring its performance against strategy and operating plans
• Plays a key role in ensuring that competitive analyses is developed for the business
• Supports the embedment of a Digital first and customer centric mindset across the team
• Performance Measurement and Management Control
• Understands key financial and operational drivers of performance and helps to integrate them consistently in business management reporting processes
• Support the development/refineme​nt​ of appropriate efficiency metrics, dashboards and financial/nonfinancial KPIs to enable effective performance management.
• Track and analyze information that is predictive and actionable
• Incorporates measures of competitor status into management reports
• Coordinates the communication of performance towards goals and strategies of the business. Establishes and drives forward looking planning / budgeting processes ensuring alignment between financial and strategic plans. Compares/benchmarks business operations across the Regions to enable business optimization
• Cost Management
• Establishes and executes a framework to drive expense management discipline and focus across the business – identifying and reducing non-value added costs in its operation
• Ensure the business uses relevant and reliable product / customer / segment cost information. Understand the long-term cost structure of our business and takes an active role in the cost management process.
• Governance/Stewardship role
• Coordinates the deployment of financial controls across the business that are effective at preventing undesirable risks
• Align finance processes and priorities with those of the business and are flexible at adapting finance processes to meet business’s changing needs
• Play an upfront and early role in product decision making processes
• Support the development of systems that supports the business within the eyes of customers and brokers
• Strive to provide feedback to corporate finance and the business in the shortest time after an event occurs

Behavioral/Leadership Requirements

Managing the Workload

• Has a can do – will do approach to deliver consistently high performance.
• Sets and inspires others to achieve high standards.
• Plans and organizes work and exploits systems and technology, establishing clear objectives to deliver business goals.
• Managing Through Others
• Works to achieve better results through teams/individuals.
• Influence the development of strategic agenda in areas of accountability.
• Proactive development of capability in others.
• Managing Business Relationships
• Builds a convincing and professional environment which inspires confidence and commands respect.
• Develops harmony and strong partnerships, taking personal responsibility for managing expectations and to ensure the delivery of results.
• Managing Information
• Collecting and analyzing information and ideas which are relevant to commercial success.
• Balancing long and short term considerations.
• Challenging with objectivity.
• Making clear decisions appropriate to the role.
• Managing Change
• Proactively identifies and raises debate about opportunities.
• Supports team members and colleagues and maintains commitment through periods of change.
• Encourages others to contribute.
• Translates vision and strategy into practical plans for achieving competitive advantage.
• Managing Yourself
• Creates a favorable and professional environment which inspires confidence and commands respect.
• Sets an example by walking the talk.
• Acts consistently with Aviva values.

Experience, knowledge and skills

• 5+ years post qualification financial and/or operational management experience P&C Insurance experience is a MUST (can be personal or commercial lines or a combination of both).
• Previous experience managing a team (role will have 2 – 3 direct reports at a Sr Analyst and Manager level)
• This position demands a high level of independence, visibility and also communication.Therefore, effective communication skills are essential
• Possess strong influencing skills and is a natural leader
• Organizational awareness and political sensitivity
• Excellent relationship builder and communicator with proven leadership and motivation ability
• Ability to manage multiple initiatives in a structured and controlled framework
• Proven leader with an ability to motivate a team of high-performing individuals
• Demonstrable understanding and strategic perspective on the insurance industry
• Experience with contract negotiation and management, business modeling, acquisitions and integration
• Sound understanding of financial, strategic and performance management processes
• Proven ability to embrace and lead change, be highly adaptable and flexible, decisive and display excellent judgment

Education

• A degree in Business (Finance, Economics, Accounting & Finance) or equivalent, and an MBA would be preferable.
• CA, CMA, CGA or equivalent.