Senior Process Analyst

Job Title:

Qualification:

Experience:

Must Have Skills:

Problem-Solving

Good to Have Skills:

Excellent Communication

Roles and Responsibilities:

• Process Analysis and Improvement:

> Lead in-depth process analysis to identify inefficiencies, bottlenecks, and opportunities for improvement within  insurance and banking operations.

> Develop and implement strategies to streamline processes, reduce costs, and enhance operational efficiency.

> Conduct detailed process mapping and work closely with cross-functional teams to ensure the successful implementation of process enhancements.

• Process

  Optimization:

> Conduct in-depth analysis of insurance processes including policy administration, claims management, underwriting, and customer service operations.

> Identify inefficiencies, gaps, and areas for improvement across insurance workflows and recommend actionable solutions to enhance process effectiveness.

> Use data-driven insights to streamline processes, reduce operational costs, and improve turnaround times.

• Process Mapping and Documentation:

> Develop and maintain detailed process maps, workflows, and documentation for insurance-related processes.

> Ensure clear and accurate documentation of processes such as policy issuance, renewals, claims handling, risk assessment, and fraud detection.

> Standardize operating procedures (SOPs) and ensure that processes are aligned with both internal policies and industry standards.

• Regulatory Compliance and Risk Management:

> Ensure that insurance processes comply with relevant industry regulations, such as those set by insurance governing bodies (e.g., NAIC, IRDAI) and local legal requirements.

> Conduct regular audits of processes to ensure compliance with industry standards, including underwriting guidelines, claims handling practices, and data protection regulations (e.g., GDPR).

> Identify risks in current processes and work to mitigate them through process improvements or the implementation of new technologies.

• Claims and Underwriting Process Improvement:

> Analyze the entire claims life cycle to identify areas of improvement, such as reducing claim processing time and improving customer satisfaction.

> Review underwriting processes and recommend enhancements to improve risk assessment and policy pricing accuracy.

• Risk and Compliance Management:

> Ensure that business processes comply with industry regulations and standards, especially within the banking and insurance sectors.

>Collaborate with compliance teams to ensure processes adhere to financial regulations, insurance laws.

>Identify and mitigate potential risks within business operations, implementing corrective actions when necessary.

• Stakeholder Collaboration:

>Work closely with business leaders, department heads, and other stakeholders to understand business needs and process requirements.

> Facilitate discussions and workshops with relevant teams to align process improvement strategies with business goals.

> Act as a liaison between technical and non-technical teams, ensuring clear communication and alignment on process changes.

• Project Management:

> Lead or participate in cross-functional projects aimed at improving business operations in the insurance and banking sectors.

>Develop project plans, timelines, and deliverables, ensuring timely and successful execution of process improvement initiatives.

>Manage and coordinate resources effectively, resolving issues and adjusting plans as necessary.

• Documentation and Knowledge Management:

> Create comprehensive process documentation, including process maps, standard operating
procedures (SOPs), and work instructions.

> Ensure that documentation is maintained, updated, and easily accessible for reference
by relevant teams.

> Train and mentor junior analysts or staff members on process management best practices and tools.

Location:

CTC Range:

Notice period:

Shift Timings:

Mode of Interview:

Mode of Work:

Mode of Hire:

Meera

HR Analyst

Black and White Business Solutions Pvt Ltd

Bangalore, Karnataka, INDIA.

meera.m@blackwhite.in | www.blackwhite.in

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