What are the responsibilities and job description for the Business Analyst with Insurance position at ITECS?
Job Details
Job Title: Business Analyst with Insurance Retirement/Annuity/Pension Domain, Accounting Terminology and Principles
Location: Piscataway, NJ
About the Role:
We are seeking a dedicated Business Analyst with expertise in the Insurance Retirement domain to join our team. The ideal candidate will possess a strong understanding of retirement insurance products, pension plans, and related financial processes, along with a solid grasp of accounting terminology and principles relevant to the insurance industry. You will act as a bridge between business stakeholders and technical teams to deliver effective solutions that meet business needs.
Key Responsibilities:
- Gather, analyze, and document business requirements related to retirement insurance products, pension plans, and associated financial services.
- Collaborate with stakeholders from insurance, finance, actuarial, and compliance teams to understand business processes and translate them into detailed requirements.
- Develop comprehensive functional and technical specifications, ensuring alignment with industry standards and accounting principles.
- Map business processes and workflows, identifying opportunities for process improvements and automation.
- Facilitate communication between business units and development teams to ensure solutions meet business objectives.
- Assist in testing activities, including preparing test cases, coordinating user acceptance testing (UAT), and documenting outcomes.
- Ensure solutions comply with regulatory standards, accounting practices, and internal policies.
- Support data analysis efforts by working with data models, reports, and dashboards, utilizing accounting and insurance terminology.
- Provide ongoing support and training to ensure successful implementation and adoption of solutions.
Qualifications & Skills:
- Bachelor's degree in Business, Finance, Accounting, or related field.
- Proven experience as a Business Analyst within the Insurance industry, specifically in the Retirement/Annuity/Pension domain.
- Strong understanding of insurance retirement products, pension schemes, and associated financial processes.
- Familiarity with accounting terminology such as reserves, premiums, amortization, claims provisioning, and financial reporting.
- Excellent analytical, problem-solving, and communication skills.
- Experience with BA tools like JIRA, Visio, MS Excel, and PowerPoint.
- Ability to work collaboratively with cross-functional teams and stakeholders.
- Knowledge of regulatory standards applicable to insurance and retirement products.
Preferred Qualifications:
- Experience working with actuarial teams and financial reporting departments.
- Exposure to system implementations and integrations involving insurance and accounting platforms.
- Professional certifications such as CBAP, PMI-PBA, or CFA are a plus.