Position Name – Business Analyst - Finance Systems

Type of hiring – Fulltime

Location – Markham, ON (Hybrid - 3 days’ work from office)

Job Description:

The Business Analyst - Finance Systems will play a crucial role in analysing, designing, and implementing Finance Systems within the insurance sector . The ideal candidate will have a strong understanding of insurance accounting principles, mainframe constructs, and a solid grasp of Guidewire principles . This role requires excellent analytical skills, attention to detail, and the ability to work collaboratively with cross-functional teams. Strong written and verbal communication skills are paramount.

Assist with undertaking tasks related to Financial Accounting within the insurance sector. Gather and document technology needs from finance and accounting units, develop recommendations, and respond to queries. Conduct analysis to identify improvement opportunities, evaluate technology solutions, and support strategy development. Collaborate with stakeholders on project scope and deliverables, update processes for efficiency, and participate in creating test plans. Stay informed on industry advancements, monitor technology practices, and participate in training and projects. Ensure good customer outcomes by acting in good faith and supporting customers’ financial goals.

Key Skills:

• Analyze and document business requirements for Finance Systems.
• Excellent writing skills
• Collaborate with stakeholders to identify and prioritize system enhancements and improvements.
• Understand and interact with Guidewire and mainframe constructs in the context of finance systems.
• Conduct gap analysis and develop functional specifications for system changes.
• Ensure compliance with insurance accounting standards and regulations.
• Analyze data impacts on P&L statements and Balance Sheets.
• Understand basic accounting, including balance sheet, P&L concept.
• Work side-by-side with business teams throughout the life of the project, understanding their needs, communicating expectations, and developing customer-centric change proposals.
• Participate in system testing and validation to ensure accuracy and functionality.
• Create SQL queries and execute in Oracle & Postgres Databases.
• Provide training and support to end-users on new system features and processes.
• Monitor system performance and troubleshoot issues as they arise.
• Prepare detailed reports and presentations for management and stakeholders.

Candidate Requirements (in order):

• Experience/Industry knowledge: Minimum of 5 Years of experience as a Business Analyst in Finance Systems, with extensive experience in the insurance industry. Strong understanding of insurance accounting principles and practices. Familiarity with insurance industry regulations and standards, particularly in relation to IFRS17, OSFI, GISA, Facility Association, and GAA.
• Familiarity with Guidewire principles (PolicyCenter, BillingCenter, or ClaimCenter).
• Knowledge of mainframe constructs and their application in Finance Systems.
• Understanding of ETL transformations and their role in data processing.
• Expertise in SQL scripting.
• Proficiency in data analysis and reporting tools.
• Proficient in Visio, PowerPoint, Excel and Word.
• Hands on BA experience - writing requirements, creating user stories, process mapping, data modeling, maintaining data dictionaries etc
• Excellent communication and interpersonal skills.
• Strong problem-solving abilities and attention to detail.
• Ability to work independently and as part of a team.