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Senior Business Analyst

Company: Munich Re
Location: Princeton
Posted on: March 30, 2024

Job Description:

Senior Business Analyst Company Munich Re America Services Location Princeton , United States

Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities.

MunichRe America Services (MRAS) IT Business Solutions delivers business value through the management of IT products including implementation of change projects in a disciplined, business focused, engaged and methodical way to MunichRe Global Specialty Insurance (GSI) organization.

This position will report to the Head of GSI Application Development within GSI and serve as a crucial technology support partner for business application owners. The primary responsibility is to ensure that products are maintained to deliver high-quality results in accordance with industry and Munich Re standard solutions. The focus is on alignment with risk and compliance requirements to cover the financial and insurance operational capabilities of GSI.

The role can be fully remote or hybrid based in any location within the hub structure of our global IT organization.

As a Lead Business Analyst, you will play a key role in impacting the organization by supporting the growth strategy and competitive positioning of GSI business units. This involves analyzing system-related business processes (within a single domain and cross-functional), identifying and initiating business process improvements in collaboration with business stakeholders.

You will act as the primary liaison between project teams and stakeholders in business units. Your responsibilities include eliciting requirements, shaping business needs, and ensuring that the project scope is clearly understood and articulated from the outset. Throughout projects, you will collaborate with project sponsors and managers to ensure that requirements are met, and issues are proactively managed.

Key Responsibilities

  • Working closely with multiple stakeholders to gather, analyze and define current governance, risk and compliance processes of as well as requirements in the area
  • Translating business requirements into detailed functional specifications.
  • Supporting the Project Manager in delivering the project plan on time and on-budget. Follow project methodologies - MR Essentials - as applicable.
  • Ensuring requirements issues are tracked, reported and resolved in a timely manner
  • Effectively communicating plan, status, risks and issues to the stakeholder in a precise and timely manner
  • Supporting users' participation in deployments and implementation activities
  • Provide traceability of requirements and subsequent change requests, tracking delivery of those requirements by the project team
  • Assist with business testing preparation and execution on project deliverables, ensuring the solution meets business expectations based upon approved project scope
  • Create appropriate level of product documentation (required for maintenance and support)
  • Leading and supporting the analysis of reinsurance underwriting related business processes, identification and initiation of business process improvements in close collaboration with business stakeholders and technical architecture
  • Providing key analytical skills to discover and understand major business problems, document the requirements for IT systems both as text and models
  • Creating and managing the business requirements in the product backlog (agile way of working), feature testing and managing user acceptance tests
  • Driving the alignment, assessment, and prioritization of identified demands within the respective business units and thus leading and driving the related project and product backlogs together with project management
  • Ensuring a consistent, integrated and resilient target system and data landscape to enable cost efficient digital businesses Key Accountabilities
    • Establish strong partnerships with assigned business units to thoroughly understand short- and long-term goals of the business strategy. Deliver high-quality and strategic solutions to support business strategy.
    • Analyze business requirements and demands across the entire business value chain, applying key analytical skills to understand business problems. Document, test, and deliver requirements for IT systems.
    • Document detailed business requirements and specifications, ensuring agreement at all levels throughout the business. This includes "As is," "In-term," and "Target State" business process modeling, along with documentation of epics, features, user stories, acceptance criteria, user interface mock-ups/specifications, gap analysis, and non-functional requirements.
    • Take on the requirements lead role in Agile system implementation projects, supporting the IT system implementation and ensuring alignment with project methodologies such as MR Essentials.
    • Support the Project Manager in timely and budget-conscious project delivery, providing analysis of business demand for IT system support, automation, and digitalization of business processes.
    • Derive system requirements from business demands, translating them into specifications at both architectural and detailed levels.
    • Coordinate feasibility studies, produce business cases, assess options, and present recommendations.
    • Support users' participation in deployments and implementation activities, ensuring traceability of requirements and tracking their delivery by the project team.
    • Assist in business testing preparation and execution on project deliverables, ensuring alignment with approved project scope and meeting business expectations.
    • Create the necessary level of product documentation for maintenance and support.
    • Ensure effective deployment and support of supporting IT systems, processes, and organizational changes.
    • Assist in producing training materials for new systems/processes and collaborate with business owners to ensure effective benefit realization. Qualifications
      • University degree, preferably in Computer Engineering / IT or similar qualification
      • 8+ years of business analyst or related experience, ideally within IT or governance, risk and compliance related projects
      • Solid understanding of software development lifecycle and agile project management methodologies e.g. Scrum.
      • Demonstrated ability to work globally across entities and cultures
      • History of leading and supporting successful projects
      • Exceptional analytical, facilitation skills and attention to detail
      • Strong planning, organizational, and time management skills
      • Experience of working with state-of-the-art policy admin, billing, claims, actuarial, finance and accounting systems, Data Warehouses, ETL processes.
      • Consulting and collaborative working style creating a culture of accountability and sharing
      • Business acumen - able to easily grasp business topics and to view and present things from a business perspective rather than IT
      • Fluent spoken and written English
      • Ability to work hybrid from the Princeton, NJ office 2-3 times a week
        At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

        We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Munich Re America Services, Inc. is a services provider to affiliated group companies primarily related to general services, procurement and IT services.

Keywords: Munich Re, Trenton , Senior Business Analyst, Accounting, Auditing , Princeton, New Jersey

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