Summary
Overview
Work History
Education
Skills
Certification
Onsiteopportunity
References
Timeline
Generic

Vikash Parshuramka

Solution Architect (Techno functional BA) CSM®
Pune,MH

Summary

Seasoned Business Analyst offering 17 years of Insurance industry success. Expert on business and systems requirements, user acceptance testing and end-user training. Accomplished at leveraging past lessons to inform future decision-making. Domain knowledge of Life Insurance Industry. Experience in requirement analysis, Impact analysis, Development, UAT support and overall implementation of projects. Responsible for the identification, research and resolution of exceptions found from the comparison of financial data from 2 or more sources. Experience in working insurance package OPUS, Oracle and other related modules. Knowledge of traditional insurance Product, unit linked insurance Product, Group insurance Product, regular premium, single premium products and Riders. Knowledge of Life insurance distribution Impact analysis of business change on various sub modules. Training to development team on products, new business process and modules. Handling all types of internal /external audit queries and coordinating for the closure of the same (Access management, Change management and financial impact). Involved in PAS transformation as a Business Analyst (For- AS-IS, TO-BE, SIT and UAT). Managing L1 and L2 support team of 10 members for BAU. Other important function involvement : New Business, NRI GST waiver, Fund transfer, Payout & reissuance, Unclaimed (Stale and Control account).

Overview

18
18
years of professional experience
3
3
Certifications

Work History

IT and Finance Business Analyst

Bajaj Allianz Life Insurance Company
02.2011 - Current
  • Implementing new product launch activities which include functionality development for Life cycle of insurance (Buy journey,new business, underwriting,accounting, claims, policy servicing etc.)
  • Clear business understanding of the objectives of the requirement and clear understanding of the existing systems and aligning the new/change requirement without conflicts and ensuring that the systems/requirements are in compliance with regulatory requirement and internal guidelines
  • Proficiency in Insurance domain and exhibiting the expertise in requirement analysis and practical application of this knowledge
  • Various process enhancement projects like CDA Accounting, Surrender payout, Reversal of Surrender
  • Preparation of MIS Reports for monitoring generis/Specific Modules for all line of business, Automation of these reports including exception report for variance analysis at periodic intervals
  • Reconciliation of Units Movement and Control Accounts Increase & Decrease for 60 Funds on daily Basis on OPUS Framework
  • Identify, recommend and facilitate the implementation of process improvement initiatives to improve efficiency; Train and share knowledge with Team Members
  • Handling all types of internal /external audit queries and coordinating for the closure of the same (Access management, Change management and financial impact)
  • Involved in PAS transformation as a Solution Architect (For- AS-IS, TO-BE, SIT and UAT)
  • Managing L1 and L2 support team of 10 members for BAU
  • Other important function involvement : New Business, NRI GST waiver, Fund transfer, Payout & reinsurance, Unclaimed (Stale and Control account)
  • Conducted thorough variance analyses, identifying underlying causes of discrepancies between actuals and forecasts.
  • Managed month-end close processes efficiently, ensuring timely completion of financial statements with minimal errors.
  • Played a key role in the successful completion of multiple projects, consistently meeting or exceeding project deadlines and deliverables while adhering to budget constraints.
  • Improved financial forecasting accuracy by conducting in-depth data analysis and implementing advanced modeling techniques.
  • Developed and reviewed test plans and testing methodology to mitigate risks.
  • Partnered with business functions to define, determine, analyze, document and communicated objectives, business requirements and priorities for information systems and solutions.
  • Spearheaded initiatives aimed at improving internal controls over financial reporting, resulting in stronger safeguards against fraud or misstatement.
  • Implemented new accounting software solutions, significantly streamlining transaction processing times while maintaining data integrity.
  • Participated in the development of long-range strategic plans, providing valuable input on potential growth opportunities and resource allocation decisions.
  • Worked with application and technical experts on solution design, implementation, support, maintenance and enhancement of information systems.
  • Supported solution assessment and validation to check functional and technical specifications against identified business needs.

Senior Executive – Finance Operations

CAPITA INDIA PVT. LTD
10.2008 - 01.2011
  • Part of pilot process sent to Glasgow Scotland for a successful transition of Protection and Bonds accounts
  • Dealing with the Reconciliation and servicing of client base in Protection and Bonds account of Scottish Mutual Asset and Phoenix Life Asset
  • Handling Protection and Bonds account for onshore client base
  • Investigation on all aspects of investment of customers
  • Process and manage all standardized and non-standardized client escalations by conducting research/fact-finding and coordinating with the Capita onshore team when required; Conduct calibration calls with the client to understand expectations, provide feedback and reports and resolve queries or escalations
  • Assist the Team Manager in managing the work queues; ensure accurate and on-time reporting on quality, accuracy and complaints
  • Update onshore team with monthly process, product, accuracy & quality data pertaining to the performance of Team Members
  • Identify, recommend and facilitate the implementation of process improvement initiatives to improve efficiency; Train and share knowledge with Team Members to meet SLAs
  • Provide feedback to Team Members on their performance; and supervise the team in the absence of Team Manager
  • Finance generates report every month freezing the balances for the month
  • We need to match every single detail i.e
  • Debit, Credit balance, number of entries, the status of accounts etc
  • And finalize the monthly balance.

Operation Executive

BNY MELLON INTERNATIONAL OPERATIONS
02.2006 - 09.2008
  • Responsible for the identification, research and resolution of exceptions found from the comparison of financial data from 2 or more sources
  • Profile covers working on pilot process, related to Equity’s, Bonds, Mutual Funds Sale, Purchase Interest, Dividend, Fees and intimating the corporate action & Income processing to the client for Non Custody Accounts and settlements i.e
  • Settling the same for the management companies like Credit Suisse Asset Management, HSBC, Royal Bank of Scotland, Citigroup, to name few
  • Responsible for delivering training to new joiners, refresher training & query resolution to team members
  • Participate in user acceptance testing during new system implementations
  • Reconciling Non Custody and Custody Account
  • Matching Custodian and SEI (BNY Mellon Accounting System) for Non Custody Accounts
  • Correcting the discrepancy for Non Custody Accounts
  • Matching & Handling all sorts of Equity’s, Bonds, Mutual Funds Sale, Purchase Interest, Dividend, Fees and intimating the corporate action & Income processing to the client for Non Custody Accounts
  • N-Balance: Manual, Admin Match & Coding
  • SSR (Smart Stream Reconciliation) for Custody Accounts
  • Handling Con calls with Operations Manager on daily basis for discussion of MI (Mellon India) pack for that particular month
  • Collecting, organizing, and analyzing Team data, which include daily/weekly/monthly business reports
  • Diagnose and identify moderately complex non-custody (back office) reconciliation issues, as well as, demonstrating an understanding of the downstream impact of the reconciliation issues

Education

M.B.A (Finance) -

Dr. D.Y.Patil Institute of Management & Research Pimpri. Pune University

B. Com - undefined

Dr. D.Y.Patil college of Arts, Science & Commerce, Pimpri., Pune University

12th (Commerce) - undefined

C.B.S.E., Birla Senior Secondary School, Pilani.

10th - undefined

C.B.S.E., Birla Senior Secondary School, Pilani.

Skills

MS Excel, MS Visio 50, JIRA, MS power Point

HTML 5

SQL, PLSQL, Oracle 11g,insurance package OPUS

Manual Testing, UAT

SQL, PLSQL, Oracle 11g,insurance package OPUS

Windows, Linux, Android, iOS, Web

Excel proficiency

Certification

AMFI (Association of Mutual Fund In India) Qualified in March 2006

Onsiteopportunity

  • Worked in Scotland, United Kingdom on Cash Reconciliation Project for process Transition for the duration of 60 days
  • Represent Bajaj Allianz Life Insurance in Malaysia

References

Available on Request

Timeline

IT and Finance Business Analyst

Bajaj Allianz Life Insurance Company
02.2011 - Current

Senior Executive – Finance Operations

CAPITA INDIA PVT. LTD
10.2008 - 01.2011

Operation Executive

BNY MELLON INTERNATIONAL OPERATIONS
02.2006 - 09.2008

M.B.A (Finance) -

Dr. D.Y.Patil Institute of Management & Research Pimpri. Pune University

B. Com - undefined

Dr. D.Y.Patil college of Arts, Science & Commerce, Pimpri., Pune University

12th (Commerce) - undefined

C.B.S.E., Birla Senior Secondary School, Pilani.

10th - undefined

C.B.S.E., Birla Senior Secondary School, Pilani.

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Vikash ParshuramkaSolution Architect (Techno functional BA) CSM®