Business Analyst (Life Insurance Domain) at FIS

Are you a curious, motivated, and forward-thinking Business Analyst with a passion for the Life Insurance domain? At FIS, you'll have the opportunity to tackle challenging and relevant issues in the financial services and technology industries. We believe in empowering our talented people within a team that values openness, collaboration, entrepreneurial spirit, passion, and fun.

About the Team

In today's competitive market, life insurance firms must deliver superior returns and leverage cutting-edge technologies. The life insurance industry is increasingly adopting technology to broaden insurance accessibility. The Policy Admin Suite (Compass) is a complete and flexible insurance policy administration system that supports multiple business lines and products, delivering efficiency, cost savings, and speed to market. FIS is committed to providing clients with a modern Policy Administration system in the ever-evolving IT landscape.

What You Will Be Doing

As a Business Analyst within our Professional Services team, you will collaborate closely with clients, systems development engineers, and other business unit team members. Your responsibilities will include:

• Working with internal teams, client teams, and project managers to understand and analyze client requirements.
• Documenting business systems requirements for the business unit or function.
• Collaborating with the client to configure the Compass application according to their specific needs.
• Documenting client requirements in appropriately formatted business specifications.
• Assisting the Client Manager in obtaining client sign-off on requirements.
• Presenting client requirements to the Design Team to ensure a thorough understanding.
• Participating in design sessions for the development of new functionality.
• Participating in design sessions for the customization of existing functionality.
• Ensuring accurate reflection of client requirements in the logical specifications produced by the Design Team.
• Assisting in developing appropriate test plans at both functional and regression testing levels.
• Assisting support analysts in resolving production issues as they arise.
• Providing input during design sessions when necessary.
• Reporting on progress and managing activities according to plan.
• Applying your experience in testing life insurance products within a policy administration system.

A Day in the Life of a Business Analyst at FIS

Your day as a Business Analyst at FIS will be dynamic and engaging. You might start with a client meeting to gather requirements for a new policy feature. Following that, you could be documenting those requirements in detailed business specifications. A significant portion of your day might be spent collaborating with the Design Team to ensure your client's needs are accurately translated into functional specifications. You'll also be involved in testing new configurations, assisting in resolving production issues, and participating in strategic design sessions.

Why Pune, Maharashtra?

Pune, Maharashtra, is a vibrant hub for technology and finance in India. It offers a dynamic professional environment, a rich cultural heritage, and a high quality of life. FIS's presence in Pune provides opportunities to work with a diverse and talented team, access to cutting-edge technologies, and exposure to a global client base. The city's strong educational infrastructure and burgeoning tech industry make it an ideal location for career growth and development.

Career Path

At FIS, we're committed to fostering your professional growth. The Business Analyst role can be a springboard to various career paths within the organization. With experience and demonstrated expertise, you can advance to Senior Business Analyst, Lead Business Analyst, or even Project Manager roles. There are also opportunities to specialize in specific areas of the Life Insurance domain or transition into roles focused on product management or consulting. FIS provides comprehensive training and mentorship programs to support your career aspirations.

Salary and Benefits

FIS offers a competitive salary and benefits package that reflects the value we place on our employees. The salary range for a Business Analyst in Pune, Maharashtra, with Life Insurance domain experience is typically between ₹800,000 to ₹1,800,000 per year, depending on experience and qualifications. In addition to salary, FIS provides a comprehensive benefits package, including:

• Comprehensive health insurance plans (medical, dental, and vision)
• Generous paid time off (PTO)
• Company-matched 401(k) retirement savings plan
• Employee stock purchase plan (ESPP)
• Life insurance and disability coverage
• Flexible spending accounts (FSAs)
• Health savings accounts (HSAs)
• Wellness programs
• Employee assistance program (EAP)
• Tuition reimbursement and professional development
• Employee referral program
• Discounts on FIS products and services
• Paid parental leave
• Adoption assistance
• Commuter benefits
• Financial planning and legal assistance
• Employee recognition programs
• Community involvement opportunities
• Performance-based bonuses

FIS Culture

FIS fosters a culture of innovation, collaboration, and inclusivity. We value diverse perspectives and believe that a supportive and engaging work environment is essential for success. We encourage our employees to be entrepreneurial, passionate, and to embrace a spirit of continuous learning. We are committed to creating a workplace where everyone feels valued, respected, and empowered to contribute their best.

How to Apply

If you are a motivated and experienced Business Analyst with a passion for the Life Insurance domain, we encourage you to apply! Please submit your resume and a cover letter highlighting your relevant experience and qualifications through the FIS careers website.

Frequently Asked Questions (FAQs)

1. What is the primary focus of the Business Analyst role at FIS?

   The primary focus is on gathering, documenting, and translating client requirements for the Compass Policy Administration System, ensuring alignment with business needs and technical specifications.

2. What are the key skills required for this position?

   Key skills include strong business analysis, requirement gathering, documentation, communication, and analytical abilities, along with experience in the Life Insurance domain and familiarity with policy administration systems.

3. What opportunities for professional development does FIS offer?

   FIS offers tuition reimbursement, professional development programs, mentorship opportunities, and a variety of training resources to support employee growth.

4. What is the work environment like at FIS?

   FIS fosters a collaborative, inclusive, and innovative work environment where employees are encouraged to be entrepreneurial and passionate.

5. What is the typical career path for a Business Analyst at FIS?

   A Business Analyst can advance to Senior Business Analyst, Lead Business Analyst, Project Manager, or specialize in areas like product management or consulting.

6. What is the interview process like?

   The interview process typically involves an initial screening, followed by technical interviews, and a final interview with the hiring manager. Be prepared to discuss your experience, skills, and your approach to solving business problems.

7. What kind of projects will I be working on?

   You'll be working on a variety of projects related to the Compass Policy Administration System, including new feature development, system configuration, and customization to meet client-specific needs.

8. Does FIS offer relocation assistance?

   Relocation assistance may be available depending on the specific circumstances and the candidate's location. Please inquire with the HR department during the interview process.

9. What are the opportunities for remote work?

   The availability of remote work options may vary depending on the role and team. Please discuss remote work possibilities with the hiring manager during the interview process.

10. What is FIS's commitment to diversity and inclusion?

    FIS is committed to fostering a diverse and inclusive workplace where all employees feel valued and respected. We actively promote diversity in our hiring practices and provide equal opportunities for advancement.