Manager – Planning

Role Overview

The Manager – Planning will oversee financial planning, budgeting, and forecasting for the life insurance business. The position places particular emphasis on operating expense control, Value of New Business (VNB), and profitability. It works closely with Actuarial, HR, and business teams to turn financial data into practical recommendations, maintain disciplined spending, and support strategic decisions in a regulated environment.

Operating Expense Planning and Control

• Prepare the yearly operating expense plan for the life insurance business, ensuring it reflects growth expectations, distribution priorities, and regulatory obligations.
• Review monthly operating expenses by comparing actual spend against the approved budget and forecast.
• Study cost changes across acquisition, maintenance, employee-related expenses, and overheads to understand the main cost contributors.
• Run monthly variance reviews, call out risks and savings opportunities, and coordinate with stakeholders to improve cost efficiency without affecting business expansion.

Budgeting for Actuarial and HR

• Lead the annual budgeting cycle for the Actuarial and HR functions, making sure assumptions are complete and accurate.
• Work with Actuarial teams on costs related to valuation, experience studies, modeling, consultants, and regulatory filings.
• Coordinate with HR to plan manpower-related costs such as hiring, incentives, variable compensation, training, and employee benefits.
• Ensure people costs and actuarial expenses remain aligned with the company’s long-term profitability and business goals.

Expense Analytics and Outlier Tracking

• Analyze expenses across channels and functions to identify unusual patterns, exceptions, and inefficient spending.
• Set up early indicators that help detect irregular trends quickly.
• Share clear, data-driven findings with senior leadership so corrective measures can be taken promptly.
• Improve cost governance through stronger MIS, standardized processes, and robust analytical methods.

Stakeholder Collaboration

• Serve as a finance partner to Actuarial, HR, Distribution, and senior leadership teams.
• Support planning and review meetings with functional leaders to ensure financial plans stay aligned with business strategy.

Core Skills and Competencies

• Solid understanding of life insurance economics, VNB, and profitability drivers.
• Strong capability in budgeting, forecasting, and variance analysis.
• Sharp analytical thinking with strong attention to detail.
• Comfortable working in a regulated and fast-changing business setting.
• Excellent communication, presentation, and stakeholder management skills.