Financial Planning & Analysis Manager

Who we are

GIG Gulf (a Fairfax company) is part of the Gulf Insurance Group (GIG), the #1 largest regional composite insurer in the Middle East and North Africa, with presence in 12 markets including the United Arab Emirates, Bahrain, Oman, Qatar, Saudi Arabia, Algeria, Egypt, Iraq, Jordan, Kuwait, Lebanon, and Turkey. GIG Group reported consolidated assets of US$ 4.01 billion and $84 million net profit for the year 2024. The majority shareholder of GIG Group is Toronto based Fairfax Financial Holding, a global leader in insurance and reinsurance with a presence in 40 markets.

GIG Gulf is an ‘A’ rated regional insurer with a top 5 position in each of its markets (UAE, Oman, Qatar, Bahrain). GIG Gulf has been present in the region for over 70 years with a strategic focus on both growth and investments and is a one stop shop offering a wide range of insurance products and services that cater to a broad variety of needs for corporates, SMEs and individual customers throughout UAE, Oman, Bahrain, and Qatar. GIG Gulf also owns a 50% stake in GIG Saudi. Our strategic objectives and guiding principles are focused on Regional Growth, Customer Experience and Digital Transformation.

GIG Gulf has created a diverse and inclusive working environment and culture with a workforce of over 800 employees, with over 60 nationalities, across 15 branches and retail shops region-wide and over 1 million customers. GIG Gulf is a caring partner that encourages customers to achieve their goals and live an inspiring and fulfilling life. We are obsessed with customer feedback and continuously evolving to become the region’s digital insurer of reference, committed to running our operations in a responsible, sustainable way.

Job purpose

To support the PBR & strategy team with monthly and quarterly financial reporting, financial forecasting & budgeting, review of intermediary non-standard commissions, and other analysis as required.

Key Responsibilities

• Preparation of Budgets, 5-Year Strategic Planning and all the Forecasts of the company i.e., Profit and Loss by Line of Business, Balance Sheet, Cash-Flows, etc.
• Creating and maintaining financial forecasting models using experience from current models to adapt for developments in the business and to ensure all Group and Company detailed requirements are captured
• Analysing trends in actual performance vs Budget, and building findings into forecasts, Budgets and Longer terms business plans
• Computing and projecting solvency requirements and dividend capacity
• Delivery of evaluation studies/reports providing insight into the internal performance of the business portfolio
• Evaluation of business plans and profitability analysis of business activities, key partnerships, M&A or other business opportunities to aid senior management decision making

Operational & Technical Responsibilities

• Designing and implementing business analysis/reporting dashboards/reports from Company operational systems and other data sources in conjunction with IT/Data teams
• Provisioning and review for non-standard commissions payments to intermediaries and obtaining CFO approval prior to payment
• Extracting and compiling financial information and making required adjustments for the monthly financial closing process and quarterly Group reporting process using Internal and Group reporting systems/tools as necessary
• Compiling data on the insurance market from Regulators, Individual Company Financial Statements and other sources as required
• Providing ad hoc financial analysis as required

Essential Requirements

• University graduate with strong academic credentials
• 3-5 years within a business planning, strategic planning, or advisory role
• Advanced command of MS Excel & building financial models/projections with knowledge of macros, report automation and dashboard generation
• Advanced command of accounting and finance and understanding of drivers of Financial & Business Performance