Job Title: Business Analyst
Location: 500 Hwy 7, Richmond Hill, ON L4B 1J1
Employment Type: Full-time / Permanent
Salary: $60,000 - $70,000
Reason for Vacancy: New position
Who we are:
Established in 2008, My Insurance Broker is a proud family-owned and Canadian-operated brokerage. As one of Ontario's fastest-growing online brokerages, we have forged strong partnerships with Canada's leading insurance companies. With multiple offices across Southern Ontario and a dedicated support center in Richmond Hill, we are committed to delivering superior pricing, comprehensive coverage, and exceptional service to our clients.
About the role:
We are looking for a highly analytical and data-driven Financial Business Analyst to manage the day-to-day budgeting, forecasting, variance tracking, and financial reconciliations for our brokerage's business units.
What you’ll be doing:
Budgeting, Forecasting & Financial Modeling
- Collaborate with leadership to build, maintain, and update annual operating budgets and rolling monthly/quarterly financial forecasts, predicting top-line revenue based on policy renewal cycles and producer pipelines.
- Develop robust financial models and feasibility studies to evaluate the ROI and impact of potential book-of-business acquisitions, new producer hires, or changing carrier commission structures.
- Analyze financial statements and premium financing trends to model producer commission structures, track carrier payouts, and optimize corporate operational cash flow.
Variance, Profitability & Reporting
- Assist in core financial reporting functions, ensuring that all financial data across business units is highly accurate, complete, and delivered in a timely manner.
- Conduct monthly and quarterly variance analysis - comparing actual revenues (commissions/fees) and expenses against budgeted targets and historical performance - and collaborate with department heads to investigate and explain anomalies.
- Prepare comprehensive monthly financial reports for leadership, highlighting critical performance indicators (KPIs) such as organic growth rates, retention ratios, and expense margins.
- Analyze the profitability of specific product lines (Commercial Lines, Personal Lines) and individual producer books of business to identify growth opportunities or cost drains.
Business Analysis & Process Optimization
- Proactively investigate financial discrepancies, identify underlying financial trends, and propose data-backed solutions to optimize internal financial processes.
- Translate complex business needs into clear operational requirements, documentation, and traceability materials.
- Build a deep understanding of business processes and their impact on operations to promote a culture of continuous improvement and operational excellence.
- Communicate complex analysis, strategic recommendations, and financial results clearly to stakeholders and executive management.
- Perform other duties as required.
What we need you to bring:
- 3–5 years of relevant experience in financial analysis, accounting, or business analysis.
- Previous insurance brokerage or financial services experience is preferred.
- Experience working with EPIC, our Broker Management System, is considered an asset.
- Proficient with MS Office (Word, PowerPoint, Outlook).
- Proficient with insurance policy systems, download processes, and standard billing transactions (Agency Bill vs. Direct Bill dynamics).
- Expert understanding of financial statements (P&L, Balance Sheet, Cash Flow), premium financing models, and variance analysis frameworks.
- Advanced MS Excel & financial modelling skills:
- Expert-level mastery of MS Excel (dynamic arrays, advanced formulas, Power Query, Pivot Tables, and financial modelling).
- Ability to build clean, audit-ready, and dynamic forecasting reports.
- Advanced skills in Power BI to build and automate dynamic financial dashboards and reporting tools.
Please note this is a fully in office position.
My Insurance Broker is an equal opportunity employer committed to fostering an inclusive, respectful, and diverse workplace. We are committed to providing accommodation upon request for applicants and employees with disabilities, in accordance with the Ontario Human Rights Code and the Accessibility for Ontarians with Disabilities Act (AODA). If you require accommodation at any stage of our hiring process, please inform us and we will work with you to meet your needs.
Your application will be reviewed by a member of our recruitment team who will carefully assess your qualifications - never AI. We thank all candidates for their interest, however, only those selected for an interview will be contacted.
