MDM Business Analyst

Location: New Jersey.

Type: Contract

We are seeking a skilled MDM Business Analyst with expertise in Insurance Taxonomy and Ontology to support our Master Data Management (MDM) initiatives. In this role, you will gather and analyze insurance-related data requirements, identify key business processes, and contribute to the design and implementation of MDM solutions tailored to the insurance industry. You will collaborate with cross-functional teams, including IT, data governance, data stewards, and business users, to ensure that insurance data is managed in a way that supports the organization's goals of accuracy, consistency, and compliance.

Key Responsibilities:

Requirements Gathering & Analysis:

· Collaborate with business stakeholders to document and define insurance-specific data requirements, including data elements, terminology, and classifications unique to the insurance domain (e.g., policy types, claims data, underwriting processes).

· Work closely with data governance teams to define insurance-related data quality standards, rules, and policies, ensuring compliance with industry regulations.

· Identify and analyze relationships between various insurance data elements, such as customer, policy, claim, and payment, to support seamless integration in MDM solutions.

MDM Solution Design & Implementation:

· Support the design and development of insurance-focused MDM workflows, data models, and processes, considering the complexities of insurance data (such as multi-dimensional relationships and hierarchical structures in policyholder data).

· Work with business users and technical teams to ensure that MDM solutions meet the unique needs of insurance data, including integration with legacy insurance systems.

· Participate in the design of insurance Taxonomies and Ontologies to organize insurance-related data effectively, facilitating easier classification, searchability, and reporting across systems.

· Provide input on insurance business use cases and specific data requirements during MDM tool selection and customization.

Data Integration & Management:

· Collaborate with technical teams to ensure proper integration of insurance-related master data across various systems such as CRM, ERP, and insurance-specific systems (policy management, claims processing, etc.).

· Define and assist in implementing data integration processes that ensure accurate data flow from source systems (e.g., underwriting tools, claims management platforms) into MDM platforms, with a focus on insurance data formats and standards.

· Support data cleansing, harmonization, and validation activities to improve the quality and consistency of insurance-related data across the enterprise.

Testing & Quality Assurance:

· Lead or assist in testing MDM solutions for insurance data, ensuring they meet business requirements and industry standards.

· Identify and resolve data quality issues during testing, particularly around the consistency of insurance taxonomies, classifications, and relationships.

· Ensure that MDM processes for insurance data adhere to data governance standards, policies, and compliance regulations.

Reporting & Documentation:

· Create and maintain documentation on insurance-related MDM processes, data models, and system configurations.

· Develop and maintain reports on the quality of insurance data, taxonomies, and MDM system performance, ensuring alignment with business objectives.

· Provide regular updates to stakeholders on the progress of MDM initiatives, especially those related to the insurance data domain.

Training & Support:

· Provide training and support to business users and data stewards on insurance MDM systems, taxonomies, and processes.

· Act as a subject matter expert for insurance data, answering queries related to taxonomy, ontology, and data integration issues.

Qualifications:

· Education: Bachelor’s degree in Computer Science, Information Systems, Business Administration, or related field.

Experience:

· 3-5 years of experience as a Business Analyst, with a focus on Master Data Management in the insurance industry.

· Hands-on experience with Insurance Taxonomy and Ontology, with a deep understanding of how insurance data is classified and structured.

· Experience working with MDM tools (e.g., Informatica MDM, SAP MDG, IBM InfoSphere) and insurance data platforms.

· Solid experience in data integration, ETL processes, and applying data governance frameworks to insurance data.

· Familiarity with insurance-specific terminology, business processes, and regulatory requirements (e.g., claims data, policyholder data, actuarial data).

Skills:

· Strong analytical and problem-solving skills, with an emphasis on insurance data complexities.

· Ability to communicate effectively with both technical and non-technical stakeholders, with particular emphasis on the insurance domain.

· Knowledge of data governance principles, especially as they relate to insurance regulations (e.g., GDPR, HIPAA, Solvency II).

· Familiarity with Agile methodology and project management for MDM initiatives.

· Proficiency in data analysis and visualization tools (Excel, Tableau, Power BI) with a focus on insurance-related data reporting.

Certifications (Optional but a Plus):

· MDM-related certifications (Informatica, SAP MDG, etc.).

· Business Analysis certifications (e.g., CBAP, CCBA).

· Insurance-related certifications (e.g., CPCU, AINS) would be a plus

Job Types: Full-time, Contract

Pay: $60.00 - $65.00 per hour

Benefits:

• 401(k)

Schedule:

• Monday to Friday

Experience:

• Data governance: 3 years (Required)
• Master data management: 4 years (Required)
• IBM infosphere: 1 year (Required)
• HIPAA: 1 year (Required)

Work Location: In person

Salary : $60 - $65