As we close out 2020, BCS checks in with Vice President, Financial Planning and Analysis, Dean Korolis, as he reflects back on the past year and the work his team has done in response to the pandemic.
Q: Describe your/your team’s role at BCS.
A: My team is responsible for the financial planning and analysis function of the organization. The team’s goal is to be communicative; both in terms explaining the financials to our operational and management teams as well as listening for changes that could affect our profitability. We interact with teams across the company to assess the progress and effectiveness of the company’s strategic plans and investments. We strive to be a resource to support decision-making.
Our work product ranges throughout the year given the circumstances impacting the company. During the first half the year, the team completed models to calculate the impact of COVID on our business and supported our acquisition of Medical Risk Managers. During the last half of this year, we shifted our focus to forecasting and long-term capital planning. The team is also working diligently to develop more analytics using business intelligence solutions.
Q:What’s your favorite project you’ve worked on?
A: At the onset of the pandemic, we as a company quickly rolled out communication updates to our customer base, reevaluated business lines and expense structures, monitored statutory requirements all the while adapting to a work-from-home environment. With a chance to now look back, with a prospectively brighter 2021 ahead, I am proud of how the company rallied and responded to change brought on by COVID. Through it all, our company leadership and Culture Team ensured we remained positive, connected, and had fun. The pandemic really put into focus how many truly amazing people we have in our organization.
Q: How long have you been with the company? What’s kept you at BCS?
A: I have been with BCS for almost five years and each year brings a new set of challenges. During my time with BCS, we have engaged in major initiatives to improve our data processing and analytics platforms, launched a handful of new products to the market, assessed new reinsurance structures and expanded our distribution capabilities either through investments or acquisitions. The ability to touch all areas of the company and not just be a specialist in a certain role has kept me motivated and engaged. Further, the family atmosphere and the ability to work with great people each day keeps me at BCS.
Q: Describe your department in three words.
A: Analytical, communicative, and responsive.
Q: Do you have any special holiday traditions in your family?
A: The holidays are all about family and we are fortunate to have all our immediate family close – like really close — 10 minutes or so away. We head to church on Christmas Eve followed by dinner. Elf usually finds its way on to the TV and all kids unwrap the Saran Wrap Ball that is packed with odd gifts.