Fifteen years ago, when he was employed as an IT professional, Vikash Hurrydoss made a decision that would shift his career into an entirely new direction. He embarked on a journey towards his ACCA qualification, because he wanted to ‘better understand how business worked’.
‘I was initially trained in IT,’ he explains, ‘and had spent the first couple of years of my career working as a software engineer and in management consultancy. Somewhere along the line, an opportunity came up to take on a role at Munich Reinsurance in Mauritius. It sounded like an interesting opportunity, so I applied and was fortunately selected for the role.’
‘We help businesses stand back up again whenever they meet with calamities or losses’
Societal role
His entry into the world of reinsurance may have been born out of curiosity, but over the years it has turned into a fierce passion for the industry.
He says: ‘I sometimes joke with my colleagues in the industry that reinsurance is kind of a vortex. You don’t plan to get into it, but once you’re in, you just don’t want to get out of it.
‘On a more serious note, I feel really privileged to be working in an industry where we play a subtle but important role in society. We are helping individuals and businesses to stand back up again whenever they meet with calamities or losses. What we do allows them to confront the future with more resilience, and it’s humbling to be a part of this.’
‘We look at digitalisation as a continuous improvement process’
CV
2018
Head of regional middle office centre, Asia Pacific, for Munich Re, Singapore
2016
Head of operations and finance, Old Mutual Group, Mauritius
2010
Lecturer in finance and accounting, University of Technology, Mauritius
2009
Head of technical accounting, Munich Re, Mauritius
2006
Management consultant, Moore Stephens, Mauritius
Since 2018, Hurrydoss has been based in Munich Re’s office in Singapore, overseeing its middle office operations in Asia and Australia. Hurrydoss explains the role that he and his team play as one of ensuring proper accounting so that when the time comes to pay out an insurance claim, the money will be there.
While his team’s function is very much rooted in core accounting functions, he also recognises that, more than ever, they are also expected to handle work related to non-core areas such as benchmarking and process improvement. ‘This happens as we implement new standards or need to comply with new regulatory requirements.’
To ensure his team stays on top of their expanded functions, he says that digital transformation is crucial. ‘It’s not really a decision about which task to prioritise – all are equally important. Fortunately, digitalisation helps us to free up bandwidth.
‘Right now, we have in our team an automation consultant, and dedicated resources at group level for implementing tools to increase efficiency. But what has really helped us at Munich Re is looking at digitalisation as a continuous improvement process. We don’t really think about finance transformation as a specific agenda, because it’s just very much the way we do things. It’s incremental and it’s continuous.’
‘Teaching gives a unique perspective for reflecting on whether things can be improved upon’
Different lenses
One of the things that Hurrydoss appreciates most about going through the rigours of the ACCA qualification is how it has trained him to look at business from a more macro perspective.
‘ACCA has definitely contributed a lot to shaping the way I see the world. It has also made me more aware of the financial implications of decisions and actions that I make. Beyond imparting technical skills, ACCA has an equal focus on providing graduates with a strategic mindset, giving a strategic as well as an operational view of business.
‘And this is really one of the key reasons why Munich Re is an ACCA approved employer. Because we know the value that an ACCA-qualified finance professional brings to the table.’
Outside of Munich Re, Hurrydoss takes a keen interest in teaching and mentoring. In fact, between 2010 and 2018 he used to lecture on corporate finance and financial reporting at the University of Technology, Mauritius.
‘One thing that excites me about academia is that I am able to provide my students with a practical view about what’s happening in the industry. But it’s not just the students that are benefiting from my experience. I find that as I teach others, I am learning even more. It has given me a unique perspective to reflect on why I do the things I do at work, and whether things can be improved upon.’
‘There is something to be learnt from every interaction we have’
Formula for success
Since relocating to Singapore, Hurrydoss has taken a break from academia. However, at Munich Re he continues to use the skills he honed as an educator.
‘One of the key things I developed as a lecturer was effective communication. Today, I use that skill to convey complex financial concepts in a non-technical manner to my colleagues who sit in different functions.’
He has also refocused his teaching energies towards coaching and mentoring his team. He says: ‘One of the things that I have been emphasising to my team is that there is something to be learnt from every interaction that we have, be it with colleagues in different departments or with vendors and others outside the organisation.
‘When I first started out, I was very focused on developing technical capabilities. This is critical and important to get the job done. But at the same time, we also need to realise that we are in a state of interdependency with others. It is important to really put in the time and effort to be intentional about building meaningful working relationships.
‘This is really how you get to understand your role better and where you sit within the wider purposes of the organisation, and how to achieve your goals, whatever they may be.’
Munich Re
Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake through to Hurricane Ian in 2022. In 2023, the Group generated insurance revenue of more than €57 billion.
Munich Re takes pride in being recognised as an ACCA approved employer, including the esteemed platinum status for trainee development, across all its offices in the Asia-Pacific, Middle East and Africa region.
