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For Automatic transmission application, crankshaft torque is transferred to torque converter through flex plate. As the flex plate has no functional requirement of storing energy as in case of Manual Transmission (MT) flywheel, flex plate design can be optimized to great extent. Flex plate structure must have compliance to allow the axial deformation of torque convertor due to ballooning pressure generated inside the converter. Flex plate experiences dynamic torque and centrifugal forces due to high rotational speed. It should have compliance to accommodate the assembly misalignments with torque convertor in both axial and radial directions. In this paper, sequential and hybrid optimization techniques are described to optimize the flex plate design with stress, stiffness and mass as design constraints. The load path, corrugation length and axial stiffness of flex plate captured accurately using this hybrid optimization.