Manager, Distribution Sales Commission & Compensation - #1112402

We are seeking a meticulous and analytical Manager to oversee the end-to-end management of sales commission schemes for our insurance agents. This role plays a critical part in ensuring timely and accurate commission processing, driving compensation strategies, and supporting business growth through effective incentive frameworks.

Key Responsibilities

Commission Operations & Accuracy

• Oversee the accurate and timely processing of monthly commissions, bonuses, overrides, and special incentive payouts for insurance agents.

• Monitor and validate commission outputs to ensure alignment with sales performance, contract hierarchy, and compensation plans.

• Manage exception handling, escalation, and resolution of commission discrepancies.

Compensation Strategy & Framework

• Collaborate with Distribution leaders to review, design, and enhance agent compensation structures to align with business goals.

• Evaluate existing commission plans for effectiveness and propose refinements where needed.

• Provide insights and analysis to support strategic compensation reviews and product launches.

System & Process Enhancement

• Partner with IT and system vendors to maintain and enhance the commission system (e.g., ensure rules and logic are updated accurately).

• Lead UATs for system changes, commission plan updates, and new incentive programs.

• Continuously improve workflow automation, reporting tools, and control mechanisms.

Reporting & Governance

• Generate and review monthly dashboards and reports on commission trends, cost analysis, and performance payouts.

• Ensure governance and compliance with internal audit, regulatory, and contractual requirements (e.g., MAS regulations, agent contracts).

• Support internal and external audits related to compensation and sales incentive schemes.

• Stakeholder Management

• Act as a key liaison between Distribution, Finance, Compliance, and HR on commission-related matters.

• Provide advisory support to sales leaders and agency force on compensation queries and incentive plan interpretation.

Requirements

• Bachelor’s degree in Accounting, Finance, Business, or related fields.

• At least 8–10 years of experience in commission management, incentive programs, or financial operations—preferably within the insurance or financial services industry.

• Strong understanding of sales compensation models for tied agency, IFA, or bancassurance channels.

• Proven ability to manage large datasets, complex calculations, and system-based commission rules.

• Proficient in Excel, commission platforms, and data visualization tools (e.g., Power BI, Tableau).

• Detail-oriented, analytical, and process-driven.

• Strong communication and stakeholder engagement skills.

• Experience with regulatory frameworks (e.g., MAS, AML, fit & proper) is a plus.