Compensation Manager

2 weeks ago

Singapore beBeeManager Full time

Job Opportunity

We are seeking a meticulous and analytical professional to oversee the end-to-end management of sales commission schemes for our 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.

Main 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 leaders to review, design, and enhance agent compensation structures to align with business objectives.
    • 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.
    • Support internal and external audits related to compensation and sales incentive schemes.
  • 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.
    • Detail-oriented, analytical, and process-driven.
    • Strong communication and stakeholder engagement skills.

This is an exciting opportunity to join our team and make a meaningful impact on our business.

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