Assistant / Manager, Distribution Sales Commission and Compensation
1 week ago
Key Responsibilities
1. 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.
- 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.
- 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
- 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.
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Singapore INCOME INSURANCE LIMITED Full timeWe 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...
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Singapore INCOME INSURANCE LIMITED Full timeRoles & Responsibilities 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. ...
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