Head of Agency Compensation and Performance

6 days ago

Singapore CHUBB ASIA PACIFIC PTE. LTD. Full time

**_This is an Agency position in the Asia office, based in Singapore _**

Collaborate with APAC senior leadership and represent Chubb Life Global Agency team to formulate the following to achieve Chubb Life’s strategic ambitions in targeted markets.

**Responsibilities**:

- Compensation (Commission Structure, Basic and Leader Overriding) - Support local business unit to build new, make enhancement on existing, check and balance (with short/long term financial implication, sensitivity testing, risk analysis, market benchmark, control mechanism) before implementation. Review current compensation effectiveness periodically. Make recommendations to meet business objectives.
- Compensation (Indirect expenses) - Review local compensation effectiveness periodically. Especially to oversight on large expenses items including foreign trips, agency office space, MDRT initiatives, recruitment initiatives. Make recommendations to meet business objectives.
- New agency model (2 tiers compensation system, Champion Hubb, One Chubb, Referral) - Lead and ensure successful local implementation. Continuously track and review performance. Make adjustment and recommendations as needed.
- Channel efficiency - Review, forecast local agency channel value and profitability. Study management expenses and acquisition cost (example staff manpower, salary and compensation effectiveness, organisation chart and span of control, etc) Make recommendations to meet business objectives.
- Channel quality - Persistency (renewal business) management including local performance and initiatives tracking and implementation. Also to lead and manage any Risk, Compliance, Legal framework, scorecard and related initiatives.
- Industry recruitment - Support local to attract external industry leaders via competitive financial scheme (design, review, enhance, negotiate as needed), build comprehensive presentation slides, review contract terms and conditions, coordinate support and seek approval from stakeholders in local and global office. Develop on-boarding team, track early-stage performance to ensure successful business plan execution.

**Knowledge and Skills**:

- Direct hands-on experience in agency compensation, commission and expenses account.
- Direct hands-on experience on different agency model (including multiple tiers, different layers, full-time/part-time, add-on financing, branch model, GA model, outhouse/inhouse).
- Oversight on daily, weekly, monthly, quarterly yearly data and information. Advance skills on observations, forecast and predictions. Heads-up on strong and weak indicators and relevance performance.
- Strong management and leadership skills for complex and multi-dimensional issues and high level of innovation and creativity in resolving problems.
- Strong leadership, interpersonal and influencing skills especially at Level-C.
- Team player with good working relationship with all staff levels.

**Qualifications**:

- Bachelor’s degree minimum, relevant professional industry qualification preferred 10+ years job experience in life insurance in Asia markets, with at least 5 years focusing on agency development or related.
- Good at details and tracking including project management and execution.
- Good command in English and one native language (Asia) in both speaking and writing.
- Good team player, gain trust, add value to local business, stay close to the front-line.
- Strong business sense, quick thinking and accept ad-hoc challenges.
- High degree of independence.

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