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Finance Compensation Operations and Accounting
2 weeks ago
Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.
This role will report to Distribution Compensation Operations Lead to support distribution channels of PACS’ end to end process in ensuring compensation payout are accurate and timely while ensuring all financial operations are in-compliance. The role is expected to able to lead change and sub-stream of Company’s evolution into digital space where being passionate about data analytics is a must.
Job Profile Summary:
The role holder responsible Distribution Channel Compensation Operations and accounting. The role reports to Lead of Finance Compensation Team. The expectation of the role is accurate, efficient and timely processing and accounting of legitimate compensation while ensuring all financial operations are in compliant with relevant policies, statutory and regulatory requirement/guideline. The role holder is also expected to continuous seeking for an efficient, productive, and an effective processing/reconciliation of the compensation. All processing is expected to in compliant with rules and regulations. Reconciliation is key control to ensure there is no misstatement in financial statement. Prudential has complex multi-layer of business rule against system design and stay align with all governing rules. The role is expected to have good sense of risks, check and control. He / She appreciates the fundamental of embedded process controls as risk mitigation. It is the team’s esteem responsibility to alert the management of any potential issue and risk that could potentially impact the company unfavorably from various angles.
Job Description:
- Responsible for Distribution Compensation Processing and Accounting
- Fortnight/Monthly closing for Distribution Channel payment to ensure all compensation due are paid, posted and reconcile.
- Support review of channel reports and ensure dissemination by timeline set
- Support validation of Customer Campaign.
- General Ledger closing. Monthly/Yearly provision, amortisation, schedules are carried out according to the stipulated accounting paper/guideline.
- Policy System Distribution Compensation Accounting Rule eg Life Asia, Group Asia, Datahub or any auxiliary system where accounting rule is required.
- Posting of journal for all manual processing and payment.
- Reconciliation and audit schedule relating to Distribution Compensation.
- Support for audit (internal/external/regulatory/SOX) of Distribution Compensation.
- Maintenance of Distribution Compensation process flow/SOP documentation.
- Maintenance of Business provision and monitoring.
- Administration of deferred/long term incentive scheme.
- Administration of recurring/deferred financial arrangement.
- Support Finance Compensation Operations team for any queries relating to compensation.
- Oversight of End-to-End processing for compensation team.
- Settlement for invoices for Distribution Channel
- Credit control for recovery of dues from distribution channels
- Responsible to support the Distribution Compensation related project, enhancement or initiative.
- UAT for compensation related enhancement/initiatives.
- Preparation of Business Requirement/user story.
- Trouble shooting for production issue / fixes.
- Support the BAU processing.
- Other
- Filing for Distribution Compensation to IRAS.
- Administer the self-billing for GST registered Agent.
- Support Company-wide initiatives/project relating to Distribution Compensation.
Who we are looking for:
Competencies & Personal Traits
- Team player with good interpersonal skill to built rapport with the team
- Comfortable working in a fast-paced environment with tight timeline
- Commitment to deliveries and willingness to go extra miles
- Ability to deal with ambiguity and prioritise/manage multiple tasks.
- Enjoy interaction and collaborate with people from various backgrounds, mindsets and cultures
- Problem-solving skills
- Ability to forge consensus on win-win solutions to meet sound process efficiency, governance and management principles.
Qualifications
- Accounting Diploma/Degree holder
- Business Admin with at least 5 years of experience Distribution Compensation
