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Singapore Income Insurance Limited Full timeAssistant / Manager, Distribution Sales Commission and Compensation Assistant / Manager, Distribution Sales Commission and Compensation 5 days ago Be among the first 25 applicants Get AI-powered advice on this job and more exclusive features. We are seeking a meticulous and analytical Manager to oversee the end-to-end management of sales commission...
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Assistant / Manager, Distribution Sales Commission and Compensation
4 weeks ago
5 days ago Be among the first 25 applicants
Get AI-powered advice on this job and more exclusive features.
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
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.
2. 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.
3. 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
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.
- Seniority level Mid-Senior level
- Employment type Full-time
- Job function Accounting/Auditing and Administrative
- Industries Insurance
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