Distribution Compensation Senior Officer

Distribution Compensation Senior Officer

Prudential Assurance
2-4 years
Not Specified

Job Description



Prudential's purpose is to help people get the most out of life. We will deliver our purpose by creating a culture in which diversity is celebrated and inclusion assured, for our colleagues, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and in exchange, we support our people's career ambitions. We pledge to make Prudential a place where you can Connect, Grow and Succeed.Take responsibility and ensure all payments to salesforce are exactly calculated and paid following company's policies and compensation scheme. Provide advices to stakeholders on the feasibility and methodology of compensation calculation
1. Compensation calculation
  • Ensure all payments paid the sales force, including income tax, other income, deduction, etc. are calculated and paid following the company's policies and compensation scheme as set out by Distribution department.
  • Review e-payment request and agent income adjustments, ensure proper approval and documentation.
  • Fine-tune existing Compensation calculation tools to increase calculation speed and ensure logical flow of calculation queries.
  • Work closely with team members to gradually transition existing Access tools to compute using SQL or related software
  • Take responsibility for all compensation paid to the in-charge channel and be the key contact point with stakeholders including answering questions from salesforce regarding compensation calculation.

2. Develop and implement annual compensation scheme
(Xy dng v trin khai chng trnh thu nhp hng nm)
  • To be in-charge of setting up commission rates and coordinating with other departments for testing new products to ensure correct commission and other allowance to be paid to saleforces
  • Provide historical data to support Distribution channels and Finance Business Partner in revising annual compensation scheme.
  • Actively participate in meetings with other departments to provide advices on the feasibility of the calculation.
  • Work closely with IT and Distribution department to set up or revise calculation program in company's core system.

3. Knowledge management
  • Provide coaching to new employees on the purpose and definition of existing tables in core system as well as existing tools currently being used in Distribution team.
  • Ensure distribution compensation operating manuals are updated.

Job Accountability /
Compensation calculation is accurately prepared and reviewed within agreed timeline.
Compensation calculation approval is in compliance with the company policies.
Ensure new compensation schemes can be calculated before issuing memos to the salesforce.
Job Requirements / Yu cu
Qualifications
  • Basic requirement : Bachelor degree in Economics, Finance, IT or a relevant degree

(Yu cu c bn: Bng c nhn Kinh t, Ti chnh, CNTT hoc bng cp lin quan)
Experience
  • Working experience of 2 - 4 years in a relevant field

(Kinh nghim lm vic 2 - 4 nm trong mt lnh vc lin quan)
Knowledge and skill / Kin thc v k nng
  • Basic skill: Good command of Excel, Access or SQL to process big data.

(K nng c bn: Thnh tho Excel, Access hoc SQL x l d liu ln)
  • Basic skill: Good interpersonal skills, team work spirit, work organization skill, logic and math skill

(K nng c bn: giao tip tt, k nng lm vic nhm, k nng t chc cng vic, k nng logic v ton hc )
  • Demonstrated experience in compensation payment to different sales forces.

(Kinh nghim trong thanh ton thu nhp cho cc lc lng bn hng khc nhau)
  • Knowledge about insurance industry and its compensation schemes

(Kin thc v ngnh bo him v cc chnh sch thu nhp)
Competencies / Nng lc lnh o
Leadership Capability Model - Foundational level:
(M hnh nng lc lnh o - Cp c s)
Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with special requirements.

Job Details

Employment Types:

Industry:

Function:

IT

Prudentialplc provides life and health insurance and asset management, with a focus on Asia and Africa. We help people get the most out of life, by making healthcare affordable and accessible and by promoting financial inclusion. We protect people's wealth, help them grow their assets, and empower them to save for their goals. The business has more than 18 million life customers in Asia and Africa.Prudential has been providing trusted financial security for 95 years and is listed on stock exchanges in London, Hong Kong, Singapore, and New York. We are proud to be included in the 2022 Bloomberg Gender Equality Index. The index measures gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and pro-women brand. Our inclusion in this global index is testament to our commitment to nurturing diverse talent. #BloombergGEI . Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America or with the Prudential Assurance Company, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

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