Senior Manager, Agency Compensation & Incentives

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About the Role

Report to: Associate Director, Agency Planning & Strategic Initiatives
Location: Hochiminh City
Function: Agency Distribution | Department: Agency Planning and Strategic Initiatives
Role: Managerial

THE OPPORTUNITY:
We are currently looking for Senior Manager, Agency Compensation & Incentives who is responsible for:
- Designing and implementing innovative agency incentive schemes to boost agent productivity and engagement.
- Collaborating closely with cross-functional teams to ensure alignment with business strategies and timely execution.
- Continuously improving program effectiveness through data analysis and post-implementation reviews

ROLES AND RESPONSIBILITIES:

1. Strategic Design & Innovation of Compensation & Contests:

• Oversee and optimize the long-term organic compensation structures and short/mid-term inorganic compensation schemes for the Agency channel.

• Drive the team to research and deploy innovative, out-of-the-box contest models (e.g., gamification, cumulative reward packages, exclusive experiential trips) to break conventional routines and strongly drive Business targets.

• Monthly/Quarterly Drive: lead the monthly and quarterly tactical contests, ensuring they align perfectly with the company's business targets in each specific period.

2. Stakeholder Management & Approval Process:

• Financial Validation & Stress-Testing: Review and approve Cost-Benefit Analyses and ROI.

• Justify the financial viability, effectiveness, and feasibility of proposed schemes before the Management Board (CEO/CAO/CFO) to secure timely approvals.

3. Implementation, Communication & Performance Tracking:

• Packaging & Communication: Direct the team to collaborate with Marketing/Communications to translate complex contest terms into highly attractive, easy-to-understand communication materials (Slides, Infographics, Videos) for the sales force.

• Tracking & Operations: Partner with finance and reporting teams to establish tracking systems for periodic results (weekly/monthly), ensuring strong governance & control

• Post-Mortem Evaluation (Monthly/Quarterly Review): Lead deep-dive monthly reviews on contest performance and quarterly evaluations of organic/inorganic compensation. Identify success drivers, bottlenecks, and extract key learnings to fine-tune subsequent schemes.

4. Risk Management, Legal & Compliance Control:

• Ultimate Compliance Accountability: Ensure 100% compliance of all documents, terms, and conditions with local regulations (Ministry of Finance), internal legal frameworks, and corporate risk management guidelines.

• Loophole Mitigation: Rigorously review schemes to eliminate any potential loopholes that could lead to exploitation or sales misconduct, ensuring the department achieves zero audit points during both internal and external audits..

Additional tasks may be assigned as required to support evolving business needs.

REQUIREMENTS:

• Bachelor's degree or higher in Finance, Economics, Business Administration, Accounting, Marketing or Actuarial Science, or related field.

• 7+ years of hands-on experience in compensation design, incentive/contest planning, or sales performance management within Life Insurance (Highly Preferred), Banking and Financial Services

• At least 3 years of direct experience in a managerial or team lead role specializing in Compensation & Contest/Incentive Design.

• Proven ability to coach, mentor, and train team members in policy-making logic, financial modeling, and risk identification

• Strong data-driven mindset with sharp financial modeling skills to ensure schemes motivate the sales force while remaining cost-effective and optimized for the company

• Ability to lead brainstorming sessions to discover unique contest concepts that capture market trends

• Thorough understanding of the behaviors, mindsets, pain points, and psychological drivers of insurance agents and agency leaders

• Understanding of Ministry of Finance regulations regarding insurance commissions and expense limits

• Outstanding stakeholder management and expectation management skills diplomatic yet firm when collaborating with control functions (Legal, Compliance, Risk, Audit)

• Excellent presentation and slide-building skills to structure clear, logical, and persuasive business cases for senior executives

• Fluent in English and Vietnamese (written and spoken)