Senior Manager-Incentive Payment - Mumbai (Intellion Square - HO)

JOB DESCRIPTION POSITION NAME Channel support- Incentive payouts DESIGNATION Manager POSITION GRADE L4 DEPARTMENT CPC-Channel Support SUB DEPARTMENT Incentive payouts REPORTING POSITION Assistance Vice President DOTTED LINE REPORTING TO ---- NO. OF POSITIONS REPORTING IN 2 MANAGEMENT LEVEL L6 OBJECTIVE OF THE ROLE Responsible for incentive payout and support for partners under multiple Variable agency channels for Kotak Life. KEY RESPONSIBILITIES Weightage · Risk identification and control monitoring for incentive calculated by system o Verification of scheme calculation performed by Vendor is correct o Identification of the major risk involved in process and mitigating the risk by implementing controls o Ensuring Timely checks of various schemes and identification of process gaps o Ensure accuracy, TAT and timelines for the payout are adhered to · Automation of payout processes and changes to the processes in liaison with vendor and business o Driving Vendor for end to end automation and ensuring all the projects are deployed as per timelines o Scheduling frequent calls with vendor and track development status o Provide inputs to Channels for payout simulations for new schemes o Helping sales strategy team for required calculations for implementation and feasibility of new schemes o BRD Preparation for any modifications in payout schemes · Provision and budget management o Liaison with accounts team for provisions, coordinating with channel team for budgets o Liaison with HR team for TDS, hold cases, FnF, recovery and others o Ensuring provision matched with details of HR, Distribution channel and accounts · Manage Partner escalations/queries and timely input for salary and incentive o Manage assist portal for partners responding timely to queries around Payout and hierarchy o Liaison with support teams to ensure queries relating to MIS, R&R, Persistency, Commission, etc are responded to o Maintaining and reconciling hierarchy of partners o Salary and incentive calculation, validation, audit o Ensure accuracy, TAT and timelines for the payout · Handling audits like IRDAI audits, Internal audits, statutory audits o Liaison with accounts team for provisions, coordinating with channel team for budgets o Liaison with HR team for TDS, hold cases, FnF, recovery and others 30% 30% 15% 15% 10% TOTAL 100% INTERACTIONS Internal Relations: Distribution team,Operations, Accounts, HR, Data Science, R&R team and accounts External Relations: Vendors REQUIRED QUALIFICATION AND SKILLS Educational Qualifications: CA Work Experience: Fresher with basic experience in Insurance industry Certifications: Other skill set: · Self-Managed · Willing to take initiative · Team-Worker · Data analysis · Eye for detail

• Experience: 0+ years
• Seniority: No Prior Experience Required
• Languages: English