Business Incentive Analyst

1 week ago

Mumbai Maharashtra India, Maharashtra Hiranandani Financial Services Full time

The Business Incentive Analyst will be responsible for the accurate calculation, reporting, and timely payout of business incentives across different departments or teams. This role involves working closely with HR, Finance, Sales, and Operations teams to ensure that incentive programs align with company goals and that payouts are made in compliance with company policies.

Key Responsibilities:

  1. Incentive Calculation:
  • Calculate business incentives based on set criteria, including sales targets, performance metrics, and other key performance indicators (KPIs).
  • Ensure all incentive plans are adhered to and payouts are accurately calculated according to the plan specifications.
  • Conduct regular audits to verify the accuracy and integrity of incentive data.
  • Update incentive calculations in response to any changes in business goals or team objectives.
  1. Data Management & Reporting:
  • Maintain accurate records of incentive structures, team performance data, and payout history.
  • Generate monthly, quarterly, and annual reports for senior leadership on incentive payout performance and trends.
  • Analyze incentive data to identify patterns, discrepancies, or areas for improvement.
  • Prepare and distribute incentive payout statements to relevant stakeholders (employees, managers, HR, etc.).
  1. Payout Execution:
  • Coordinate with HR and Finance departments to ensure timely payout of business incentives.
  • Oversee the process for calculating commission and bonuses for sales teams or other business units.
  • Manage the payout process for both one-time bonuses and recurring incentives.
  1. Compliance & Documentation:
  • Ensure all incentive programs are compliant with company policies
  • Maintain up-to-date documentation of incentive schemes and payout processes.
  • Provide necessary information for audits or external reviews.
  1. Cross-Functional Collaboration:
  • Work closely with Sales, Marketing, Collections and Operations teams to ensure incentive schemes reflect performance accurately and are properly communicated.
  • Act as a point of contact for employees with questions or disputes regarding their incentive payouts.
  • Collaborate with relevant teams on the incentive calculation and payout processes.
  • Collaborate with business leadership and HR to optimize incentive plans for better alignment with organizational goals.
  • Recommend improvements or adjustments to incentive structures based on industry trends, employee feedback, and business objectives

Skills & Experience

  • Strong proficiency in Excel, including complex formulas, pivot tables, and data visualization.
  • Knowledge of incentive management software or ERP systems (e.g., Xactly, SAP).
  • Analytical mindset with a high attention to detail.
  • Strong communication skills, both written and verbal.
  • Ability to work collaboratively across departments and handle sensitive financial data.
  • Strong problem-solving skills and the ability to troubleshoot incentive-related issues.

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