
Kotak Life Insurance
2 days ago
Position: Head - Sales Incentive
Designation: Vice President
Grade: L7A
Department: Human Resources
Location: Goregaon East IT Park, Mumbai
1. Sales Incentive Strategy & Design:
- Develop and execute holistic sales incentive frameworks across multiple distribution channels (agency, bancassurance, direct, digital).
- Align incentive schemes with organizational goals, revenue targets, persistency, and cross-sell objectives.
- Ensure all schemes are designed within approved budgets and deliver optimal ROI.
- Analyze sales trends and performance data to recommend plan modifications and enhancements.
- Benchmark against industry practices to ensure competitiveness and effectiveness.
2. Incentive Program Governance & Execution:
- Oversee accurate and timely calculation and disbursal of incentive payouts.
- Coordinate closely with Sales Support, Payroll, and Finance teams to ensure correct payout processing and accounting treatment.
- Define governance frameworks to ensure transparency, auditability, and adherence to internal policies and IRDAI guidelines.
- Manage all audits (internal, concurrent, statutory) for incentive payouts.
- Identify, manage, and mitigate risks associated with incentive programs
3. Stakeholder Collaboration:
- Partner with Sales, Finance, HR (Distribution), and Compliance to co-create and validate incentive designs.
- Provide senior sales leaders with data-driven insights, program diagnostics, and recommendations.
- Lead structured communication and training sessions to ensure field sales teams fully understand incentive structures.
4. Performance Analytics & Reporting:
- Monitor incentive effectiveness, sales productivity, and ROI of incentive spends.
- Build dashboards and executive reports highlighting incentive impact on business outcomes.
- Continuously refine incentive programs through data analysis, feedback loops, and scenario planning
5. People & Team Management:
- Lead, mentor, and develop a team of analysts and incentive specialists.
- Build advanced team capabilities in data modeling, scenario analysis, automation, and stakeholder management.
6. Tech Automation:
- Ideate, design, and drive automation of incentive processes for accuracy, scalability, and speed.
- Ensure timely updates of schemes on incentive management platforms.
- Partner with technology teams to integrate incentive platforms with sales MIS and payroll systems
Education: MBA in HR, Finance, or related discipline from a reputed institute.
Work experience in years:
- 10-15 years with strong exposure to sales incentives, compensation strategy, and performance management, preferably in insurance or financial services.
- Strong understanding of sales operations and incentive levers.
- Proficient in Excel, analytics tools, and incentive management software.
- Exceptional analytical, problem-solving, and stakeholder management skills.
Skills / experience required:
- Reports, analytics and MIS
- Strategic Thinking & Business Acumen
- Data modeling, analytics, scenario simulations, and incentive automation platforms
- Strong team management, stakeholder influence, and cross-functional collaboration
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