Incentive Calculation Executive- Deputy Manager

2 days ago

Mumbai City District, India Kotak Life Insurance Full time ₹ 12,00,000 - ₹ 36,00,000 per year

Designation:- Deputy Manager

Grade:- L2

Office Location:- Goregaon East, IT Park

Key Responsibilities;

  • Risk identification and control monitoring for incentive calculated by system
  • Verification of scheme calculation performed by Vendor is correct
  • Ensuring all the calculation done by systems are complete and correct
  • Ensuring Timely checks of various schemes and identification of

process gaps

  • Ensure accuracy, TAT and timelines for the payout
  • Discussing observation with vendor if any and resolve the issue with

required RCA

  • Timely provide salary and FnF input
  • Automation of payout processes and changes to the processes in liaison with

vendor and business

  • Driving Vendor for end to end automation and ensuring all the projects

are deployed as per timelines

  • Scheduling frequent calls with vendor and track development status
  • Provide inputs to Channels for payout simulations for new schemes
  • Helping sales strategy team for required calculations for

implementation and feasibility of new schemes

  • BRD Preparation for any modifications in payout schemes

Manage Partner escalations/queries and timely input for salary and

incentive

  • Manage assist portal for partners responding timely to queries around

Payout and hierarchy

  • Liaison with support teams to ensure queries relating to MIS, R&R,

Persistency, Commission, etc are responded to

  • Maintaining and reconciling hierarchy of partners
  • Salary and incentive calculation, validation, audit
  • Ensure accuracy, TAT and timelines for the payout

Handling audits like IRDAI audits, Internal audits, statutory audits

  • Liaison with accounts team for provisions, coordinating with channel

team for budgets

  • Liaison with HR team for TDS, hold cases, FnF, recovery and others

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