Deputy Manager (Commission)

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Star Union Dai ichi Life Insurance Company Limited
Navi Mumbai - Vashi
30,000 - 45,000
/Monthly
Requirements
3 - 5 years experience
Graduation
24 - 35 years
No gender preference
Marksheets and Degree
Joining and Relieving Letters
Aadhar Card
Timings
Working Days
5 days/week
Morning Shift
9:00am - 6:00pm

Job Description

Internal:

 Commission calculation and payments for Bancassurance/Group/PMJJBY/Agency/Brokers channel. Ensure

timely commission payments to all channel partners.

 TDS calculation on commission for Bancassurance/Group/PMJJBY/Agency/Brokers

 Commission MIS to Channel Partners and SUD Life Sales team

 GST Payment to channel partners

 Quarterly Write Back & Write Off for Agency Channel

 Providing calculations to Finance Department for quarterly Accounts Closing.

 Query handling and resolution related to commission/admin fees pay-out.

 Coordinating with CMS Team, IT, Finance & Partnership Development/Other Sales Department related to

commission reconciliation.

 Preparations of office notes/scheme circulars and necessary approvals

 Automation of Commission Calculation/Generating automated reports/MIS’s as required

 Process designing, SOP creation/modification

 Coordination with channel partners related to receipt of commission and GST payout


Audit/Compliance:

 Preparation and submission of Monthly Life Insurance Council (LIC) updating

 Monthly Publishing updated details of Individual Agents/ Corporate Agents on Company website & updation

in LCMS.

 Monthly Advisor suspension/termination due to Minimum business guarantee. Communication letter to them

 Monthly recovery of commission of agent. Communication letters to advisors on recovery

 Quarterly commission report for agents on miss-selling complaints

 Preparation and submission of

 Quarterly and Yearly BAP – Life Operations Report

 Half yearly and Yearly return in respect of POS Life Products business

 Schedule VI A yearly for Corporate Agency and status updation on LCMS

 To ensure proper and timely compliance with Auditors as well as Regulators.

 Attending Internal Auditors and Statutory Auditors in conducting of smooth audit and giving compliance on the

queries in the Audit report and ensure compliance.

 Provide MIS related Commission required by Banks, Finance and Accounts for preparation of various

financial statements, IRDAI statements etc.


Technical Competencies :

Domain expertise and industry knowledge

 Strong Statistical, Mathematical and Quantitative skills

 Data analytics/ complex data analysis/ Dashboards/MIS

 Strong Skills on Advanced Excel/PPT, especially Macros, SQL, model designing

 Knowledge of Life-Asia (must) and Group-Asia will be an added advantage


*Preferred Work Experience: Min 4-5 years in handling commission pay-outs

Additional requirements
Language
English
Previous Experience
Other,
Banking / Financial Services / Insurance
Skills
MS SQL
Advanced Excel
Other Requirements
- *Preferred Work Experience: Min 4-5 years in handling commission pay-outs
- Preferably MBA/PGDM/PGDBM
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