Assistant Manager, Agency Compensation

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Agency compensation & benefits is a key department within the Agency division, providing services to key stakeholders with day-to-day interactions. The department provides the backbone upon which payment and collection services are provided to agents. The role requires:

- Various interactions with internal/external parties to the Company are expected, including Distribution teams, Agency force, Finance, Actuarial, IT and Legal/Compliance
- Interpret agency requests on compensation and benefits, assess requirements, identify/develop possible solutions and solves a range of problems
- Explains information in clear and concise manner
- Applies best practices and knowledge of internal/external business issues to improve existing processes

Roles & Responsibilities:
- Develop and implement key controls in commission cycle.- Develop good operational procedures for commission/compensation management including standard operating procedures.- Strong and solid understanding of Agency compensation & benefits business rules, Agency hierarchy in terms of commission payment and Agency Financing Scheme.- Strong and solid understanding on the regulatory guidelines in terms of commission and the corresponding impact to reporting - such as Balance Score Card for Agency.- Demonstrate ability to test and execute Agency commission related new initiatives/projects.- Prepare user requirements and design test case scenarios on new projects/enhancement projects on the Distribution Channels Management Systems, and supporting role for projects/enhancement with greater complexity.- Provide support to agents, as and when needed, in areas of commission, and liaise with Leaders/agents on compensation enquiries/complaints.- Ensure completeness and accuracy of all commission and bonus to agents every payment cycle.- Perform Financing Scheme qualification validation, financing scheme statement, commission recovery and related internal reporting and commission recovery.- Perform Balance Scorecard Reporting to BNM and MTA.- Ability to resolve problems arise on Agency compensation related matters as and when arise.- To follow-up all IT incident reported (agent commission related) and day 2 items.- Develop good operational procedures for regulatory reporting requirements.- Ensure regulatory guidelines in terms of compensation and benefits management are adhered to- Develop analytics on agency compensation and benefits, providing the basis for key management decisions.- Provide key support and line-of-sight to head of sections across the Company in terms of agency compensation.- Support the interaction with multiple stakeholders across the organization to ensure the commission analytics are fully understood.- Help establish and/or maintain risk management practices within the Agency compensation, in line with the various risk and compliance guidelines.- Actively manage processes to ensure adherence with regulatory guidelines.

Job Requirements:
- Minimum degree level, preferably in Accounting & Finance or Economics, Business Information.-
- Proficiency in MS Excel, Words, PowerPoint.- Data analytics using tools such as Power BI and Alteryx.-
- Articulate and proficient in written and spoken English.- Has great presentation and communication skills to articular clearly and accurately messages across diverse group of audience will be an advantage.- Capable to solve moderately complex problems and have new perspective on existing solutions.