Agency Benefits Executive at Great Eastern Life Assurance Co Ltd

Singapore, , Singapore -

Full Time

Start Date

Immediate

Expiry Date

06 Sep, 26

Salary

0.0

Posted On

08 Jun, 26

Experience

0 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Commission Processing, User Acceptance Testing, Data Analytics, VBA, Tableau, MS Excel, MS Word, MS PowerPoint, Process Improvement, Regulatory Compliance, Risk Management, Reconciliation, SOP Review, Interpersonal Communication

Industry

Insurance

Description

Job Purpose We are looking for a motivated and responsible individual to join our Commission & Benefits team which is within Agency & FA Operations Department (AFO). You will be part of the team responsible for handling the commission & benefits of our various distribution channels. The Job Commission & Incentives: Process the monthly and yearly commission & incentives disbursement to the various distribution partners in an accurate and timely fashion. Perform due diligence check and reconciliation to ensure that commissions and payments are accurate. New Product Setup: Setup the commission rates of new product launches in accordance to the product specifications. Perform User-Acceptance Testing (“UAT”) to ensure accuracy in the commission rates setup. Develop reports to fulfil the distributors or internal stakeholders’ needs. System Enhancement & UAT: Work closely with IT and collaborate with cross-functional teams on system requirements gathering and the user acceptance testing for process enhancements Reviewing of SOPs & Guidelines: Conduct regular review of the detailed Standard Operating Procedures (“SOPs”), process flowchart and relevant guidelines to ensure they remain relevant, effective and compliant to the rules & regulations. Process Improvement: Review and analyze the current business processes to identify inefficiencies, appropriate internal control and areas for improvement. Regulatory & Risk Management: Maintains awareness of industry trends on regulatory compliance, emerging threats and technologies to safeguard the company. Takes accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks. Highlights any potential concerns or risks and proactively shares best risk management practices. Data Analytic & Reporting: Support on reporting & data analytics of the various distribution channels (such as sales performance, compensation, lifecycle movement, etc). Qualification – Diploma or Degree holder Preferably with 1 year work experience. Good knowledge in MS Office Applications (Excel, Word & Powerpoint), preferably with experience in VBA and knowledge of analytical tools such as Tableau Good interpersonal and communication skills A self-starter who is keen to learn, takes initiative to improve current state of things and positive work attitude over teamwork

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Responsibilities

Responsible for processing monthly and yearly commissions and incentives for distribution partners while ensuring accuracy through due diligence and reconciliation. The role also involves setting up new product commission rates, conducting UAT for system enhancements, and reviewing SOPs for regulatory compliance.