Head of Compensation and Incentive, Bangkok, Thailand

Executive recruitment company Monroe Consulting is recruiting on behalf of international life assurance company in Bangkok. This company offers life insurance services with financial, investment, and life insurance products.

This role involves overseeing sales commission accuracy, communicating compensation plans, analysing performance metrics, collaborating on incentive programs, evaluating effectiveness, and partnering for accurate budgeting.

Job Responsibilities

  • Oversee accuracy and timeliness of sales commission reports for all distribution channels, with a focus on managing the agency channel.
  • Communicate compensation plans effectively to agents and agency leaders, clarifying performance impacts on earnings.
  • Monitor performance metrics and analyse compensation effectiveness for improvement.
  • Ensure compliance of compensation programs with regulatory requirements and industry standards.
  • Collaborate with sales and marketing teams to develop and implement sales incentive programs to motivate agents and drive sales.
  • Evaluate incentive program effectiveness and recommend enhancements or adjustments.
  • Partner with finance and agency quality control teams for accurate reporting and budgeting of compensation expenses

Job Requirements

  • Extensive experience in compensation administration and management within life insurance or financial services industry.
  • Strong understanding of sales compensation principles, including commission structures, bonus plans, and performance metrics.
  • Knowledge of insurance products, distribution channels, and regulatory requirements.