Kotak Life Insurance—Manager - Incentive Calculation - Mumbai (Goregaon East)

Job description

Description: Role: Incentive Calculation Manager Title: Manager / Senior Manager Experience: 5 years + Education: Graduate / Post Graduate Location: Goregaon East, Mumbai Ensuring timely and accurate payout: - - Validating the data in terms of completeness and correctness - Ensuring the payout is shared as per agreed timelines - Getting end to end payout processed in coordination with Finance and distribution team Risk identification and control monitoring for incentive calculated by system - - Verification of scheme calculation performed by Vendor is correct - Identification of the major risk involved in process and mitigating the risk by implementing controls - Ensuring Timely checks of various schemes and identification of process gaps - Ensure accuracy, TAT and timelines for the payout are adhered to 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 Provision and budget management - - Liaison with accounts team for provisions, coordinating with channel team for budgets - Liaison with HR team for TDS, hold cases, FnF, recovery and others - Ensuring provision matched with details of HR, Distribution channel and accounts 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