Job description

JOB RESPONSIBILITIES:

• Ensure calculation of commission as per F&U rates and the IRDA regulations.
• Vet KPI incentives, other pay-outs
• Ensure commission has been booked and accounted correctly as per accounting standards and policies.
• Ensure reconciliation of the balances as per policy admin system with the financial accounting software – Oracle
• Ensure timely submission of regulatory reports relating to commission with the IRDA.
• Share monthly party level TDS liability on commission with TAX Team for liability discharge to the tax authorities.
• Ensure Commission queries received from multiple stakeholders are resolved within the approved TAT.
• Liaison with the auditors for resolution of audit queries
• Ensure the UAT/ enhancements are carried out within the agreed timelines.
• Ensure Commission payments are processed on timely basis and within approved TATs.
•  Work towards strengthening the controls over the commission pay-out process
• Work with various functions for process improvements

KEY PERFORMANCE INDICATORS:-

QUALITATIVE 

• Ability to organize and prioritize.
• Ability to place better controls and well verse with the regulations.
• Ability to maintain TAT’s consistently.

QUANTITATIVE

• Capable of a rigorous analytical approach and result oriented.
• Perseverance in the analysis of issues.

COMPETENCIES

• Expertise in regulations and guidelines of accounting and payouts
• Expertise in control functions
• Expertise in reconciliation
• Expertise in volume management