Purpose of the Role:

The role is responsible for designing and managing sales incentive schemes and contests for Agency & ABP channel. It involves analyzing performance trends, enabling topline growth, optimizing product mix, and supporting channels through data-driven sales enablers within

allocated budgets. The role requires close coordination with Sales, Products, Finance, and Business Insights teams.

Key Responsibilities:

1. Secondary Compensation & Incentive Design:

1. Design and launch sales programs, incentive schemes, and product credits for assigned channels

2. Identify channel requirements and define structure, parameters, and eligibility criteria for schemes

3. Model incentive schemes and contests, including business projections, cost estimates, and qualifiers

4. Conduct expense analysis and ensure schemes are launched post approvals

5. Drive product mix through defined product credits aligned with management guidance

6. Ensure process adherence and conduct routine self-audits

7. Monitor and control variable budgets; flag deviations or unexpected cost increases

2. Variable Budget & Provisions Management:

1. Manage expense planning, variance reporting, and budget allocation across channels

2. Maintain provision-related documentation and tracking files

3.



Ensure monthly provisioning and expense booking based on inputs from stakeholders

4. Track and maintain variance and expense planning sheets for channels/sub-channels

5. Participate in monthly governance with CFO, Finance, Business Planning, and channel leadership

3. Sales Contest Effectiveness:

1. Analyze performance metrics including incentive earners, contest output, product mix, and activation levels

2. Measure effectiveness of sales enablers by comparing projections vs. actual outcomes

3. Improve participation through effective communication, launch meets, and visibility initiatives

4. Conduct periodic governance reviews with Channel Heads / HODs

5. Run feedback surveys on sales enablers and develop action plans for improvement

4. Projects & Process Improvement:

1. Support functional and strategic projects as assigned by Reporting Manager / HOD

2. Drive automation and simplification of manual processes within scope

Educational Qualifications:

- MBA

Work Experience:

- 4-5 years of experience in the insurance industry
- Experience in analytics-related roles (preferred)

Work Related Skills:

1. Analytical and problem-solving skills

2. Effective verbal and written communication

3. Presentation skills

4. Ability to multitask and manage multiple stakeholders

5. Decision-making ability

📌 Senior Manager - Contest, Secondary Compensation & Incentive Designing (Mumbai)
🏢 HDFC Life
📍 Mumbai