About Axis Max Life

Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a joint venture between Max Financial Services Limited (“MFSL”) and Axis Bank Limited.

Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery, and a well-trained human capital.

Axis Max Life has been consistently ranked among the best workplaces by the GPTW Institute, reflecting its commitment to creating a positive and empowering work environment.

#ComeAsYouAre LGBTQIA and PwD candidates of all ages are encouraged to apply

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Position

Chief Manager – Finance (Distribution Compensation)

No. of Positions

1

Department

Finance Function

Reporting to

VP – Finance Band 4B

Location

HO Last date of submission Till the vacancy get filled

JOB SUMMARY:

Ü Managing Distribution compensation comprises retail commission process, Reward Management, GST Expense on Commission and Reward

Ü Finalisation and Closure of month end provisions related to commission expense, GST, Rewards and other distributor payouts

Ü Regulatory Reporting

Ü Automation of Distribution compensation process

Key Responsibilities

Ü Commission and Reward calculation, validation, disbursement and Provisions o Review and validate various data points, performance metrics and eligibility criteria o Calculations basis predefined reward structure/ agreements o Maintain accurate and updated records of all metrics and transactions o Process commission payments within designated pay cycle, adhering company policies and timelines o Monitor through variance analysis o Preparation and presenting Key insights on the monthly commission, reward and other payments o Accurate & Timely submission of all regulatory submission.

Smooth





Implementation of any new IRDAI regulation o Ensure adherence to Board Approved Policy on Commission

Ü Enabling Business & Growth o Focus on robust implementation of new schemes o Continuous focus on reduction of turn around time o Monthly connect with Business teams on critical Business requirements solutions

Ü Compliance, Regulations and Audit o Ensure compliance with financial regulations and internal control procedures o Ensure proper documentation and control, Review financial transactions, invoices and expenses to ensure accuracy and compliance o Handling Statutory and Internal Audits

Ü Risk Management o Monitor and assess the financial risks associated the process and implement risk mitigation strategies to minimize potential financial exposure

Measure of Success:

Ü Timely and accurate payouts

Ü Correctness of all related transactions

Ü No High aging items in related schedules

Ü Continuous improvements in processes and turnaround times

Ü Level of New Automation in the process

Ü Audit Ratings

Ü Supervisor Feedback

Desired Qualification and Experience

MINIMUM EDUCATION AND EXPERIENCE:

Ü Post Graduate in commerce and/or MBA with minimum 10-15 years of experience

KNOWLEDGE/SKILLS/ABILITIES:

o Sound knowledge of Accounting preferably in insurance sector o Proficiency in MS-Excel, Access for complex calculations o Experience in commission and process automation or a similar role o Knowledge of sales processes and commission structure in insurance industry o Knowledge of reinsurance concepts, contracts and settlement processes o Knowledge of regulatory requirements and accounting principles related to commission and reinsurance o Strong analytical, mathematical and problem solving skills with attention to detail o Excellent communication and interpersonal skills to interact with internal and external stakeholders o Organizational and time management skills to meet deadlines o Ability to work independently and as a part of a team in a fast paced setting

State: Home Office

Branch: Gurugram HO

Department: Finance

Function: Finance - Distribution Compensation

Posted On: 29-Jul-2026

📌 Chief Manager - Distribution Compensation (India)
🏢 AxisMaxlife
📍 India