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 setting.

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

Job Description:

JOB SUMMARY:

Ü Managing Distribution compensation including commission payment process, Reward reconciliation and payments

Ü Finalisation and Closure of month end provisions

Ü Commission & Rewards Regulatory and Management Reporting

Ü Distribution Commission Setup Management

Ü Commission & Reward Financial Schedule Preparation

Ü Automation of Distribution Premium & Payout Reporting

Key Responsibilities

Ü Commission and Reward calculation, validation, disbursement and Provisions

o Review and validate various data points, performance metrics and eligibility criteria of Rewards

o Calculations basis predefined reward structure/ agreements

o Maintain accurate and updated records of all metrics and transactions

o Process commission payments with adequate controls within designated pay cycle, adhering company policies and timelines

o Monitor Commission Payment Cycle, Commission Rates at channel and product level

Ü Commission & Reward reconciliation and settlement

o Reconcile account balances of commission payable, Agent Disbursement Account, Write Off/Write Back account,



ensuring that all transactions are correctly recorded and discrepancies are resolved promptly

o Communicate with stakeholders on commission not calculated and timely set-up of rates

o Address inquiries related to commission from field and collaboration with internal teams to obtain necessary information

o Ensure compliance with regulatory requirements and internal policies governing commission & rewards

o Prepare and maintain documentation related to commission, rewards and other relevant records

o Work with relevant stakeholders to find amicable solutions and maintain positive relationships with all the stakeholders

o Stay informed about industry trends and best practices

o Preparation & Submission of regulatory submissions including IRDA Annual Submission/Ad hoc submission etc.

Ü Distribution Commission Setup Management

o Ensure and Validate commission setup at defined interval for accurate and timely identification of gaps.

o Ensure timely validation of commission not setup in system and ensure adequate provisions are booked in books of account.

o Ensure accurate and timely preparation of all the distribution related payouts post TDS deduction.

o Timely closure of month-end related activities including GST recon.

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 Ensure proper validation of all regulatory reporting related to premium, commission, reward and any other payouts.

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

State:

Home Office

Branch:

Gurugram HO

Department:

Finance

Function:

Finance - Distribution Compensation

Posted On:

27-Jul-2026

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