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

Job Description:

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 quick paced environment

State:

Home Office

Branch:

Gurugram HO

Department:

Finance

Function:

Finance - Distribution Compensation

Posted On:

29-Jul-2026

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