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

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

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 Audit Ratings

Ü Supervisor Feedback

Desired Qualification and Experience

MINIMUM EDUCATION AND EXPERIENCE:

Ü Post Graduate in commerce and/or MBA with minimum 8-10 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 Analytical skills o Experience in commission and reinsurance or a similar financial role o Knowledge of sales processes and commission structure in insurance industry o Knowledge of regulatory requirements and accounting principles related to commission 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: 15-Jul-2026

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