Role & responsibilities:
Commission Accounting & Financial Close
• Lead monthly, quarterly, and annual closing activities relating to commission expenses.
• Ensure timely and accurate accrual, provisioning, reconciliation, and reporting of commissions across channels and business segments.
• Review commission payouts and validate accounting entries in line with company policies and accounting standards.
• Partner with operations and business teams to ensure completeness and accuracy of commission-related data.
Management Reporting & Business Dashboard
• Prepare and publish monthly management dashboards covering:
• Segment-wise commission ratios
• Product-wise commission trends
• Channel-wise commission analysis
• Budget vs Actual performance
• Profitability and expense trends
• Develop insightful MIS reports highlighting key performance indicators and emerging trends.
• Present monthly performance analysis to senior management with recommendations and action areas.
Commission Analytics & Cost Management
• Analyze commission spending patterns across products, channels, intermediaries, and business segments.
• Identify prospects for commission optimization while supporting business growth objectives.
• Monitor commission efficiency metrics and recommend corrective actions.
• Conduct variance analysis and root-cause investigations for significant deviations from budget or expected trends.
Regulatory Compliance & Governance
• Monitor compliance with applicable IRDAI regulations and commission expenditure limits.
• Establish controls to ensure actual commission spends remain within regulatory and approved internal limits.
• Highlight compliance risks and work with stakeholders to implement corrective actions.
• Support regulatory reporting requirements relating to commission expenses and distribution costs.
• Maintain documentation and audit readiness for internal and external reviews.
Financial Planning & Analysis (FP&A;)