Job Description

The specialised role is responsible for (1) reviewing compensation calculation; (2) establishing and overseeing the governance framework, SOPs, and controls for agency debt collection and distribution compensation within Finance Operations. This role acts as a control function (second line within Finance Operation), ensuring payroll calculations for agency and broker channels are accurate, and processes executed by Agency Administration are accurate, compliant, and consistently applied, including the review and approval of settlement plans. The role is to ensure that decisions on collections, settlements, and compensation are aligned with financial reporting, integrity, risk appetite, and cash-flow objectives.

Key Responsibilities:

Agency Debt Collection Governance (Checker Role)

• Own and maintain finance operations SOPs, policies, and controls for agency debt collection

• Review and challenge aging reports, high-risk accounts and actions proposed by Agency Administration, ensuring policy compliance and correct financial treatment

• Perform targeted checks on accounts and transactions to confirm execution, documentation and GL alignmentProvide insights and recommendations to strengthen credit control and bad-debt prevention

Distribution Compensation Governance & Oversight

• Lead end to end SOPs and control design for distribution compensation within Finance Operation

• Act as checker for compensation runs, exceptions, and manual adjustments, ensuring maker/checker, reconciliations and GL consistency

• Coordinate to support the new compensation system go-live Q4 2026 (full transition by early 2027), embedding controls, reports, and Finance-led processes

Settlement Framework & Policy Oversight

• Define and maintain a standard settlement framework (criteria, approval limits, discounts/waivers, repayment terms) aligned with Finance policies and risk appetite

• Review and approve settlement and repayment proposals, ensuring sound financial impact assessment (P&L, provisions, write-offs, cash)

• Monitor settlement outcome and trends (recoveries, write-offs, repeat delinquencies) and recommend policy or process refinements

Controls, Governance & Stakeholder Management

• Ensure all processes meet internal control, audit, and regulatory requirements

• Keep process maps, SOPs, and control matrices current

• Lead or support control self-assessments, remediation actions and audit requests relating to agency debt and compensation

• Act as the Finance Operation counterpart to Agency Administration and other stakeholders, ensuring operations align with Finance’s control framework and Finance-led operating model

• Bachelor's degree in Finance, Accounting, Business or related discipline

• Over 6 years of experience in finance operations, control, commission/compensation operations or similar roles in insurance industry

• Demonstrated experience in governance, internal controls and SOP design, ideally a maker/checker environment

• Experience working with agency/distribution channel and commission or incentive systems is highly preferred