Executive – Distribution Compensation

Posted Date: 01/03/2019
Closing Date: 31/05/2019


i. Distribution Compensations Task
  • To support the commissions processing for the various distributions partners models, and ensure it is fully verified per the compliance/regulations guidelines/acts where applicable before payment and its scheduled payment process.
  • To support the various distributions partners benefits payments processing, timely, compliant and accurately per Regulations. i.e. production bonus, persistency bonus, sales incentive before payment.
  • Ensure all payment reporting are up to date and filed accordingly for audit trail checking.
  • Responsible to provide Accounting information that are required as per the accounting standards, verifications to its Sub Ledger and prepare a reconciliations to ensure all are properly recorded and comply to GL. Ensure timely recording of the accounting and identified All unpaid agents (SL).
ii. Other Journal Voucher (JV) /  Payment Voucher Entries
  • To verify and ensure all memo request are according to rules and guidelines stipulated and ensuring they are duly approved by the responsible person before performing journal entry.
  • Ensure timely processing of all memo request related to adjustment to the Agents (SL) account and ensure all instructions / memo are duly approved by the responsible person. To communicate and follow up on the status of the processing.
  • Ensure terminated agent / ad hoc payment request are PV out prior to payment request as per unpaid agents (SL).
iii. Policy Commission administration process
  • Ensure the timely processing of Replacement of Policy (ROP), IL Waiver of Premium (WOP) & Policy Acknowledgement Slip (PAS) matters related to ALL channels.  i.e. Cessation / Reactivation of commission due to ROP/WOP/PAS.
  • Compute the commission claw back/pay back as deem necessary for JV approval and to communicate and follow up with agent/branch staff on ROP/WOP/PAS matter. Ensure all document request and reports are filed accordingly for audit trail checking.
iv. Department administration and payment report filing
  • Ensure all payment files and documents (Both hardcopy & soft copy) are organized and well-kept and assist in retrieving payment records.
  • Modify and improve filing systems, or implement new filing systems. Perform periodic inspections of materials or files in order to ensure correct placement, legibility, and proper condition.
  • Eliminate outdated or unnecessary materials, destroying them or transferring them to inactive storage according to file maintenance guidelines and/or legal requirements
v. System enhancement / Defect rectification
  • To support the preparation and review of the development of comprehensive Distribution Compensation SOPP as and when required.
  • To fully support and participate in UAT with robust and comprehensive test scenario to mitigate and incorporating existing operational deficiency. Ensure all finance functions are fully tested, performed timely, without compromising risk and deliver of system deployment, in relations to core systems. Able to foresee and articulate risk embedded and issues related to UAT or product to supervisor, if any.
vi. Disaster Recovery Plan (DRP) & Business Continuity Plan
  • To support and participate in the Disaster Recovery Plan (DRP) & Business Continuity Plan process / activity, preparing robust and comprehensive testing scenarios in commissions processing, specifying its risk and mitigations plans to meets the compliance or regulated guidelines as and when required.


  • Candidate must possess a minimum of Diploma in, Economics, Finance, Accountancy, Banking, Business Studies, Commerce or any related field.
  • At least 1 year(s) of working experience in Payment Processing and UAT testing in Insurance or Banking industry is required for this position.
  • Proficient in Excel - able to create new spreadsheet to address a certain problem or show data in a meaningful way.
  • Good problem solving skills.
  • A team player, willing to learn and strong dedication to work.
  • Enjoy working with numbers.
How to apply

Please email your latest résumé along with your expected salary to: