Distribution Compensation Specialist

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Reporting to the Head of DCA, the Distribution Compensation Specialist will assist in the review and performance of business cases, compensation and tracking of incentive spent.

The role partners closely with Agency Distribution, Partnership Distribution and Customer Team to design, cost and holistically evaluate the effectiveness of all incentives and distribution compensation.

Job Description:

Compensation and Incentive Schemes

Work with Agency Distribution /Partnerships Distribution/Customer to design, review and recommend changes to Agency Distribution/Partnerships Distribution compensation and incentives to achieve business objectives and ensure financial supportability

Obtain relevant approval for compensation changes in compliance with governance

Ensure performance is monitored relative to business case and support in providing senior management with regular updates. Where necessary, recommend changes to management together with distribution

Perform post implementation review on approved business cases

Agency Recruitment Schemes

Support agency recruitment by developing the effective means to achieving recruitment targets and objectives .

Review the effectiveness of various recruitment schemes and work with Agency Recruitment to implement further improvements

Business Strategies and Special Projects

Review and support the implementation of Distribution Strategies, especially from product and compensation analytics perspective.

Understand the impact and implication of such initiatives and provide coordination within Finance and Actuarial where appropriate

Build DCA knowledge of the organization, processes and customers

Agency Appeals

Manage Agency appeals, carrying out an assessment of reasonableness, business needs and financial costs, while ensuring timely resolution and adherence to governance standards.

Who we are looking for:

Competencies & Personal Traits

Good technical financial knowledge

Good understanding of insurance industry issues and trends

Detailed and Meticulous

Strong analytics skills

Ability to work autonomously

Good communication skills

Business acumen

Inquisitive and ability to think out of the box and look beyond existing solutions and own area to define/resolve issues

Working Experience

At least 7 years of relevant experience in finance or actuarial roles or positions

Agency experience is a plus

Education

Degree in Actuarial or Finance

Language

English

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.