Distribution Finance Manager

A leading financial services group is seeking an analytical Distribution Finance Manager to join its Finance and Accounts department. In this critical role, you will implement the governance framework for distribution finance and operationalize key service level agreements (SLAs). Furthermore, you will monitor the payout of commissions to active agents and intermediaries within IRDAI prescribed limits. Consequently, this position is vital for maintaining financial integrity and regulatory compliance across all distribution channels.

The Distribution Finance Manager must maintain a lifecycle tracker of existing and new relationships while keeping a close track of all budget lines. Additionally, you will provide bespoke solutions to channel partners and coordinate with cross-functional departments to ensure smooth workflows. Therefore, the company is looking for a graduate or postgraduate with 5 to 10 years of experience. If you have strong proficiency in Excel and budget planning, this Distribution Finance Manager role offers a premier career path.

Key Responsibilities for the Distribution Finance Manager

• Monitor the daily execution and payout of commissions to agents and intermediaries with zero errors.
• Exercise strict budgetary control across various distribution channels to align with Finance records.
• Filing of mandatory reports to IRDAI to ensure all commission payouts stay within prescribed limits.
• Maintain a comprehensive lifecycle tracker for both existing and newly acquired business relationships.
• Facilitate vendor and activity management, including the processing of agreements and payments.
• Perform regular reconciliations with channel partners and Key Account Managers (KAMs) to ensure data accuracy.
• Administer defined SLAs across all processes to ensure timely execution of support initiatives.
• Collaborate with Sales and Strategy teams to validate Reward and Recognition (RnR) schemes.
• Manage and resolve queries from agents or intermediaries within a strict 24-hour turnaround time.
• Ensure 100% validation of calculations to achieve zero variance in financial reporting and processing.

Requirements and Qualifications

• Graduate or Post Graduate degree in Finance, Commerce, or a related field.
• Minimum of 5 to 10 years of relevant professional experience in distribution finance or commission operations.
• Advanced proficiency in Microsoft Excel for complex data analysis and financial modeling.
• In-depth knowledge of cross-functional processes involving Compliance, Legal, Audit, and Operations.
• Proven expertise in budget planning, cost management, and financial reconciliation.
• Strong understanding of IRDAI regulations concerning intermediary commissions and payouts.

Key Performance Indicators (KPIs)

• Achieve 100% accuracy in calculation validation and reconciliation with zero variance.
• Ensure all departmental and distribution costs remain within 95% of the approved budget.
• Maintain a 100% success rate for commission payouts being credited on or before the due date.
• Resolve at least 95% of agent or intermediary queries within a single business day.
• Keep vendor payment processing within established turnaround times at a 90% efficiency rate.

If you are a finance professional ready to drive the Distribution Finance Manager function for a premier group, we encourage you to apply today!