Finance Compensation Operations and Accounting (1-Year Contract)
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Monthly Salary:
Posted on:
10 hours ago
Vacancies:
1 Vacancy
Job Summary
Prudentials 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 peoples career ambitions. We pledge to make Prudential a place where you can Connect Grow and Succeed.
This role reports to the Distribution Compensation Operations Lead and is accountable for the end to end execution control and governance of Distribution Compensation Operations for PACS. The role ensures that all compensation payouts are accurate complete timely and compliant with internal policies accounting standards and regulatory requirements.The role also plays a key part in driving operational improvements system enhancements and digitalisation initiatives with a strong emphasis on data integrity reconciliation discipline and embedded controls. The incumbent is expected to proactively identify risks inefficiencies and control gaps and to escalate potential issues that may adversely impact financial reporting regulatory compliance or business outcomes.
The role holder is accountable for Distribution Channel Compensation Operations and Accounting reporting to the Lead Finance Compensation. Key expectations include:
- Delivering accurate efficient and timely processing and accounting of all legitimate distribution compensation.
- Ensuring full compliance with company policies statutory requirements regulatory guidelines and accounting standards.
- Maintaining strong reconciliation and control frameworks to prevent misstatements in financial reporting.
- Operating within a complex multi-layered business and system rule environment ensuring alignment between business rules system design and accounting treatment.
- Demonstrating strong risk awareness applying embedded process controls as the first line of defence.
- Proactively identifying escalating and remediating operational financial or regulatory risks that may impact the company.
Key Accountabilities & Responsibilities
1. Distribution Compensation Processing & Accounting
- Own and execute endtoend Distribution Compensation processing and accounting.
- Perform fortnightly and monthly closings to ensure all compensation due is:
- Review and validate distribution channel reports ensuring accuracy and timely dissemination.
- Support customer campaign validation to ensure correct compensation treatment.
2. Financial Close GL & Controls
- Execute General Ledger closing activities including:
- Monthly and yearly provisions
- Amortisation
- Supporting schedules
- Compliance with approved accounting papers and guidelines
- Maintain and apply Distribution Compensation accounting rules across policy and finance systems (e.g. Life Asia Group Asia Datahub and auxiliary systems).
- Prepare and post manual journals for compensationrelated transactions.
- Perform robust reconciliations and maintain audit schedules to ensure completeness and accuracy.
- Actively support internal external regulatory and SOX audits addressing queries and remediation actions.
3. Governance Documentation & Schemes Administration
- Maintain and continuously improve Distribution Compensation SOPs process flows and control documentation.
- Manage and monitor business provisions related to compensation.
- Administer:
- Deferred and longterm incentive schemes
- Recurring and deferred financial arrangements
- Provide subjectmatter support to Finance Compensation Operations for compensationrelated queries.
- Provide support of endtoend compensation processing across the team.
4. Settlement Recovery & Statutory Compliance
- Manage invoice settlement for distribution channels.
- Perform credit control activities including recovery of dues from distribution channels.
- Ensure timely and accurate:
- Filing of Distribution Compensation to IRAS
- Administration of GST selfbilling for GSTregistered agents
5. Projects Enhancements & Change Management
- Support and participate in Distribution Compensation projects enhancements and initiatives.
- Perform UAT for compensationrelated system changes.
- Prepare Business Requirements and user stories in collaboration with stakeholders.
- Troubleshoot production issues support fixes and ensure BAU continuity.
- Support companywide initiatives and transformation programmes impacting Distribution Compensation.
Who We Are Looking For
Competencies & Personal Traits
- Strong ownership mindset with accountability for outcomes
- Collaborative team player with effective stakeholder management skills
- Comfortable operating in a fastpaced deadlinedriven environment
- Able to manage ambiguity and multiple priorities independently
- Strong problemsolving and analytical thinking
- Able to balance process efficiency governance and control
- Proactive in identifying risks and driving continuous improvement
Qualifications & Experience
- Diploma or Degree in Accounting Finance or Business Administration
- Minimum 5 years of experience in Distribution Compensation Finance Operations or related roles
- Strong understanding of financial controls reconciliations and regulatory compliance
- Experience in insurance or complex distribution environments is preferred
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.
Key Skills
About Company
พรูเด็นเชียล ประกันชีวิต (ประเทศไทย) มุ่งมั่นที่จะช่วยให้คุณก้าวหน้าในชีวิต โดยเราให้ความใส่ใจอย่างเต็มที่เพื่อการบริการที่เป็นเลิศแก่คุณ ค้นหาวิธีที่เราจะสามารถช่วยเหลือคุณได้ที่นี่ ... View more
