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 alignment Provide 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
Job details are sourced from the employer's original posting.
Open job postingAbout the company
Vipond Fire Protection, part of Chubb Fire & Security, now has an opportunity for a Sprinkler Design Engineer for a remote opportunity. Following recent business wins were keen to add to our Engineering team to manage fire protection systems locally to Bruntwood. This role can be office based, hybrid or remote depending on circumstances.