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Kotak Life Insurance - Head / Vice President - Sales Incentive

Kotak Life Insurance - Head / Vice President - Sales Incentive

Kotak Life InsuranceMumbai, India
25 days ago
Job description

Position : Head - Sales Incentive

Designation : Vice President

Grade : L7A

Department : Human Resources

Location : Goregaon East IT Park, Mumbai

1. Sales Incentive Strategy & Design :

  • Develop and execute holistic sales incentive frameworks across multiple distribution channels (agency, bancassurance, direct, digital).
  • Align incentive schemes with organizational goals, revenue targets, persistency, and cross-sell objectives.
  • Ensure all schemes are designed within approved budgets and deliver optimal ROI.
  • Analyze sales trends and performance data to recommend plan modifications and enhancements.
  • Benchmark against industry practices to ensure competitiveness and effectiveness.

2. Incentive Program Governance & Execution :

  • Oversee accurate and timely calculation and disbursal of incentive payouts.
  • Coordinate closely with Sales Support, Payroll, and Finance teams to ensure correct payout processing and accounting treatment.
  • Define governance frameworks to ensure transparency, auditability, and adherence to internal policies and IRDAI guidelines.
  • Manage all audits (internal, concurrent, statutory) for incentive payouts.
  • Identify, manage, and mitigate risks associated with incentive programs

    • 3. Stakeholder Collaboration :

  • Partner with Sales, Finance, HR (Distribution), and Compliance to co-create and validate incentive designs.
  • Provide senior sales leaders with data-driven insights, program diagnostics, and recommendations.
  • Lead structured communication and training sessions to ensure field sales teams fully understand incentive structures.

    • 4. Performance Analytics & Reporting :

  • Monitor incentive effectiveness, sales productivity, and ROI of incentive spends.
  • Build dashboards and executive reports highlighting incentive impact on business outcomes.
  • Continuously refine incentive programs through data analysis, feedback loops, and scenario planning

    • 5. People & Team Management :

  • Lead, mentor, and develop a team of analysts and incentive specialists.
  • Build advanced team capabilities in data modeling, scenario analysis, automation, and stakeholder management.

    • 6. Tech Automation :

  • Ideate, design, and drive automation of incentive processes for accuracy, scalability, and speed.
  • Ensure timely updates of schemes on incentive management platforms.
  • Partner with technology teams to integrate incentive platforms with sales MIS and payroll systems

    • Education : MBA in HR, Finance, or related discipline from a reputed institute.

    Work experience in years :

  • 10-15 years with strong exposure to sales incentives, compensation strategy, and performance management, preferably in insurance or financial services.
  • Strong understanding of sales operations and incentive levers.
  • Proficient in Excel, analytics tools, and incentive management software.
  • Exceptional analytical, problem-solving, and stakeholder management skills.

    • Skills / experience required :

  • Reports, analytics and MIS
  • Strategic Thinking & Business Acumen
  • Data modeling, analytics, scenario simulations, and incentive automation platforms
  • Strong team management, stakeholder influence, and cross-functional collaboration

    • (ref : iimjobs.com)

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    Sales Life Insurance • Mumbai, India