An opportunity to join Manulife’s Asia Regional Distribution team, playing a critical role in leading Manulife Asia’s Distributor Compensation function, covering all channels (Agency, Bancassurance, Broker). This is an exciting opportunity to shape the future of Manulife Asia’s distribution – ensuring that distributor compensation is aligned with short- to long-term strategic priorities. This role is not simply about ensuring that best-in-class distributor compensation practices are in place – it is about ensuring that distributor compensation enables sustainable and quality business growth. As part of Manulife Asia’s Regional Distribution function, there is large scope for impact and professional growth!
Position Responsibilities:
Lead Manulife Asia’s Distributor Compensation function, covering 10 markets and all channels (Agency, Banca, Broker and Direct Sales etc.)
Review compensation design changes proposed by market teams, validate the financial/ risk assessment and validate the assumptions and calculation logic – thereby guiding market teams to sharpen their approach
Lead strategic compensation reviews with the objective of aligning compensation practices to business strategies, and assist markets to formulate comp solutions on the ground
Be the SME for topics related to compensation/ financing/ campaign strategy and governance, provide trainings to market teams on the process and proposal requirements
Regularly update the playbook/ guidelines on governance scope, comp design principles and best practices across Asia
Interface with colleagues in Risk and Compliance to ensure adequate and appropriate safeguards are incorporated into compensation design
Conduct annual review of compensation across the region to identify any gaps on market comp payout structure/ sales quality control measures
Initiate changes to sales staff incentive plans for driving the desired business outcomes and ensure KPIs and targets are set appropriately
Evaluate risk exposure on a frequent basis to ensure proactive actions are taken where risk tolerances are exceeded
Prepare and manage regular compensation governance meetings
Required Qualifications:
Strong experience in Insurance Distributor Compensation – with ability to understand economic construct, financial viability, the various risks and corresponding mitigating solutions
High Intellectual Curiosity: Have an insatiable curiosity to learn and a proactive approach to leaning in on new opportunities, even those outside their comfort zone.
Risk Management: Ability to think ahead and anticipate problems before they arise
Strategic Agility: Sees ahead clearly and can anticipate future consequences and trends accurately; can articulately paint credible pictures and visions of possibilities and likelihoods
Results Orientation: Delivers beyond expectations and sets new and stretching goals for him/herself. S/he will have a deep understanding of operational and process improvements that impact quality and execution and deliver continuous improvement
Process Management: Can identify and articulate the processes necessary to get things done efficiently and effectively
Organizational Savvy: Able to build constructive and effective relationships and use them to maneuver through complex situations
Influencing & Negotiation: Can present ideas and directions that lead others to action
An articulate and top-down communicator
Nice to Haves:
Prior experience in Insurance Distribution
Experience within a Finance, or Risk and Control function
When you join our team:
We’ll empower you to learn and grow the career you want.
We’ll recognize and support you in a flexible environment where well-being and inclusion are more than just words.
As part of our global team, we’ll support you in shaping the future you want to see.
About Manulife and John Hancock
Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. To learn more about us, visit https://www.manulife.com/en/about/our-story.html.
Manulife is an Equal Opportunity Employer
At Manulife/John Hancock, we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.
It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact [email protected].
Working Arrangement
Hybrid
