Prudential’s 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 people’s 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 end‑to‑end 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 compensation‑related 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 long‑term incentive schemes
- Recurring and deferred financial arrangements
- Provide subject‑matter support to Finance Compensation Operations for compensation‑related queries.
- Provide support of end‑to‑end 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 self‑billing for GST‑registered agents
5. Projects, Enhancements & Change Management
- Support and participate in Distribution Compensation projects, enhancements, and initiatives.
- Perform UAT for compensation‑related system changes.
- Prepare Business Requirements and user stories in collaboration with stakeholders.
- Troubleshoot production issues, support fixes, and ensure BAU continuity.
- Support company‑wide 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 fast‑paced, deadline‑driven environment
- Able to manage ambiguity and multiple priorities independently
- Strong problem‑solving 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.