Head of Dev. Admin & Agency Commission

Job Description

Title: Head of Dev. Admin & Agency Commission

Company Name: Sunflower Life Insurance Company Ltd.

Vacancy: --

Age: 30 to 45 years

Job Location: Dhaka

Salary: Negotiable

Experience:

• 3 to 7 years
• The applicants should have experience in the following business area(s): Insurance

• Masters

• Master's degree (MBA/M.Com/MSS or equivalent) from a recognized university.

• Candidates with a Business Administration, Management, Finance, Accounting, or Insurance background will receive preference.

• 3 to 7 years
• The applicants should have experience in the following business area(s): Insurance

• Age 30 to 45 years

• Minimum 3–7 years of experience in Development Administration, Branch Administration, or Agency Operations in a Life Insurance Company.

• Experience in Bangladeshi life insurance operations will be considered an advantage.

• Excellent communication and interpersonal skills.

• Strong leadership and team management ability.

• Proficiency in Microsoft Office (Excel, Word, PowerPoint).

• Strong analytical and reporting skills.

• Knowledge of life insurance business operations and regulatory compliance.

• Ability to work under pressure and meet deadlines.

self-motivated, and experienced professionals for the position of Head of Dev. Admin & Agency Commission. The successful candidate will play a vital role in managing development administration, supporting agency operations, and ensuring compliance with company policies and regulatory requirements.

Job Responsibilities:

• Lead and manage the Development Administration and Agency Commission functions of the company.

• Develop, implement, and monitor policies and procedures related to agency administration and commission management.

• Oversee the complete agency commission process, including calculation, validation, approval, processing, and timely payment.

• Ensure accurate and timely processing of first-year, renewal, bonus, incentive, and other applicable agency commissions in accordance with company policies and regulatory requirements.

• Monitor agency force records, appointments, transfers, promotions, terminations, and related administrative activities.

• Coordinate with Business Development, Finance & Accounts, HR, IT, Underwriting, Claims, and other relevant departments.

• Establish effective controls to minimize commission errors, duplicate payments, irregularities, and financial leakages.

• Prepare and analyze periodic reports on agency productivity, commission expenses, incentives, and development administration.

• Support management in designing competitive agency commission, incentive, bonus, and performance-based reward structures.

• Ensure proper documentation and maintenance of agency-related records and databases.

• Monitor compliance with applicable Insurance Development & Regulatory Authority (IDRA) rules, regulations, circulars, and company policies.

• Liaise with internal and external stakeholders, including auditors and regulatory authorities, when required.

• Lead and develop the Development Administration & Agency Commission team.

• Identify opportunities to automate and improve agency administration and commission-processing systems.

• Provide management with analytical reports, recommendations, and business insights for improving agency productivity and cost efficiency.

• Perform any other duties assigned by the management.

• Attractive salary package (Negotiable based on experience and qualifications)

• Other benefits as per company policy