Vice President - HR Incentive

OBJECTIVE OF THE ROLE

The role holder will be responsible for designing, implementing, and managing sales incentive programs that drive performance, align with business goals, and comply with regulatory standards. This role requires close collaboration with the sales leadership, HR business partners, finance, and compliance teams to ensure incentive structures are motivating, competitive, and cost-effective.

HOW Will YOU CONTRIBUTE TO THIS ROLE

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

MUST HAVE

Education:

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
• Collaboration & Influence
• Attention to Detail & Process Orientation
• Change Management
• Communication & Presentation Skills

Level

Expert or Intermediate or Beginner: Expert