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 will be responsible for overseeing the design, implementation, and administration of Prudential Group agency compensation programs. This role will play a crucial part in ensuring that our compensation structures are competitive, fair, and aligned with the company's goals.
The role will also be responsible for compensation governance and ensuring compliance with legal and regulatory requirements.
Key Responsibilities :
Compensation Governance :
- Develop, redefine, and enhance Group level Compensation Approval and Governance Process with elements of self-governance, incorporating the concept of "empowerment within a framework" and full approval cases.
- Manage the compensation governance process.
Strategic Compensation :
Conduct annual compensation efficiency analysis.Lead and support strategic compensation revamp in Local Business Units (LBUs).Perform targeted deep dive compensation reviews for the LBU.Execute target-based proactive strategic sprints for key compensation design drives related to : HIP remuneration across cohorts of agency.WMSUM managerial income enhancement.Evergreen financing programs for Professional Agents as part of City Strategy.Other Responsibilities :
Oversee the administration of compensation programs, including salary, bonuses, and incentives.Ensure compliance with legal and regulatory requirements related to our compensation practices.Conduct research and analysis to ensure competitive compensation structures.Develop and maintain compensation policies and procedures.Ensure that compensation programs are aligned with the Group's financial objectives and talent acquisition goals.Monitor and analyze compensation trends and make recommendations for adjustments as needed.Qualifications :
Degree holder of actuarial science, finance or business administrationQualified actuary with deep product pricing and / or design experienceExtensive knowledge of regional insurance distribution gained from Insurers, Banks or Consulting Firms with strong business acumenExpert knowledge of compensation strategy and practicesStrong understanding of legal and regulatory requirements related to compensationExcellent analytical problem-solving skillsStrong communication negotiation skillsAbility to work collaboratively with senior management; sound stakeholder management