Distribution Support Manager

FWD LIFE INSURANCE COMPANY (BERMUDA) LIMITED SINGAPORE BRANCH; Singapore; On-site; SGD 70,000 - 110,000; Full time

Job summary

FWD Life Insurance Company (Bermuda) Limited Singapore Branch is seeking a role to work closely with the distribution team to ensure smooth downstream processes and uphold regulatory governance on business quality from the FA channel.

The ideal candidate will support distribution partners, manage onboarding/offboarding, regulatory checklists, and reporting on commissions and campaigns, while coordinating with IT and internal stakeholders to drive service excellence.

Responsibilities

• Provide distribution support to IFA, high net worth brokers and Bermuda Branch channels.
• On- and off-boarding of distribution partners, including agreements, commission schedules and due diligence.
• Manage agent maintenance: agent code creation/termination, access rights, product tagging and servicing adviser requests.
• Ensure regulatory compliance checklists for IFAs, including annual due diligence on a risk-based basis.
• Communicate new/enhanced product due-diligence launch decks and campaigns memo to distributors.
• Commission and distribution related campaign tracking and payment; generate monthly reports.
• Obtain necessary approvals before sending to internal parties for processing.
• Generate adviser incentive reports and conduct quarterly verification of advisers’ conduct before payments.
• Manage UAT and IT-related matters for the Distribution team; raise IT incidents when needed.
• Represent the department in IT defects meetings and work with IT to propose fixes.
• Perform distribution-related UAT for product launches, enhancements and ad-hoc projects.
• Identify testing areas for product launches and change requests; provide input for test scripts.
• Lead post-internal-audit SOP updates and spearhead implementation of new processes.
• Act as a key contact to liaise with partner firm administrators and address queries.
• Identify gaps and champion SOP improvements to enhance service to customers and advisors.

Job description

PURPOSE

This role will be responsible to work closely withthe distribution team to ensure smooth downstream processes. This role alsoaims to maintain governance on the quality of business from FA channel toensure necessary regulatory requirements.

KEYACCOUNTAIBILITIES

• Providedistribution support to IFA, High Net Worth Broker and Bermuda Branch channel.
• Onand off boarding of distribution partners. Includes preparation of distributionagreement, commission schedule, due diligence of distribution partners.
• o Agent maintenance. Agentcode creation and termination. Set up and maintain distributor access rightswithin agreed Standard Operating Procedure (SOP) including agent code creation,termination, tagging of correct products for distribution and change ofservicing adviser request.
• o Ensure accuracy for allrelevant regulatory compliance checklist relating to IFAs such as annual duediligence on the IFA on a risk-based approach.
• Communication of new/enhance products duediligence launch deck and campaigns memo to distributors
• Commissionand distribution related campaign tracking and payment.
• oGeneratemonthly commission and incentive/campaign tracking report within stipulatedtimeline.
• oEnsurenecessary approvals and clearance are obtained before sending to internalparties for processing.
• o Generate adviserincentive reports and conduct quarterly verification of advisers’ conduct withall partners prior to payment of incentives.
• ManageUAT (User Acceptance Tests) and IT related matters on behalf of Distributionteam.
• o Support BDMs on raisingrequest of IT issues (raising of incident IT tickets).
• o Represent the departmentin regular IT defects meeting and work with IT to propose solutions to rectifythese defects.
• o Perform distributionrelated UAT for product launches, enhancement and ad-hoc projects. (eg:customer portal, eIRIS).
• o Identify areas of testingfor product launches and change requests including provision of inputs for testscript-writing and inclusion of scenarios for testing to minimise potentialrisk outcomes.
• Leadin post internal audit controls, such as creation, deletion and maintenance ofSOPs and spearhead the implementation of new processes.
• Keycontact person to liaise and manage queries from partner firm administrators.
• Identifygaps and champion improvements in the SOP so that FWD can provide superiorservice to customers and advisors compared to other insurers to maximise salesperformance of the distribution team.
• Ensureall necessary distribution operations matters are performed by maintainingconstant communication within the distribution team and external parties whichincludes FA partners.
• Providenecessary feedback, improvements and resolutions, when required, and raise tothe appropriate subject matter experts.
• Supportdistribution team for ad hoc engagement events and client seminars.