Commissions Analyst

Sanlam Limited; South Africa; Remote; ZAR 600,000 - 1,000,000; Full time

Job summary

MiWay’s Actuarial department seeks a detail-oriented analyst to centralise internal commission payments and optimise incentive structures. You will design, maintain, and forecast commission models, analyse remuneration data, and produce regular staff remuneration insights to drive cost efficiency.

The role requires a Bachelor's degree in Actuarial Science or related field, plus 2 years in a related area, and hands-on experience with SQL Server, Oracle, Python or R.

Qualifications

• Bachelor's degree in Actuarial Science or related field.
• 2 years in a related field.
• Experience designing and maintaining call centre commission structures.

Responsibilities

• Actuarial Analysis and Insights: Analyze and present data using predetermined tools, methods, and formats, testing completed work for reasonableness and accuracy, to contribute to actuarial analyses and insights.
• Actuarial Financial Reporting: Carry out complex actuarial analyses to contribute to the production of statutory and non-statutory financial reports and other disclosures.
• Actuarial Product Development: Carry out complex analyses of own organization and competitor products to support opportunities for competitive advantage in existing or new products.
• Regulatory and Compliance Management: Investigate standard incidents using current regulatory and compliance processes, systems, and procedures, and take action to solve immediate compliance issues.
• Organizational Risk Management: Keep track of risk parameters, identifying deviations and reporting to senior colleagues.

Skills

Data analysis

Risk management

Threat assessment

High risk typologies

Analytical software

Financial analysis

Education

Actuarial Science degree

Tools

SQL Server

Oracle

Python

R

Job description

At MiWay, our purpose is to enable people to live their way. We understand that life is not just about \"things\" but the meaning that those things bring to your life. We believe that technology and innovation have infinite possibilities when it's inspired by humans by you.

Therefore, we focus on our clients' needs; finding new ways to simplify their lives and how they do things.

We give them products, services, and solutions that enable them to live and enjoy life on their own terms – in their own way.

Agile values and principles are strongly embedded in our culture, and they are at the core of how we make decisions and how we approach adding value within the company.

Purpose of the Role

Join the Miway Actuarial department where we have started a centralisedfunction which oversees internal commission payments. This is an
exciting opportunity for anyone looking to join us on this journey tooptimise the way we incentivise our commission earning staff members
to achieve optimal results cost-effectively. This opportunity is aimed atindividuals who are comfortable to challenge the status quo and create
and maintain commission structures with a data driven approach.

• Bachelor's degree in Actuarial Science or related field
• 2 Years in a related field
• Experience designing and maintaining call centre commission structures

Deliverables include, but will not be limited to

• Understand the current team dynamics, measures of performance anddrivers of commission payments.
• Analyse remuneration data and enhance current commission structuresto optimize performance and cost efficiency.
• Produce monthly reports on total staff remuneration in relation to valueadd of function to our business.
• Commission forecasting and daily agent and manager reporting views.
• Improve standardisation of commission mechanisms across different business units.
• Automation of commission calculations.
• Quantify and track cost savings from implemented commissionchanges.
• Communicate commission models and insights to non-technicalstakeholders.
• We are looking for a talented individual who possesses a unique blend of skills andqualities to thrive in this dynamic role:
• Learning agility and resourcefulness: The kind of person that says: “Idon’t know how, but I’ll figure it out.” You have the ability and willingness to
  learn from experience and then apply that learning to perform successfullyin new or first-time situations. You often do research to help find quick andclever ways to overcome difficulties.
• Resilience: You are not afraid to experiment with new ideas or solutionsand have the capacity to recover quickly from setbacks.
  Analytical and Critical Thinking: A naturally curious individual whoenjoys delving deep into data, you are adept at analysing complexinformation, identifying patterns, and making data-driven decisions.
• Attention to Detail: You have a keen eye for detail,ensuring accuracy and precision in all your work.
• Programming Skills: Proficiency in programming languages and platforms such as SQL Server, Oracle, Python, or R is required. This skill set will aid in developing and maintaining our tools andmodels.
• Agility and Adaptability: The ability to adapt to changing business needsand priorities is vital. You should be agile and flexible, capable of shifting
  focus in response to evolving business requirements.
• Collaborative and Independent Work Ethic: While you should becapable of working autonomously, demonstrating self-motivation and
  initiative, you must also be an effective team player, able to collaboratewith colleagues and contribute to group projects.
• Communication Skills: Strong verbal and written communication skillsare essential for liaising with various stakeholders, explaining complex
  ideas clearly, and documenting work processes.

Overview of Role Responsibilities (Level 1-13)

Actuarial Analysis and Insights - Level 5 - Application
Analyze and present data using predetermined tools, methods, and formats, testing completed work for reasonableness and accuracy, to contribute to the production of actuarial analyses and insights.

Actuarial Financial Reporting - Level 5 - Application
Carry out complex actuarial analyses to contribute to the production of statutory and non-statutory financial reports and other disclosures.

Actuarial Product Development - Level 5 - Application
Carry out complex analyses of own organization and competitor products to support the identification of opportunities for creating competitive advantage in existing or new products.

Regulatory and Compliance Management - Level 5 - Application
Investigate standard incidents using current regulatory and compliance processes, systems, and procedures, and take action to solve immediate compliance issues. Advise more senior colleagues on more complex problems.

Organizational Risk Management - Level 5 - Application
Keep track of risk parameters, identifying any deviations and reporting them to more senior colleagues. Involves working within established risk management systems.

Required Skills

Data Collection and Analysis - Fully Competent
Works with full competence to determine and analyze trends from data that is collected to assist in compiling reports that will help in decision-making. Typically works without supervision and may provide technical guidance.

Risk Management Techniques - Fully Competent
Works with full competence to identify, assess, prioritize and manage risks. Typically works without supervision and may provide technical guidance.

Threat Assessment - Fully Competent
Works with full competence to identify, analyze, and prioritize potential organizational threats, gather intelligence to evaluate their credibility and potential impact, and use analytical techniques to differentiate real from perceived threats, while proactively monitoring emerging threats and planning for organizational preparedness and resilience. Typically works without supervision and may provide technical guidance.

High Risk Typologies Methodologies - Fully Competent
Works with full competence to identify and analyze patterns in high-risk financial activities and typologies, understanding the financial crimes risks posed by various high-risk activities and instruments such as money services businesses, payments companies, virtual currencies, cash intensive businesses, hedge and private equity funds, foreign correspondence banking, non-operating companies and payroll service companies. Typically works without supervision and may provide technical guidance.

Analytical or scientific software - Fully Competent
Works with full competence to perform advanced data analysis, modeling, and simulation tasks to gain insights, make predictions, or solve complex scientific problems. Typically works without supervision and may provide technical guidance.

Financial analysis - Fully Competent
Works with full competence to examine, interpret, and evaluate financial data to provide insights into an organization's fiscal health and support informed decision-making. Typically works without supervision and may provide technical guidance.

Manages Complexity

Instils Trust

Ensures Accountability

Communicates Effectively

At MiWay we believe in cultivating a positive and dynamic working environment that gives you freedom and opportunity to succeed. MiWay is committed to transformation and embracing diversity. This is what drives us to achieve a multicultural workplace with employment equity as a key goal to create an inclusive workforce, reflective of the demographics of our society.