CS Channel Support Specialist
Taguig, PH
4d ago

Bring your career aspirations to life with AIA!

The CS Channel Support Specialist II renders support to the CS distribution channels in terms of the financial management of Group Businesses (Employee Benefit and Credit Life Policies).

Individual should be in-charge of recording, summarizing and analyzing financial data of group businesses on an end to end finance process.

Shall likewise render support is in preparing the management reports needed related to the business performance of Corporate Solutions, channel revenue and profitability performance and LOB Byline report.

Roles and Responsibilities :

1. Management Reports :

  • Oversee and coordinate preparation, consolidation and submission of sales forecast and targets.
  • Consolidates and submits strategic plan, project status, and regular local and group related reports.
  • Provide support in preparing CS financial reports as may be required by senior management and the group office, such as but not limited to daily / monthly actual CS ANP & Net VoNB performance, cash production, byline profitability reports, monthly production forecasts, annual financial targets.
  • 2. Sales Rewards

  • Processes rewards computation of sales / distribution channels, including but not limited to variable compensation, tactical incentives, annual awards for CS Agency, allowable expense budget of events / incentive trips, etc.
  • 3. Manage and submit the general operating expense, logistical requirements and property custodianship monitoring of Corporate Solutions and ensure compliance with approved operating budget.

    4. Premium Payment Processing

  • Maintain, monitor and reconcile group payment suspense accounts on a daily basis.
  • Prepares premium adjustment accounting entries such as premium allocation, refunds and other adjustments.
  • Coordinate with CS Operations & CS Sales on the concerns related to premium suspense balances
  • 5. Commission Processing

  • Monitors the group policy commissions.
  • Prepares commission adjustment accounting entries such commissions expense reclass, commission expense agent code reclass, commission claw backs and other adjustments.
  • 6. Payment Request Processing

  • Processes payment requests as needed, related to Premium Refunds, Service Fees, Manual Computed Commissions (Sales / Operations)
  • Prepares tax certificates related to service fees and commissions.
  • 7. Financial Reporting

  • Prepares reconciliation of Group Business Balance Sheet Accounts such as payment suspense account, other receivables and other payables account on a monthly and quarterly basis.
  • Prepares other necessary journal entries related to Group Businesses such as Commission Gross-up entries, Service Fees Accruals
  • Prepares and submits various financial reports to Actuarial the following reports (Movement of Policies Report, Reinsurance Report, IBNR report, other requested reports and etc.)
  • Clearing and allocation; Commission payment / crediting; and DST, Premium tax and w / tax booking.
  • Monitors preparation of the following : DST Schedules and payables; All requisition for checks ( Commission, Refunds, Reinsurance)
  • Monitors preparation of monthly Reserves Valuation; Unearned Premium Reserves; Experience Rating Reserves; Due Premiums
  • Checks and validates accounting journals : Premium ; Claims Reserves ; Reinsurance; and All reserves for CS businesses
  • 8. Ensure that service level commitments based on service level agreements with internal and external parties are adhered to and initiate appropriate actions as necessary to ensure that the required services to CS clients are delivered accurately and promptly.

    Minimum Requirements :

  • At least 3 years experience in CS financial business reporting and management support.
  • College course related to Finance (preferred)
  • Build a career with us as we help our customers and the community live healthier, longer, better lives.

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