Senior Commissions Analyst

SUMMARY:
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POSITION INFO:

We're thrilled to announce a new and exciting opening for a Senior Commissions Analyst to join our team in Cape Town.

The Commissions Analyst plays a pivotal role in maintaining, developing, and implementing market-leading commission models, ensuring alignment with the organisation's growth and profit objectives. This role involves exploring data enhancements, owning model performance, and supporting innovative product development. The Commissions Analyst will also drive proper governance on commission models and provide crucial data-driven insights to support and advise the business.

The Commissions Analyst operates at the intersection of finance, analytics, and strategy within the organization. They are responsible for optimizing commission structures to incentivize sales and drive growth while ensuring accuracy and compliance. This role requires a deep understanding of financial modelling, data analysis, and business strategy.

Duties And Responsibilities (Include But Are Limited To)

• Maintain, update, and improve commission models
• Identify and explore data sources and enhancements for commission modelling
• Monitor and evaluate model performance against actual experience
• Take corrective actions to address weaknesses in commission models
• Develop and implement commission strategies for new and existing business
• Collaborate with cross-functional teams to achieve growth and profit objectives
• Support the development of new and innovative products through commission structures
• Implement and maintain governance frameworks for commission models
• Achieve growth and profit objectives through commission strategies
• Conduct regular audits and reviews of commission calculations
• Conduct regular commission model reviews and adjustments
• Analyse market trends and competitor commission structures
• Optimize commission payout structures for sales teams
• Provide data-driven insights to guide decision-making
• Conduct ad-hoc analyses to address specific business questions
• Prepare and present commission-related reports and findings to stakeholders
• Optimise commission models to align with regulatory requirements.
• Recommend process improvements to enhance commission efficiency
• Develop and maintain documentation for commission policies and procedures
• Assist in the design of compensation and incentive programs
• Analyse sales data to identify opportunities for improvement
• Evaluate the impact of commission changes on sales team performance
• Monitor and report on commission plan effectiveness
• Ensure timely and accurate commission payouts
• Conduct sensitivity analysis on commission models
• Develop and deliver training on commission-related topics
• Stay updated on industry best practices and trends in commission structures
• Collaborate with IT teams for data extraction and automation
• Collaborate with IT teams to ensure data accuracy and integrity
• Maintain confidentiality of sensitive compensation information
• Monitor compliance with commission-related policies and guidelines
• Participate in budgeting and forecasting processes related to commissions
• Assist in the development of commission budget allocation strategies
• Respond to inquiries and resolve commission-related issues
• Assist in the implementation of commission software and tools
• Foster a culture of data-driven decision-making
• Maintain documentation of commission model methodologies
• Drive continuous improvement in commission-related processes and methodologies
  
  

Key Requirements

• Grade 12 or equivalent (Essential)
• Bachelor’s degree in Finance, Economics, Business, or related field.
• Bachelor’s degree in Actuarial Sciences (Preferred)
• Certification in financial analysis or data analytics is a plus.
• Master of Business Administration (Desirable)
• 5-7 years’ Experience in financial analysis, commission modelling, or related roles
• 5 -7 years’ Experience with commission software and data analytics tools
• Knowledge of regulatory requirements related to compensation and commissions
• Experience in a sales-driven industry is advantageous
• Experience in the financial services or insurance industry is advantageous
• Prior experience in product development and strategy is a plus
• Demonstrated ability to work with large datasets and complex models
• Strong proficiency in Excel spreadsheet and data analysis software
  
  

Additional Skills Required

• Data Analysis
• Modelling Expertise
• Strategic Thinking
• Governance and Risk Management
• Communication and Presentation
• Market Awareness
• Problem Solving
• Process Improvement
• Attention to Detail
• Budget Management
• Interpersonal and Networking Skills
• Advanced Excel skills

Please note that by submitting your personal information to Deka Minas you free-willingly issue the business consent to make use of such data for the specific purpose of securing you either permanent or temporary employment. Our business makes use of a POPIA compliant database and you have the right to access, right to correction and right to deletion of your personal information