Head:channel Economics and Remuneration

Who are we?
Sanlam Developing Markets [SDM] (a wholly-owned subsidiary of Sanlam Life Limited) is one of the top financial services providers in the South African entry-level and emerging middle market. It aims to understand the unique requirements of clients and offers a wide range of simple and affordable financial solutions that cover needs such as funeral insurance, savings for education, life cover and personal accident plans. In terms of the Sanlam Group Governance Policy, SDM is managed by the SA Retail Mass cluster, which is part of the Sanlam Life and Savings cluster within the Sanlam Group. The cluster focusses on retail products, as well as group schemes. What will you do?
- To drive the distribution economics and remuneration strategy that will enable and guide the Sanlam Retail Mass (RM) Distribution Division to:

- Predict, drive and measure the success probabilities of products across various distribution channels.
- Develop and implement competitive and profitable remuneration and incentive structures for Advisors.
- Make informed, data-led decisions to reach and grow its client base and achieve its strategic objectives.
- To take accountability for departmental performance through business planning, goals, metrics, and partnerships.
- Deliver and gain approval for the distribution channel economics and remuneration strategy and business plan for Sanlam Retail Mass (RM). Develop and embed metrics and clear performance measurements along the distribution channel value chain.
- Work with the Executive to deliver and gain approval for distribution channel economics and remuneration initiatives and projects that will support the strategic and business objectives.
- Prepare, propose, manage and deliver the annual distribution channel economics and remuneration budget.
- Further enable the profitability targets per channel through identifying, setting up and managing partnerships with external vendors and service providers.
- Ensure continuous monitoring of performance against budget and be accountable for budget control for the department. Motivate recommendations/requests for further budget or deviation from budget where appropriate.
- Remain up to date with advancements and developments in technology, best practice and legal/statutory requirements relating to profitability, economics and remuneration. Facilitate adoption of best practices to optimise departmental performance.
- Drive the formulation and implementation of Advisor remuneration and incentive models per distribution channel, aligned to the business objectives to drive key business outcomes, within allocated budget.
- Ensure equivalence of reward principles are adhered to.
- Drive the measurement of advisor performance per distribution channel, in line with incentive models and indexes. Ensure models are updated with relevant data.
- Compile and deliver monthly and annual Exco and Managerial reporting.

What will make you successful in this role?
- At least 8 -10 years distribution channel experience in the insurance industry:

- Experience in engaging with key business and external partners across all levels (especially at senior levels)
- Data analytics / metric / model development
- Previous leadership experience (previous supervisory experience ideal)
- Previous report writing experience
- Project management experience

We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future - your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth. Through its four business clusters - Sanlam Life and Savings, Sanlam Investment Group, Sanlam Emerging Markets, Santam, as well as MiWay and the Group Office - the group provides many opportunities for growth and development. Core Competencies Cultivates innovation - Contributing strategically Customer focus - Contributing strategically Drives results - Contributing strategically Collaborates - Contributing strategically Being resilient - Contributing strategically Turnaround time
The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. The Group's Employment Equity plan and targets will be considered as part of the selection process.