Senior Manager of Compensation and Expense Planning

Greeley Square, NY 10001

Posted: 07/15/24 Employment Type: Direct Hire Position: Financial Sales Job Number: 17161 Work Location: Hybrid

Job Description


As the Senior Manager of Compensation and Expense Planning, you will oversee and manage the functions tied to Sales, Compensation, and Distribution Expense Planning. This pivotal role involves working closely with Distribution leadership, sales, and strategy teams to craft and implement both internal and external compensation plans, as well as product, segment, and regional sales strategies. You will manage a substantial Distribution expense budget exceeding $750M and drive sales planning objectives surpassing $1B. Serving as a strategic advisor, you will provide forward-thinking insights, critical analytical thinking, and financial guidance to align sales processes with the financial objectives of the Group Benefits division.

Key Responsibilities:
  • Sales Planning Leadership: Direct the annual sales planning process in partnership with Distribution sales and strategy teams. Gather insights, analytics, market data, and broker segmentation results to develop thorough plans.
  • Strategic Financial Planning: Coordinate the delivery of the annual operating and three-year strategic financial sales plan. Manage a team that constructs sales plans by product, group size, broker segmentation, and regional markets, ensuring guidance and approval from key leadership in Distribution, Product, Finance, and Underwriting.
  • Goal Development: Collaborate with commercial strategy & field operations, distribution market leaders, and client management leadership to set individual goals for sales representatives and account management.
  • Sales Compensation Design: Develop and support sales compensation plans to advance strategic initiatives and company goals. This includes internal sales incentive compensation and intermediary compensation structures such as special producer compensation (SPC) programs.
  • Practice Monitoring and Recommendations: Evaluate the effectiveness of existing practices and suggest cost-effective improvements that align with best practices and corporate objectives.
  • Data Analysis and Scenario Modeling: Shape internal and intermediary compensation designs through data analysis and scenario modeling for sales representative and broker compensation.
  • Data-Driven Insights: Lead a team to generate and maintain data-driven insights that evaluate the effectiveness of sales and intermediary compensation plans, identifying areas for improvement. Provide regular and ad hoc reports on sales performance, earnings, and trends for leadership.
  • Expense Budget Support: Manage the operating expense budget for sales, client management, account service management, and field operations teams. Collaborate with department managers to establish timelines and methodologies for budget completion. Forecast and prepare annual and monthly budget projections. Track monthly expenses, comparing actual figures to forecasts, and make necessary adjustments.
  • Capacity Model Refresh: Annually update Distribution capacity models to align with the operating model, incorporating productivity and efficiency gains into financial expense plans.
  • ROI Metrics Reporting: Develop and report on ROI metrics for both internal and external Distribution expenditures, including travel and entertainment (T&E), marketing, sponsorships, commissions, and special producer compensation.

Qualifications:
  • Experience: 8+ years of progressive experience in finance and/or sales analytics.
  • Education: Bachelor's degree in accounting, actuarial science, economics, finance, or a related discipline. Professional certifications such as Fellow or Associate of the Society of Actuaries, or an MBA, are preferred.
  • Leadership Skills: Strong leadership abilities with the capability to influence and engage senior stakeholders, with the expertise and personal credibility to challenge effectively.
  • Technical Proficiency: Preferably proficient with Tableau software. Strong analytical skills to interpret financial data sets and communicate their narrative.
  • Forecasting Techniques: Knowledgeable in predictive forecasting techniques and scenario modeling.
  • Autonomy and Efficiency: Demonstrated ability to produce high-quality work efficiently and increase autonomy over time.
  • Analytical and Organizational Skills: Strong analytical, organizational, and project management skills.
  • Communication Abilities: Excellent communication and interpersonal skills.
  • Team Leadership: Experience in building, leading, and motivating teams.
  • Sales Process Understanding: In-depth understanding of sales processes and strategies.

Meet Your Recruiter

Fran Biunno
Managing Director

Fran is a Managing Director of Top Stack’s Finance & Accounting Direct Hire Division based out of Wayne, PA. He earned his bachelor's degree in Accounting from Villanova University. He has numerous awards including "Performer of the Year." Fran began his career working at the Philadelphia Stock Exchange while in college, he transitioned into Recruiting/Staffing and has developed a passion for matching top talent with premier employers. He is thrilled to be part of a great team that works hard to match candidates with employers and interacting with individuals both internally and externally. He is most proud of his keen ability to build lasting relationships with clients and candidates. His straightforward approach has gained him distinguished recognition in the industry.

Aside from his love of sales and recruiting, Fran enjoys cooking, grilling, and entertaining family and friends, as well as golfing. He is passionate and extremely knowledgeable regarding sports (especially Nova hoops!).

Apply Online

Send an email reminder to:

Share This Job:

Related Jobs:

Login to save this search and get notified of similar positions.

About Greeley Square, NY

Start your career in the vibrant heart of New York City at Greeley Square! Explore our job opportunities in this bustling area, located near iconic landmarks such as the Empire State Building and the lively Garment District. With a blend of commerce, culture, and endless growth possibilities, Greeley Square offers job seekers a unique chance to thrive in a dynamic environment. Enjoy delectable cuisine from nearby Koreatown, catch a show at the renowned New Victory Theater, or discover local art at the ICP Museum. Join us in this exciting region, where opportunities abound and the city's irresistible charm awaits. Begin your journey today!