Corebridge Financial - Houston, TX
posted 2 months ago
The Vice President of Sales & Incentive Compensation at Corebridge Financial is a pivotal role responsible for overseeing the annual planning process and providing strategic guidance to senior and executive leadership on incentive compensation plan designs. This position requires a deep understanding of financial services and the ability to model alternative designs that align with the company's objectives. The VP will develop comprehensive presentations to outline these designs for senior management and shepherd proposed designs through necessary risk reviews involving HR, Legal, Compliance, and Enterprise Risk Management (ERM). In addition to planning, the role involves budgeting and forecasting for Sales Incentive Compensation (SIC) plans based on sales projections, collaborating closely with field distribution and finance teams. The VP will conduct monthly accruals for SIC, perform budget variance analysis, and analyze SIC outcomes against expectations to measure plan effectiveness. This includes participation in third-party surveys to assess competitive positioning within the industry. The administration of SIC plans is another critical responsibility, which includes overseeing the calculation of monthly SIC payments and ensuring compliance with recoverable draws. The VP will work with Distribution Management to derive payments under metric-based SIC components and determine awards for top performers. Communication with Distribution Management and HR Compensation teams is essential, as the VP will propose and model design changes in response to market conditions and sales outlook changes. Onboarding new hires is also part of the role, requiring collaboration with Distribution Management and Talent Acquisition to design offers that may include customized terms based on individual experience. The VP will oversee the administration of non-standard compensation agreements and ensure alignment of reporting produced by customer intelligence and performance teams. Team and process management are key aspects of this position, as the VP will manage a team supporting compensation processes, ensuring that policies and procedures are current and effective. The role involves developing controls to detect and prevent commission errors, identifying risks, and implementing solutions to mitigate them. The VP will also redesign commission processes to ensure accuracy and timeliness of payments. Governance and reporting responsibilities include supporting the Chair of the Conflicts of Interest & Compensation Committee, leading the Retirement Services Compensation Sub-Committee, and producing executive-level reporting for various senior management meetings. The VP will ensure that key stakeholders are informed of commission-related activities and risks across the organization, delivering critical statistics and risk assessments to operational and financial business units.