American General Life Insurance Company - Houston, TX
posted 2 months ago
The Vice President of Sales & Incentive Compensation for Retirement Services is a pivotal role that involves overseeing the annual planning process for sales incentive compensation (SIC) plans. This position requires providing strategic guidance to senior and executive leadership on plan designs that align with the company's objectives. The VP will model alternative designs in collaboration with the finance team and develop comprehensive presentations to communicate these designs to the Corebridge Senior Management. Additionally, the role involves shepherding proposed designs through necessary risk reviews with HR, Legal, Compliance, and Enterprise Risk Management (ERM) to ensure all plans are compliant and effective. In terms of budgeting and forecasting, the VP will be responsible for developing budgets and forecasts for SIC plans based on sales projections, coordinating closely with field distribution and the finance team. This includes providing monthly accruals for SIC, conducting budget variance analyses, and analyzing SIC outcomes against expectations to measure plan effectiveness. Participation in third-party surveys, such as Market Metrics, will also be part of the role to assess the company's competitive position in the market. The administration of SIC plans is another critical responsibility, where the VP will oversee and validate the calculation of monthly SIC payments, ensuring that recoverable draws are enforced where applicable. The role requires collaboration with Distribution Management to derive payments under metric-based SIC components and determining awards under various incentive plans. Effective communication with Distribution Management and HR Compensation teams is essential, as is the ability to propose and model design changes in response to market conditions and sales outlook changes. Onboarding new hires is also a key aspect of this role, where the VP will work with Distribution Management and Talent Acquisition to design and model offers that may include customized terms based on the candidate's experience and opportunities. Oversight of non-standard compensation agreements and ensuring the accuracy of reporting produced by customer intelligence and performance teams will be part of the VP's duties. Team and process management is crucial, as the VP will manage a team supporting compensation processes, ensuring that policies and procedures are current and effective. The role involves developing and implementing controls to detect and prevent commission errors, identifying risks, and redesigning commission processes to ensure timely and accurate payments. Governance and reporting responsibilities include supporting the Chair of the Conflicts of Interest & Compensation Committee and leading the Retirement Services Compensation Sub-Committee, ensuring proper documentation and reporting for senior management meetings.