Compensation Analyst

Compensation Analyst

 We have an immediate need for an individual who will manage the firms’ commissions.

Purpose of the Position:

To execute and facilitate the tracking of commission and new sales.  This individual will be responsible for documenting all incoming commission and outgoing commission payables for the Controller to process as a check and balance. This person will work closely with the Director of Client Services.

Essential Functions:

• Prepare deposits for the Controller to allocate in OPRA
• Record all deposits in the check log
• Project commission for all of Jim’s cases
• Prepare Jim’s new sales figures each month to count toward his management fee
• Reconcile all commission receipts and follow up with carriers if there are any issues
• Stay on top of commission rates and chargeback schedules
• Project chargeback figures as needed
• Project commission for outside agents included on a case with Jim (often times at different rates)
• Prepare large case commission and chargeback projection charts for all agents on a case
• Track service agreement admin fees and work with Controller to ensure payment into and out of reserve accounts
• Track renewals on large cases
• Prepare flooring projection analysis each year during the budget process.
• Track and confirm Partners Bonus Payments

Knowledge Base:

• Knowledge of Marketing procedures
• Knowledge of insurance processing procedures
• Knowledge of how Underwriting work
• Knowledge of how Non-Qualified plans work
• Computer and office equipment experience, Word Processing, Excel, Database Entry
• Excel Spreadsheet development
• Attention to detail and accuracy of work are imperative
• Must be dependable and flexible in changing priorities with the ability to handle multiple tasks
  Excellent interpersonal and communication skills (oral and written) Compose correspondence (letters, memos, reports etc.) and proofread.
• Good communications skills with ability to speak to staff and advisors clearly and distinctly with emphasis on correct pronunciation
• Ability to apply commonsense, understanding and carry out detailed but uninvolved written or oral instructions

Work Experience:

• 5 years of experience in handling life insurance commissions
• Ideally, the experience should be in underwriting and administration of policies, along with strong knowledge of life insurance procedures.