What are the responsibilities and job description for the Compensation Specialist position at Raymond James Financial, Inc.?
Job Description Summary
Under limited supervision, uses specialized knowledge of branch compensation arrangements and accounting skills obtained through experience and training to manage the various branch compensation process and handle related reporting to business unit senior management, financial advisors and staff. Manages processes and projects of moderate scope and complexity. Guidance is provided to perform varied work that is somewhat difficult in character requiring some evaluation, originality and ingenuity to make moderately complex decisions. Routinely recommends solutions to complex problems. Regular contact with internal and external customers is required to obtain, clarify or provide facts and information related to branch compensation arrangements.Job Description
Essential Duties and Responsibilities
Reviews, calculates, and reconciles payroll for termed Advisors and Branches and provides detailed reporting to support payment or collections of outstanding payroll entries.
Works closely with the Legal Department to support the demand and collections process including overseeing collections and/or write-off transactions.
Establishes contact and discussions with termed Advisors and/or Branch Managers to facilitate payments or collections.
Creates, reviews and/or audits reports on a regular basis.
Provides detailed reporting on collections, loan defaults, and held balances to business unit senior management.
Identifies potential process improvements to increase efficiency in processing or analyzing financial information.
Works with other areas of the firm on projects related to building and maintaining tracking systems. Participates or handles various projects as assigned.
Resolves or recommends solutions to complex problems.
Performs other duties and responsibilities as assigned.
Knowledge of
General office practices, procedures, and methods.
General payroll processing.
Intermediate accounting concepts, practices and procedures.
Strong knowledge of Microsoft Office applications.
Accrual based accounting practices.
Intermediate cost allocation concepts and practices.
Principles of banking and finance and securities industry operations.
Skill in
Analyzing financial information.
Performing mathematical calculations.
Operating standard office equipment and using required software applications, including word processing, spreadsheets and databases.
Preparing, processing and maintaining transaction documentation, files, and records.
Organizational and time management sufficient to prioritize workload, handle multiple tasks, and meet deadlines.
Ability to
Identify, recommend and justify changes to standard procedures when required by specific situations and circumstances.
Work independently, make decisions and resolve or recommend solutions to moderately complex accounting problems.
Communicate effectively, both orally and in writing, with all organizational levels.
Organize, manage and track multiple detailed tasks and assignments with frequently changing priorities in a fast-paced work environment.
Demonstrate efficiency and flexibility in performing detailed tasks in a fast-paced work environment with frequent interruptions, changing priorities, and multiple deadlines.
Provide a high level of customer service.
Maintain strict confidentiality of associate records.
Education/Previous Experience
Bachelor’s degree in Accounting or equivalent and a minimum of two (2) years of Payroll or Accounting experience.
OR ~
Any equivalent combination of experience, education, and/or training approved by Human Resources.
Education
Bachelor’s: Accounting, Bachelor’s: Business Administration, Bachelor’s: FinanceWork Experience
General Experience - 3 to 6 yearsCertifications
Other Certification Not Listed - OtherTravel
Less than 25%Workstyle
HybridWe expect our associates at all levels to:
- Grow professionally and inspire others to do the same
- Work with and through others to achieve desired outcomes
- Make prompt, pragmatic choices and act with the client in mind
- Take ownership and hold themselves and others accountable for delivering results that matter
- Contribute to the continuous evolution of the firm
At Raymond James – as part of our people-first culture, we honor, value, and respect the uniqueness, experiences, and backgrounds of all of our Associates. When associates bring their best authentic selves, our organization, clients, and communities thrive. The Company is an equal opportunity employer and makes all employment decisions on the basis of merit and business needs.
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