What are the responsibilities and job description for the Commission Specialist - Onsite position at Western & Southern Financial Group?
Overview
Responsible for establishing and servicing sales commissions and expense reimbursement allowance (ERA) plans for firms and brokers. The Specialist will work closely with external business partners, Sales and Finance to ensure commission payments are processed correctly.
Responsibilities
What you will do:
- Processes and reviews commission and ERA hierarchies and set-ups; establishes/reviews commission and ERA schedules for firms and individual producers.
- Applies knowledge of commission and ERA policies and ensures all company guidelines and compliance requirements are followed as relate to sales compensation and commissions.
- Assists licensing & contracting associates in the establishment and maintenance of routine commission processes including training and audits when necessary.
- Assists in the VUE testing process for system or commissions and ERA program changes.
- Provides customer service to firms and wholesalers in reconciling information to ensure proper payouts. Initiates correction processes and resolves complaints to customer's satisfaction.
- Works closely with business partners, including Firm Contacts and Finance to ensure commission and ERA payouts are processed appropriately, timely and in accordance with established guidelines.
- Acts as resource to wholesaler(s) to provide guidance, answer questions and ensure follow-up for sales compensation and reporting inquiries.
- Researches and analyzes error report entries. Processes or initiates corrections.
- Processes service requests (responsible for submitting commission related service requests and following up until problems are resolved) for VUE.
- Creates, reviews and updates commission and ERA schedules in VUE (adding products to current schedules, updating information when there is a rate increase for General Agencies).
- Assists commission analyst with special projects (i.e. Audits).
- Performs other duties as assigned.
- Complies with all policies and standards.
Qualifications
- Bachelor's Degree Or equivalent work experience - Preferred
- Four years of life insurance operations experience. - Preferred
- Four years of progressive experience in commission/payroll specialist capacity. - Preferred
- Extreme attention to detail and accuracy. - Required
- High level of math skills and competency. - Required
- Solid verbal, interpersonal, and written communication skills; demonstrates the utmost confidentiality. - Required
- Ability to work independently with minimal direction. - Required
- Ability to work with all levels of the organization. - Required
- Excellent analytical, organizational, time management, multi-tasking and follow up skills. - Required
- High level of integrity, with the ability to maintain confidences. - Required
- Knowledge of GLIC systems, including VUE system. - Required
- Working knowledge of MS Excel and MS Word. - Required
Work Setting/Position Demands:
- Works in an office setting and remains in a stationary position for long periods of time while working at a desk, on a computer or with other standard office equipment, or while in meetings.
- Requires the ability to verbally communicate and exchange accurate information to customers and associates on a regular basis.
- Requires visual acuity to read and interpret a variety of correspondence, procedures, reports and forms via paper and electronic documents, visual inspection involving small defects; small parts, and/or operation of machinery (including inspection); using measurement devices continuously. Visual acuity is required to determine accuracy, neatness, and thoroughness of work assigned.
- Requires the ability to prepare written correspondence, reports and forms using prescribed formats and conforming to rules of punctuation, grammar, diction, and style on a regular basis.
- Requires the ability to apply principles of logical thinking to define problems, collect data, establish facts, and draw valid conclusions
- Performs substantial movement of wrists, hands, and fingers for continuous computer work.
- Extended hours required during peak workloads or special projects/events.
Travel Requirements:
- None