What are the responsibilities and job description for the Analyst, Producer Commissions and Incentive Payables position at World Insurance Associates LLC?
Company Overview
World Insurance Associates (“World”) is a unique financial services organization with a global network of brokers and specialists who empower people to make informed decisions to improve their risk management outcomes, modernize their benefits programs, and help them achieve their long-term financial goals.
Founded in 2011, World is one of the fastest-growing, Top 25 insurance brokers in the U.S. with nearly 3,000 employees in more than 300 offices across North America and the U.K. World specializes in personal and commercial insurance, surety and fidelity bonding, employee and executive benefits, investment advisory and retirement plan services, and payroll & HR solutions.
Primary Responsibilities
At World Insurance Associates (WIA), we celebrate and support our differences. We know employing a team rich in diverse thoughts, experiences, and opinions allows our employees, our products, and our community to flourish. WIA is honored to be an equal opportunity workplace. We are dedicated to equal employment opportunities regardless of race, color, ancestry, religion, sex, national orientation, age, citizenship, marital status, disability, gender identity, sexual orientation, or Veteran status. In addition, WIA makes reasonable accommodations to known physical or mental limitations of an otherwise qualified applicant or employee with a disability, unless the accommodation would impose an undue hardship on the operation of our business.
To Executive Search Firms and Staffing Agencies
World does not accept unsolicited resumes from any agencies that have not signed a mutual service agreement. All unsolicited resumes will be considered World’s property, and World will not be obligated to pay a referral fee. This includes resumes submitted directly to Hiring Managers without contacting World’s Human Resources Talent Department.
World Insurance Associates (“World”) is a unique financial services organization with a global network of brokers and specialists who empower people to make informed decisions to improve their risk management outcomes, modernize their benefits programs, and help them achieve their long-term financial goals.
Founded in 2011, World is one of the fastest-growing, Top 25 insurance brokers in the U.S. with nearly 3,000 employees in more than 300 offices across North America and the U.K. World specializes in personal and commercial insurance, surety and fidelity bonding, employee and executive benefits, investment advisory and retirement plan services, and payroll & HR solutions.
Primary Responsibilities
- Prepare statements and communications for unit leader and producer bonuses in accordance with employment agreement terms
- Review of new acquisition employment agreements for tracking unit leader and producer bonuses
- Prepare statements and communications for acquisition bonuses in accordance with asset purchase agreement terms
- Review of new acquisition asset purchase agreements for tracking acquisition bonuses
- Setup of employee profiles in agency management systems with default commission rates in accordance with employment agreements
- Preparation of monthly journal entries related to accrued bonuses and bonus payments
- Reconciliation of unit leader and producer bonus general ledger accounts
- Coordination with IT and agency management system specialists to ensure producers are properly coded to accounts at prior and post conversion into World agency management systems
- Provide payroll or accounts payable with payment information related to producer, unit leader, or acquisition bonuses on timely basis
- Prepare monthly producer draw reconciliations and related journal entries. Update tracking schedule for producers in draw deficit, to be presented to management.
- Ad hoc projects as assigned by management
- Maintain and update monthly schedule of all variable compensation employees and coordinate changes with payroll, HR, and other relevant departments
- Coordinate addition of new brokers in our agency management systems with operations, legal, and regulatory affairs
- Bachelor's Degree preferred
- Required Minimum of 2 years' experience in accounting, insurance industry
- Prior commission payable experience preferred
- Required Proficient in accounting software and Microsoft Office Suite or related software
At World Insurance Associates (WIA), we celebrate and support our differences. We know employing a team rich in diverse thoughts, experiences, and opinions allows our employees, our products, and our community to flourish. WIA is honored to be an equal opportunity workplace. We are dedicated to equal employment opportunities regardless of race, color, ancestry, religion, sex, national orientation, age, citizenship, marital status, disability, gender identity, sexual orientation, or Veteran status. In addition, WIA makes reasonable accommodations to known physical or mental limitations of an otherwise qualified applicant or employee with a disability, unless the accommodation would impose an undue hardship on the operation of our business.
To Executive Search Firms and Staffing Agencies
World does not accept unsolicited resumes from any agencies that have not signed a mutual service agreement. All unsolicited resumes will be considered World’s property, and World will not be obligated to pay a referral fee. This includes resumes submitted directly to Hiring Managers without contacting World’s Human Resources Talent Department.