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Agency Compensation Analyst

Company: Reliance Standard
Location: Philadelphia
Posted on: June 16, 2019

Job Description:

Job Description: Job Summary:
With supervision, this position includes a variety of diversified duties relating to the administration, payment and auditing of Agent Compensation. The compensation-related functions range from account set-up, semi-monthly commission payments, agent incentive payments, audits, and compliance review. Duties and Responsibilities:

  • Answers agent compensation inquiries from internal and external customers.
  • Responsible for changes to agent compensation including but not limited to broker of record changes and compensation rate changes.
  • Performs the daily reconciliation of Agent Account Balances
  • Performs the process of bi-monthly SOX auditing for the bi-monthly compensation cycle and the annual Premier Producer program.
  • Responsible for the auditing and distribution of Form 5500 information to agents and policyholders.
  • Responsible for testing of all compensation related changes to our source systems.
  • Monitors agent suspense transactions to ensure timely resolution.
  • Monitors Agent Net commission transactions as well as the debit balance and recovery process to ensure timely clearance.
  • Oversees the annual 1099-M reporting process for Agent Compensation payments.
  • Responsible for the compilation of detailed reports based on information developed during the compensation audit process.
  • Maintains a high level of quality regarding the department's production.
  • Keeps management advised of potential problems
  • Reviews and interprets complicated compensation situations using sound judgment and reasoning.
  • Maintains set goals and objectives.
  • All other duties as assigned. Education, Knowledge, Skills, Abilities and/or Related Experience:
    • Associates or Bachelors Degree preferred or a minimum of three years work experience.
    • Ability to effectively use RSL agency systems.
    • Experience with broker compensation or customer service in a financial services industry required
    • Must work well in a team-focused environment.
    • Must be able to multi-task.
    • Strong organizational skills and attention to detail
    • Effective oral and written communication skills
    • Strong analytical thinking and problem solving skills.
    • Excellent time management and ability to work with deliverables
    • Must be proficient in Microsoft Word and Excel.

Keywords: Reliance Standard, Philadelphia , Agency Compensation Analyst, Professions , Philadelphia, Pennsylvania

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