What are the responsibilities and job description for the Agency Compensation and Contracts Director position at EMC Insurance?
At EMC, you'll put your skills to good use as an important member of our team. You can count on gaining valuable experience while contributing to the company's success. EMC strives to hire and retain the best people by engaging, developing and rewarding employees.
**This position can be performed remotely anywhere in the United States**
Leads team in design, implementation, and maintenance of competitive agency distribution compensation and incentive plans. Manages all agency compensation contracts and agreements and oversees regular analysis of compensation expense levels and makes recommendations to senior leadership. Oversees agency analytics including the agent tiering programs and executes effective agency segmentation strategies taking into consideration profit, growth, retention, and ability to grow. Directs complex initiatives for areas of responsibility and consistently drives results, including responsibility for execution of department’s plans/strategies. Directs the licensing work and oversees agency contracting forms. Manages corporate producer licensing and appointments to ensure compliance with state and federal licensing and appointment laws. Responsible for day-to-day and long-term success of the team.
Essential Functions:
- Leads team in design, implementation, and maintenance of competitive agency distribution compensation and incentive plans, including commissions, contingent compensation, agency tiering, agent incentive and recognition trips, and special agency compensation agreements
- Manages all agency compensation contracts and agreements and oversees regular analysis of compensation expense levels and makes recommendations to senior leadership
- Authors and implements agency contract agreements in collaboration with Corporate Legal Department to ensure compliance with current legal environment. Works directly with agency legal counsel to negotiate individual changes and contract structure and advises branch partners of any structural changes.
- Oversees agency analytics including the agent tiering programs and executes effective agency segmentation strategies taking into consideration profit, growth, retention, and ability to grow. Oversees branch implementation of analytic programs
- Oversees the alignment, data, and tracking for agency agreements and trends with mergers and acquisitions to monitor impact on expense ratio
- Serves as lead for data governance and agency metrics
- Partners with DAP business leaders to ensure alignment with agency data and reporting
- Leads market analysis to identify growth opportunities to support agency growth
- Leads department annual planning initiatives and assigned strategic priorities within areas of oversight to ensure our agency compensation and company contracts and agreements are competitive in the market
- Responsible for day-to-day and long-term success of the team, including goal and policy setting
- Builds team culture in alignment with EMC values to drive team engagement and results while overseeing assigned teams
- Oversees and monitors the workload and performance of the team and determines staffing and capacity needs
- Guides team through complex work issues and answers questions
- Collaborates with team members to establish performance goals and monitors status, conducts reviews, and provides coaching
- Directs the performance of the Agency Contracting team to ensure all licensing work is performed in a timely and accurate manner
- Provides oversight of agency contracting forms to ensure they remain up to date and aligned with EMC’s required components
- Manages corporate producer licensing and appointments to ensure compliance with state and federal licensing and appointment laws
- Ensures all contracting and appointment processes and questions are answered for our agency partners
Education & Experience:
- Bachelor’s degree preferably in finance, marketing, or business or equivalent relevant experience
- Ten years of progressively responsible experience in property and casualty insurance marketing, underwriting, agency experience or related experience
- Insurance designations, such as CPCU or CIC preferred
Knowledge, Skills & Abilities:
- Exceptional knowledge of the property and casualty insurance industry and independent agency operations
- Excellent verbal and written communication, including presentation abilities
- Excellent analytical, problem-solving, critical thinking, and organizational abilities
- Excellent interpersonal and leadership skills
- Ability to build strong partnerships with business units to drive results
- Excellent ability to create, read, and interpret agency-company contracts and compensation agreements
- Strong understanding of financial statements and commonly used financial acumen and business concepts
- Proficiency with business intelligence software such as PowerBI, Tableau, and more
- Excellent investigative and problem-solving abilities
- Strong Microsoft Office Suite skills
- Occasional travel; a valid driver’s license with an acceptable motor vehicle report per company standards required if traveling
Per the Colorado Equal Pay for Equal Work Act, the hiring range for this position for Colorado-based team members is $115,000 - $160,000. The hiring range for other locations may vary.
Our employment practices are in accordance with the laws that prohibit discrimination due to race, color, creed, sex, sexual orientation, gender identity, genetic information, religion, age, national origin or ancestry, physical or mental disability, medical condition, veteran status, active military status, citizenship status, marital status or any other consideration made unlawful by federal, state, or local laws.
All of our locations are tobacco free including in company vehicles.
Salary : $115,000 - $160,000
