What are the responsibilities and job description for the Producer Commissions and Incentive Payables Analyst position at World Insurance Associates, LLC.?
Summary
World Insurance Associates is a unique insurance organization offering top products and services from major providers, combined with attentive service from local agents.
Founded in 2011, World is one of the fastest-growing insurance brokers in the U.S. with over 2,200 employees in over 260 offices across North America. We specialize in personal and commercial insurance lines, surety and bonding, employee benefits, financial and retirement services, and human capital management solutions.
Our rapid growth and market leading presence has created opportunities throughout the state and we offer top talent the choice to work from one of our multiple offices throughout the region.
Primary Responsibilities
- Review producer and administrative commission as reported by our agency management system and other agencies when not fully integrated.
- Monthly admin/brokers/others - Run reports, review accuracy/ appropriate to ensure the rates and calculations are in line with Company standards and/or agreed upon amounts
- Quarterly draw recs for producers - Run reports, review accuracy/ appropriate to ensure the rates and calculations are in line with Company standards/employment agreements
- Reconcile Draw Accounts to Producer General Ledger accounts/production reports on a quarterly basis or as requested by management.
- Provide reviewed amounts to payroll for payment
- Prepare periodic Earnout calculations,
- Prepare final commission statements on monthly basis which includes confirming accuracy of commission rates per Admin Comp policy, broker agreements, offer letters or employment agreements
- Review of Asset Purchase Agreements to determine optimal producer profile requirements
- Ensure proper onboarding and offboarding related to commissions.
- Review producers & brokers book of business after M&A conversion for accuracy of rates & codes
- Update producer commission defaults per changes to employment agreements
- Review producer & broker commission reports to ensure the accuracy of rates and compliance with commission agreements
- Field inquiries from all commission recipients including investigation into “missing” commissions, revised rates, shared business, etc.
- Prepare reconciling journal entries
Qualifications
- Bachelor's Degree
- Required Minimum of 5 years' experience in accounting, insurance industry
- Required Proficient in Microsoft Excel
- Excellent verbal and written communication skills
- Thorough understanding of accounts payable commission functions
- Excellent organizational skills and attention to detail
- Experience in Applied EPIC, BenefitPoint, Power BI, or Oracle NetSuite General Ledger a plus.
Equal Employment Opportunity
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.
| #LI-GP1 |
| #LI-HYBRID |
