Compensation Administrator

Compensation Jobs; Toronto; Hybrid; CAD 43,000 - 63,000; Full time

Benefits offered by this job

Hybrid work

Discretionary incentive plan

Job summary

Foresters Financial in Toronto, ON is seeking a Compensation Administrator to ensure accurate and prompt compensation across distribution channels, while maintaining service levels and regulatory compliance.

The role involves administering compensation, responding to inquiries, and supporting U.S. and Canadian producers with timely problem resolution. Hybrid work arrangement and a discretionary incentive plan are provided.

Qualifications

• Excellent written and verbal communication skills.
• Ability to multi-task under pressure and meet deadlines.
• Organize and prioritize workload in changing schedules.

Responsibilities

• Provide support via 1-800 line and answer compensation inquiries.
• Administer compensation for all distribution channels.
• Maintain systems with accurate compensation data for producers and up-line.
• Process compensation adjustments and garnishments.
• Review error reports and correct discrepancies before deadlines.
• Manage debt recovery and arrangements for commissions with Vector One.
• Respond to inquiries promptly to meet service levels.

Skills

Communication skills

Multi-tasking

Attention to detail

Problem solving

Time management

Bilingual (French)

Education

Post Secondary or equivalent

Tools

PMACS

PMACS web portal

Excel

Job description

Career Opportunity

Role Title

Compensation Administrator

Purpose of role

The Compensation Administrator is accountable for ensuring that producers and up-line management in all distribution channels are compensated accurately and promptly, as per established guidelines and service levels and in accordance with state laws. To provide customer service at established service levels to the various distribution channels by accurately answering questions and/or resolving compensation inquiries.

Job Description

Key Responsibilities

• Provide customer service support through our dedicated 1-800 line. Phone support required on schedule and rotational basis.
• Responsible for administration of compensation for all distribution channels, ensuring that all producers and up-line management are accurately compensated.
• Maintain all applicable systems with accurate producer and up-line compensation information.
• Process compensation adjustments, set up and administer garnishments, assignments & court orders.
• Review and correct errors on daily error reports and/or unprocessed activities prior to commission deadlines
• Review Debt management reports and apply established processes in order to recover outstanding producer debts, negotiate and administer special arrangements for commission debt repayment, register and manage terminated producers with debt with Vector One.
• Respond to and ensure efficient & accurate resolution to daily telephone and email inquiries pertaining to compensation issues, meeting established service level standards.

Key Qualifications

• Education (minimum required): Post Secondary or equivalent field experience
• Experience (minimum required): Post Secondary or equivalent field experience
• Excellent written and verbal communication skills.
• Requires strong ability to multi-task under pressure and time constraints to meet various deadlines while maintaining keen attention to detail.
• Able to respond to constantly changing needs and schedules and to organize and prioritize workload.
• Decisive with good judgment/decision-making skills to act effectively in resolving compensation issues.
• Knowledge of producer and up-line contracting for both Canada and the US is an asset.
• Requires well-developed problem solving and analytical skills.
• Accurate keyboarding skills with good working knowledge of Word and Excel.
• Knowledge of PMACS and PMACS web portal would be an asset.
• Ability to work within the hours of Insurance Operations (8:00am - 8:00 pm).
• Must be available to work statutory holidays to support our US customers.
• Must be willing to work extended hours, evenings, and weekends during peak periods as required to meet SLA's.
• Bilingual (French) with written and verbal skills an asset.

#LI-Hybrid

Salary Range:

$43,000.00 - $63,000.00

The actual base salary for this position will depend on several factors, including job-related skills, experience, and education. In addition to base pay, eligible employees may participate in a discretionary variable incentive plan, results are subject to both individual and company performance.

Please note that this posting is intended to fill an existing vacancy; however, there may be instances where more than one vacancy is available for the same role.

Equal Opportunity Employment and Inclusion - at Foresters Financial, we are committed to sustaining an equal opportunity environment for all job applicants. We embrace Inclusion, Diversity and Equity (IDE) as a core strategic objective for building strong, innovative teams in which all our employees can show up wholly and authentically as themselves.

Foresters Financial strives to provide an accessible candidate experience for prospective employees with different abilities. If you anticipate needing any type of accommodations during the recruitment process, please email [e-mail] in advance of your appointment.

Thank you for choosing Foresters. Only those candidates who will be selected for further consideration will be contacted by our Talent Acquisition Team.