Compensation Administrator

foresters; Toronto; Hybrid; CAD 43,000 - 63,000; Full time

Job summary

Foresters Financial in Canada is seeking a Compensation Administrator to ensure accurate and timely compensation for producers and up-line management across distribution channels.

In this role you will administer compensation, maintain systems with precise data, handle garnishments and court orders, and respond promptly to compensation inquiries while upholding service levels and SLA targets.

Qualifications

• Post secondary education or equivalent field experience.
• Excellent written and verbal communication skills.
• Ability to multi-task under pressure and meet deadlines.
• Knowledge of producer and up-line contracting for Canada and the US is an asset.
• Proficiency with Word and Excel.
• Bilingual French is an asset.

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 errors on daily error reports and unprocessed activities prior to commission deadlines.
• Review debt management reports and apply established processes to recover outstanding producer debts; negotiate and manage debt arrangements.
• Respond to and ensure efficient & accurate resolution to compensation inquiries, meeting established service levels.

Skills

Communication

Multi-tasking

Organization

Problem solving

Typing skills

MS Word/Excel

Attention to detail

French (asset)

Education

Post Secondary or equivalent

Tools

PMACS

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.