Specialist, Contracting & Compensation (12-month contract)

Foresters Financial; Toronto; Hybrid; CAD 70,000 - 90,000; Full time

Job summary

A prominent financial services company in Toronto is seeking a Specialist, Contracting & Compensation for a 12-month contract. The role involves leading reconciliations for compensation processes, collaborating with stakeholders, and providing support for various operational initiatives. Candidates should have 7-10 years of experience in the financial industry, strong analytical skills, and the ability to work under pressure. This position promotes a diverse and inclusive environment, offering a hybrid work model.

Qualifications

• 7-10 years of experience in the financial services industry.
• Experience in Compensation and/or Contracting.
• Ability to work extended hours during peak periods.

Responsibilities

• Ensure timely completion of reconciliations for pay runs and tax forms.
• Investigate production issues and recommend solutions.
• Provide customer service through dedicated support lines.

Skills

Problem solving

Analytical skills

Communication skills

Multi-tasking

Education

Post secondary diploma in a related field

Tools

PMACS

SQL

Microsoft CRM

Amazon Connect

Job description

Career Opportunity Role Title: Specialist, Contracting & Compensation (12-month contract)

Purpose of role Supporting Insurance Operations, the Specialist, Contracting & Compensation takes lead on departmental reconciliations, identifying and investigating issues, recommending solutions, testing and supporting implementations. Provides coordination and support for projects, enhancements, and other initiatives.

Key Responsibilities

• Responsible for ensuring timely completion of reconciliations, including all pay runs, compensation reconciliation, filing of tax forms, agent licensing and appointments, and other reconciliations as needed
• Investigates and identifies potential risks, impacts, and makes recommendations to management on how to resolve existing risks, detect and prevent future risks, in accordance with applicable laws, regulations, and Foresters policies
• Collaborates with internal and external stake holders and technical teams to define business needs for new enhancements, projects, and process optimization
• Investigates production issues and uses creative problem solving to recommend and implement solutions
• Serves as the subject matter expert and provides guidance when issues, challenges or complex situations arise relating to technology or reconciliations
• Assists in the identification of change impact (current state vs. new state) through requirements gathering, process mapping and documenting current and proposed processes
• Responsible for daily and ad hoc reporting for management, internal, and external customers including but not limited to reconciliations, production and SLA metrics, and producer/advisor reports
• Brings forward trends regarding quality, training or process gaps and makes recommendations to management on how to improve quality and training to close process gaps
• Assists with complex inquiries and escalations with minimal to no supervision. Analyzes root cause and provides appropriate solutions
• Makes recommendations for improvements and efficiencies, soliciting feedback from team members and other internal stakeholders as needed
• Recommends and implements new working procedures for the team members
• Trains, mentors, and coaches team members, makes and implements recommendations for process improvements
• Assists in production work efforts as needed
• Provides customer service support through our dedicated 1-800 line. Phone support required on schedule and rotational basis

Key Qualifications

• Education (minimum required): Post secondary diploma in a related field or equivalent experience
• Experience (minimum required): Preferred minimum 7-10 years in the financial services industry
• Preferred minimum 7-10 years in Compensation and/or Contracting
• Knowledge of PMACS and PMACS web portal or other Contracting & Compensation Administration systems is an asset
• Experience with Microsoft CRM and Amazon Connect is an asset
• Knowledge of SQL an asset
• Requires highly developed and creative problem solving, investigation, and analytical skills, ability to recognize and address discrepancies, anomalies, inconsistencies, and long-term implications of decisions and actions relating to compensation and up and down stream business partners
• Advanced written and verbal communication skills to effectively communicate with internal and external customers and resolve escalations
• Self-starter with demonstrated ability to prioritize own work and work of others
• Decisive with good judgment/decision-making skills to act effectively in resolving compensation issues
• Results driven with strong ability to multi-task under pressure and time constraints to meet various deadlines while maintaining keen attention to detail
• Knowledge of producer/advisor and up-line commission structures, producer/advisor licensing and contracting for both Canada and the US
• Knowledge of SQL an asset
• Ability to learn quickly and leverage new technologies
• Ability to work within the hours of Insurance Operations (8:00am – 6:00 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

#LI-Hybrid

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.