Commissions Specialist

Transamerica

Cedar Rapids (IA)

Hybrid

USD 25,000 - 29,000

Full time

6 days ago

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Benefits offered by this job

Pension Plan

401k Match

Employee Stock Purchase Plan

Tuition Reimbursement

Job summary

Transamerica is hiring for a Commission Payments Specialist to research, reconcile, and process high-volume agent commissions for Transamerica Financial Advisors and World Financial Group. The role handles inquiries, ensures timely payments, and maintains accuracy across multiple providers and regions.

The position requires a bachelor’s degree in accounting or business, strong math skills, and proficiency in MS Excel, with SQL knowledge preferred.

Qualifications

Bachelor’s degree in accounting or business field, or equivalent experience.
Strong math aptitude and research skills.
Attention to detail and good communication abilities.
Proficiency using MS Excel; SQL knowledge preferred.

Responsibilities

Support semi-weekly commission cycles for multiple providers in the U.S., Puerto Rico, and Canada.
Enter key commission activities into commission systems for non-platinum providers.
Ensure payments and statements are accurate and on time to meet regulatory and audit requirements.
Verify deposits/funding and reconcile against compensation data.
Resolve pending, on-hold, and chargeback items.
Respond to routine agent inquiries and escalate as needed.
Follow SOX-compliant procedures for segregation of duties.
Communicate with third party providers regarding compensation issues.
Run basic queries using SQL and other systems.
Research commission and balancing issues and escalate for resolution.

Skills

Strong math aptitude

Research skills

Attention to detail

Good written and oral communication

Education

Bachelor’s degree in accounting or business field, or equivalent experience

Tools

MS Excel

SQL

Job description

About Us

At Transamerica, hard work, innovative thinking, and personal accountability are qualities we honor and reward. We understand the potential of leveraging the talents of a diverse workforce. We embrace an environment where employees enjoy a balance between their careers, families, communities, and personal interests.

Job Family

Operations - General

About Us

Ultimately, we appreciate the uniqueness of a company where talented professionals work collaboratively in a positive environment — one focused on helping people look forward and plan for the best life possible while providing tools and solutions that make it easier to get there.

Who We Are

We believe everyone deserves to live their best life. More than a century ago, we were among the first financial services companies in America to serve everyday people from all walks of life.

Today, we’re part of an international holding company, with millions of customers and thousands of employees worldwide. Our insurance, retirement, and investment solutions help people make the most of what’s important to them.

We’re empowered by a vast agent network covering North America, with diversity to match. Together with our nonprofit research institute and foundation, we tune in, step up, and are a force for good — for our customers and the communities where we live, work, and play. United in our purpose, we help people create the financial freedom to live life on their terms.

What We Do

Transamerica is organized into three distinct businesses. These include 1) World Financial Group, including Transamerica Financial Advisors, 2) Protection Solutions and Savings & Investments, comprised of life insurance, annuities, employee benefits, retirement plans, and Transamerica Investment Solutions, and 3) Financial Assets, which includes legacy blocks of long term care, universal life, and variable and fixed annuities. These are supported by Transamerica Corporate, which includes Finance, People and Places, General Counsel, Risk, Internal Audit, Strategy and Development, and Corporate Affairs, which covers Communications, Brand, and Government and Policy Affairs.

Transamerica employs nearly 7,000 people. It’s part of Aegon, an integrated, diversified, international financial services group serving approximately 23.9 million customers worldwide.* For more information, visit transamerica.com.

Job Description Summary

Research, reconcile and process high volume, high dollar agent commission payments for Transamerica Financial Advisors and/or World Financial Group. Answer commission related questions from agents and providers.

Responsibilities

Support semi-weekly commission cycles for multiple providers in the U.S. including Puerto Rico, and Canada.

Key commission activities into commission systems for non-platinum providers.

Ensure payments and statement processing are accurate and on time to prevent non-compliance with regulatory authorities (i.e. FINRA, SEC, IOI, etc.) and auditors.

Verify when deposits/funding are received and reconcile against compensation data.

Resolve pending, on hold, and chargeback items.

Respond to routine agent inquiries; elevate to higher level staff as needed.

Follow administrative procedures to ensure segregation of duties in compliance with SOX.

Communicate with multiple third party providers regarding compensation issues on a variety of products.

Run basic queries using SQL and other systems.

Research commission and balancing issues and elevate to higher level staff for resolution as needed.

Qualifications

Bachelor’s degree in accounting or business field, or equivalent experience

Strong math aptitude

Research skills and attention to detail

Good written and oral communication skills

Proficiency using MS Excel

Preferred Qualifications

Experience in the financial services industry

SQL knowledge

Working Conditions

This is a hybrid position requiring three days (Tuesday-Thursday) in office per week in one of our hub locations (Cedar Rapids or Denver).

Relocation assistance will not be provided for this position

Compensation

The hourly rate for this position generally ranges between $18.00 -$21.00 hourly. Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors including qualifications, experience, geography, work location designation (in-office, hybrid, remote) and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.

Additionally, this position is typically eligible for an Annual Bonus of 6% based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.

What We Offer

For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well‑being of our employees.

Compensation Benefits

Competitive Pay

Bonus for Eligible Employees

Benefits Package

Pension Plan

401k Match

Employee Stock Purchase Plan

Tuition Reimbursement

Disability Insurance

Medical Insurance

Dental Insurance

Vision Insurance

Employee Discounts

Career Training & Development Opportunities

Health and Work/Life Balance Benefits

Paid Time Off starting at 160 hours annually for employees in their first year of service.

Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).

Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars

Parental Leave – fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.

Adoption Assistance

Employee Assistance Program

Back-Up Care Program

PTO for Volunteer Hours

Employee Matching Gifts Program

Employee Resource Groups

Inclusion and Diversity Programs

Employee Recognition Program

Referral Bonus Programs

Inclusion & Diversity

We believe our commitment to diversity and inclusion creates a work environment filled with exceptional individuals. We’re thrilled to have been recognized for our efforts through the Human Rights Campaign Corporate Equality Index, Dave Thomas Adoption Friendly Advocate, and several Seramount lists, including the Inclusion Index, 100 Best Companies for Working Parents, Best Companies for Dads, and Top 75 Companies for Executive Women.

To foster a culture of inclusivity throughout our workforce, workplace, and marketplace, Transamerica offers a wide range of diversity and inclusion programs. This includes our company-sponsored, employee-driven Employee Resource Groups (ERGs), which are formed around a shared interest or a common characteristic of diversity. ERGs are open to all employees. They provide a supportive environment to help us better appreciate our similarities and differences and understand how they benefit us all.

Giving Back

We believe our responsibilities extend beyond our corporate walls. That's why we created the Aegon Transamerica Foundation in 1994. Through a mix of financial grants and the volunteer efforts of our employees, the foundation supports nonprofit organizations focused on the things that matter most to our people in the communities where we live and work.

Transamerica’s Parent Company

Aegon acquired the Transamerica business in 1999. Since its start in 1844, Aegon has grown into an international company serving more than 23.9 million people across the globe.* It offers investment, protection, and retirement solutions, always with a clear purpose: Helping people live their best lives. As a leading global investor and employer, the company seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion and diversity.