Producer Commissions and Incentive Payables Manager

World Insurance Associates LLC; Woodbridge Township (NJ); On-site; USD 90,000 - 110,000; Full time

Job summary

World Insurance Associates is seeking a seasoned professional to oversee the daily operations of producer and broker commission processing. You will coordinate statements, payments, and GL reconciliations while partnering with internal sales teams and external brokers.

In this role, you will lead and coach the Commissions Payable team, drive process improvements, and develop SOPs to automate workflows and increase efficiency across the organization.

Qualifications

• Bachelor's Degree in Accounting, Insurance, Business, or a related field.
• Minimum 5 years' accounting experience.
• Prior Insurance industry experience preferred.
• Prior Commission Payable experience preferred.
• Proficiency in accounting software and Microsoft Office Suite.

Responsibilities

• Manage the daily operations of producer and broker commission processing.
• Process monthly, quarterly, and annual commission payments; reconcile GL balances.
• Create and maintain schedules to track quantity and timing of payments.
• Lead, train, coach, and develop the Producer & Broker Commissions Payable team.
• Identify opportunities to automate manual commission processes and improve operational efficiency.
• Develop and maintain standard operating procedures and process documentation.

Education

Bachelor's Degree in Accounting, Insurance, Business, or Related Field

Tools

Accounting software

Microsoft Office Suite

Job description

Description

Company Overview

World Insurance Associates(“World”) is a unique financial services organization with a global network of brokers and specialists who empower people to make informed decisions to improve their risk management outcomes, modernize their benefits programs, and help them achieve their long-term financial goals.

Founded in 2011, World is one of the fastest-growing, Top 25 insurance brokers in the U.S. with nearly 3,000 employees in more than 300 offices across North America and the U.K.

World specializes in personal and commercial insurance, surety and fidelity bonding, employee and executive benefits, investment advisory and retirement plan services, and payroll & HR solutions.

Primary Responsibilities

• Manage the daily operations of producer and broker commission processing including but not limited to:
  
  
  
  • Preparation of statements and communications with internal sales team and external 1099 brokers
  
  
  • Processing of monthly, quarterly, and annual commission payments on a timely and accurate basis
  
  
  • Reconciliation of General Ledger balances with related supporting detail, such as commission statements
  
  
  • Creation and maintenance of schedules to track quantity and timing of payments
  
  
  
  


• Lead, train coach, and develop the Producer & Broker Commissions Payable team.
  
  
  
  • Establish performance expectations, conduct performance evaluations, and support employee development by developing action plans to achieve success
  
  
  • Allocate workload and resources to team members
  
  
  
  


• Enhance Process Improvement and Systems
  
  
  
  • Identify opportunities to automate manual commission processes and improve operational efficiency
  
  
  • Develop and maintain standard operating procedures and process documentation
  
  
  
  

Qualifications

• Bachelor's Degree in Accounting, Insurance, Business, or Related Field Required


• Required Minimum of 5 years' experience in accounting,


• Prior Insurance Industryexperience preferred


• Prior Commission Payable experience preferred


• Required Proficiency in accounting software and Microsoft Office Suite

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 equalopportunityworkplace. 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 accommodationsto knownphysical or mental limitations of an otherwise qualified applicant or employee with a disability, unless the accommodationwould imposean undue hardship on the operation of our business.