Senior Analyst, Producer Commissions & Incentive Payables

World Insurance Associates, LLC.; Woodbridge Township (NJ); Remote; USD 60,000 - 80,000; Full time

Job summary

World Insurance Associates, LLC. seeks a detail-oriented professional specializing in commission management and financial reporting. The role involves reviewing agreements, generating reports, and coordinating with payroll to ensure accurate and timely commission disbursal. Candidates must possess a Bachelor's degree, relevant experience, and strong communication and analytical skills. Join a rapidly growing insurance organization committed to excellence and diversity in the workplace.

Qualifications

• Minimum of 5 years' experience in the accounting or insurance industry.
• Proficient in accounting software and Microsoft Office Suite.
• Strong communication, organizational, and analytical skills.

Responsibilities

• Review producer/client advisor employment agreements.
• Generate monthly reports on commission payments.
• Coordinate with payroll for timely commission payments.

Skills

Accounting

Communication

Analytical skills

Organizational skills

Staff motivation

Education

Bachelor's Degree

Tools

Accounting software

Microsoft Office Suite

Microsoft Office Excel

Job description

Summary
World Insurance Associates is a unique insurance organization offering top products and services from major providers, combined with attentive service from local agents.
Founded in 2011, World is one of fastest-growing top 25 insurance brokers in the U.S. We specialize in personal and commercial insurance lines, surety and bonding, employee benefits, financial and retirement services, and human capital management solutions.

Primary Responsibilities

• Review of producer/client advisor employment agreements to create optimal producer profile parameters
• Ensure proper onboarding and offboarding related to commissions
• Generate monthly reports from agency management systems utilized to track commission payments due to employees, client advisors and/or brokers
• Review monthly reports to ensure rates/calculations are in line with Company standards, broker agreements and/or employment agreements.
• Coordinate completion of necessary corrections to monthly commission statements, including preparation of monthly journal entries
• Coordinate preparation/emailing of individual reports for all payees including managing auto-reports where appropriate
• Prepare quarterly reconciliations of producer draw accounts, including: tracking balances, executing reports, reviewing reports to ensure rates/calculations are in line with Company standards/employment agreements, reconciling to General Ledger, preparing/recording journal entries as needed
• Coordinate with payroll team to ensure timely commission payments
• Field inquiries from commission recipients including coordination of investigation into missing commissions, revised rates, shared business, etc.
• Participate in process of integrating producer/broker commission data generated via acquisitions
• Review producer/broker commissions as reported by acquired agencies prior to full integration into Company’s agency management systems
• Review acquired producers’ & brokers’ book of business after conversion for accuracy of mapping and rates
• Prepare miscellaneous analysis as requested by management including periodic earnout calculations, resettable salary calculations and auditor inquiry responses

Qualifications

• Bachelor's Degree
• Required Minimum of 5 years' experience in accounting, insurance industry
• Required Proficient in accounting software and Microsoft Office Suite or related software
• Proficient in Microsoft Office Excel
• Experience with Applied, Benefit Point and/or NetSuite a plus
• Excellent verbal and written communication skills
• Excellent supervisory and analytical skills
• Excellent organizational skills and attention to detail
• Ability to motivate staff

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 equal opportunity workplace. 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 accommodations to known physical or mental limitations of an otherwise qualified applicant or employee with a disability, unless the accommodation would impose an undue hardship on the operation of our business

TO EXECUTIVE SEARCH FIRMS AND STAFFING AGENCIES:
World does not accept unsolicited resumes from any agencies that have not signed a mutual service agreement. All unsolicited resumes will be considered World’s property, and World will not be obligated to pay a referral fee. This includes resumes submitted directly to Hiring Managers without contacting World’s Human Resources Talent Department.

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