Field Contracting Compensation Administrator

The Opportunity: As the Field Contracting Compensation Administrator, you will be responsible for investigating, responding, and completing contracting and compensation related inquiries and transactions for the Producer, AGA and MGA Individual Life and Annuity network. You will also play a key role in managing daily/weekly payment processing, including exceptions, garnishments and debt allowances while ensuring exemplary attention to detail and accuracy while overseeing financial administration.Position Title: Field Contracting Compensation AdministratorReports To: Manager, Advisor Care Department: Individual InsuranceTerm: Permanent Full-TimeWork Arrangements: This is a hybrid role. You will work in our office in Waterloo, ON a minimum of two (2) assigned, consecutive days every other week, plus a fifth (5th) assigned day per month. You are welcome to work from the office more than the minimum requirement and there may be some roles that are required to work in our office more than the minimum requirement. What you will be doing:

Reviewing of applications received for Advisor/MGA contracting to ensure required information is accurately provided; includes follow up on outstanding requirements as needed
Processing of daily and weekly payments, administration of ad hoc payments, holds and adjustments; additional pay related tasks as required
Timely investigation and response to commission and contracting related inquiries received via email and phone
Processing new contract applications, amending existing contract information on the Fasat System for MGAs, AGAs, Producer Groups, Producers, Field Managers, Branches and Regions
Adherence to regulations for Licensing, Sponsorship and Terminations as stipulated by Provincial Insurance Councils to mitigate penalties of fines and lawsuits to the Company
Ability to identify and escalate urgent and complex situations as required
Adherence to contracting, compliance and privacy rules for ordering, reviewing and interpreting credit reports and other industry reports
Processing Agent of Record Changes and Block Transfers on Life and Annuity policies on Fasat, Ingenium and Vax, collection of transfer fees and processing journal entries for each
Processing unprocessed activities, as well as all override changes, banking and pay instruction changes
Update initial and renewal Licenses and E&O information for MGAs, Producers and Field Managers
Process terminations on Fasat as directed by EL Compliance Officer, Insurance Councils, MGAs
Process month-end reconciliations and journal entries, process year end payroll activities including tax related transactions
Provide assistance for Equinet users regarding compensation inquiries
Daily maintenance of dashboard information

What you will bring:

Post Secondary education in an Accounting program (LOMA courses are an asset)
Working knowledge and experience of Advisor/MGA commission, licensing and contracting requirements and process
Compliance knowledge related to Advisor/MGA commission, licensing and contracting would be an asset
Analytical mindset; we are looking for someone who enjoys working with numbers and has basic bookkeeping knowledge
Ability to thrive in a fast-paced environment while working independently with tight deadlines and multiple priorities
Superior customer service etiquette paired with strong verbal and written communication skills; a willingness to engage with Advisors/MGAs in a telephone or meeting capacity
Strong computer skills, proficiency in Microsoft 360 including Word and Excel; OnBase, FASAT & Ingenium would also be an asset
Ability to support team goals and targets combined with ability to work independently
Key attention to detail and a focus on maintaining accuracy

 What's in it for you:

A healthy work-life balance with employee wellness top of mind
Annual bonus program, annual vacation allowance, and company-paid benefits program
An additional paid volunteer day each year so you can spend time giving back to the community
Immediate enrollment in the company's pension program with employer matching
Employee resource groups that support an inclusive work environment
Tuition support and specialized program assistance
A company subsidized cafeteria with a variety of daily options
Discounts on company products and services, and access to exclusive employee perks
Regular EQ Together events focused on company togetherness and collaboration

As part of the recruitment process, candidates may be asked to complete an assessment and will be required to undergo background screening, in accordance with company policy.
 
At Equitable, we're committed to fair pay and an inclusive, accessible hiring experience. If you need accommodations or alternative formats at any stage, just reach out to us at , we're happy to help.
Your base pay will be based on your skills, qualifications, experience, and education. In addition to your salary, this role is eligible for a discretionary annual incentive award tied to business performance, plus a wide range of competitive benefits.
If you're selected to move forward, our Talent Acquisition team will walk you through all the details of our total rewards program, so you know exactly what's included.

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