Commission Specialist

IFS Financial Services, a subsidiary of Western & Southern Financial Group, has an immediate opportunity for a Commission Specialist.

 

Company Description:

Established in 1991 and now one of Western & Southern Financial Group's key growth engines, IFS Financial Services, Inc. (IFS), complements the goals of the organization by successfully diversifying earnings, products and distribution channels. IFS consists of three core revenue-generating business units ? W&S Financial Group Distributors, Inc. (Annuity Distributor); Touchstone; and Integrated Fund Services, Inc.

 

With more than 5,000 associates and more than 50,000 individuals in our selling group, Western & Southern Financial Group, a Fortune 500 organization, offers consumers and businesses the financial products and services they require to meet their insurance needs and investment goals. Having reached more than $39 billion in assets owned and under management, we are leveraging our unmatched financial strength to fuel impressive growth through strategic acquisitions, increases in our current product revenue stream and expansion into new channels and businesses. 

 

Western and Southern Financial Group offers a host of benefits including, medical, dental, life, pension, 401K, free fitness facility, on-site cafeteria, heavily subsidized parking. W&SFG promotes a stable, fulfilling and challenging environment with an emphasis on excellence and continued career development.

 

Position Description:

 

Calculate and analyze commissions for multiple Western & Southern Financial Group Business Units requiring an in depth understanding of the B/D commission structures and multiple bank agreements. Responsible for the analysis of commission items with impacts to commission exceptions and adjustment processing. Serves as a back up for critical functions of two other commission desks to also include items from the Supervisors desk. Act as the primary point of contact from the various Sales Desks for commission issues requiring more detailed research. Requires the calculation of Internal Commissions for multiple business units. Completes special projects as requested and responds to accounting inquiries from both external and internal parties. Possesses the freedom to act within standards.

 

Responsibilities:

 

? Process weekly commission payments, review weekly statements, verify checks and release payment to agents and distributors for Integrity Business.

? Assist Licensing department as needed with inquiries from agents, distributors and internal customers regarding commission, contracting and licensing.

? Manually calculates and analyze sales reports and processes BD commissions for Touchstone Securities which requires direct contact with the President of Touchstone to verify confidential data pertaining to commission payments.

? Responsible for the accurate and timely calculations of IFS Associate Commissions within the Bank Channel. Requires detailed comparisons to previous quarter payouts for accuracy and review of any unusual swings in activity.

? Works closely with department heads to understand new bank agreements put in place prior to completing bank commission calculations

? Processes variable annuity commissions for payment of client commissions and Employee VA Trail commissions.

? Assist in the reconciliation of commission related general ledger accounts and the balancing of all commission related interface activity.  Verify all commission related transactions have interfaced correctly to the general ledger to ensure accurate reporting

? Calculates and analyze BD Accrual for Touchstone Securities

? Manually Calculates Bank Special Pay, which requires a detailed comparison to previous quarters letters. Completes Bank Special Pay Accrual as needed.

? Resolves commission issues, questions and complaints by telephone or written correspondence through gathering, researching and analyzing policy information. 

? Complete quality assurance projects including workflow and procedure redesign, system testing, implementation of marketing promotions and other projects as assigned which serve to enhance customer value

? Serves as a backup for critical functions of the other two desks in Commissions as well as special project items from the Supervisors desk.

? Provides prompt and accurate customer service to internal customers so that departments understand rules and correctly provide data for commissions

? Interacts with managers, senior officers, affiliated companies and the parent company on various Commission issues.

? Works independently with minimal supervision and is responsible for making an established range of decisions, escalating to management when necessary.

? Provides feedback for automating and streamlining Commission processes while maintaining the integrity and usefulness of such processes

? Performs other duties as assigned by management

? Manually Analyze and Calculate the DWS Territory of FWBS Commission Processing

? Calculate & Process of National Acct. Manager Commission for Touchstone

 

 

Requirements:

 

? Demonstrated successful experience working with commissions 

? Proven experience managing multiple priorities within a fast paced environment

? Must be able to work independently and as a team player

? Must be able to cite examples from work experience on identifying complex issues

? Must be able to cite examples of self-motivation and experience working under limited supervision

? Demonstrates initiative and a strong sense of urgency.  Possesses sense of importance to respond timely and accurately to inquiries from both internal and external customers

? Possesses strong understanding of business math and is comfortable working with numbers 

? Possesses excellent organizational skills 

? Proven ability to grasp new products, concepts and procedures

? Must provide examples of handling difficult situations while maintaining productive working relationships

? Successful relationship builder with a take charge commitment to getting the job done

? Demonstrated experience giving effective feedback to teammates 

? Demonstrates good verbal and written communication skills

? Proven experience in dealing with various levels of management including senior officers 

? Demonstrated experience successfully handling confidential information 

 

 

 

Interested professionals should apply online, including salary requirements, at http://careers.peopleclick.com/Client_WesternSouthern/BU1/External_Pages/NewCandidate.asp?JobID=696&Source=Monster