Field Contracting Compensation Administrator

Equitable•Waterloo, ON

7d•CA$50,000 - CA$55,000•Hybrid

About The Position

At Equitable, we believe work should be a place where you feel supported, inspired, and empowered to grow. In our caring and collaborative environment, your curiosity is encouraged, your passion is recognized, and your contributions truly matter. Together, we create meaningful impact, for our clients, our communities, and each other. The Opportunity: At Equitable, we believe great things happen when we work together. We’re a Canadian mutual company driven by purpose - putting people first and helping Canadians protect today and prepare for tomorrow. If you’re passionate about making a difference and growing your career in an inclusive and collaborative environment, we’d love to hear from you. Our culture is built on care, passion and curiosity. We put people above all else, strive to be our best and welcome new ideas to deliver positive outcomes. 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. Join one of the region’s top employers and be part of something that truly makes a difference.

Requirements

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

Nice To Haves

LOMA courses are an asset
Compliance knowledge related to Advisor/MGA commission, licensing and contracting would be an asset
OnBase, FASAT & Ingenium would also be an asset

Responsibilities

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