Senior Field Contracting Compensation Administrator

Equitable•Waterloo, ON

11d•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. If you're looking for purpose-driven work in a collaborative and inclusive environment where your voice is heard, and your growth is encouraged we’d love to connect. We are looking for a Senior Field Contracting Compensation Administrator to join our Individual Insurance team! Join one of the region’s top employers and be part of something that truly makes a difference.

Requirements

Post Secondary education
Knowledge of Advisor/MGA commissions, contracting and compliance
Analytical thinker who enjoys working with numbers, basic bookkeeping knowledge
Ability to thrive in a fast-paced environment while working with tight deadlines and multiple priorities
Superior customer service etiquette paired with strong verbal and written communication skills
Strong computer skills, proficiency in Windows including Word and Excel
Ability to support team goals and targets combined with ability to work independently

Nice To Haves

LOMA courses an asset

Responsibilities

Process daily and weekly payments, administer of ad hoc payments, holds and adjustments; additional pay related tasks as required
Review all applications received for Advisor/MGA contracting to ensure required information is accurately provided; includes follow up on outstanding requirements as needed
Timely investigation and responses to all commission and contracting related inquiries received via email and phone
Process new contract applications and amend existing contract information on the Fasat System for MGAs, AGAs, Firms, Advisors, Wholesalers, Branches and Regions
Adhere to regulations for Licensing, Sponsorship and Terminations as stipulated by Provincial Insurance Councils to mitigate penalties of fines and lawsuits to the Company
Identify, resolve and/or escalate urgent and complex situations as required; take ownership of their resolution and communications with the Advisor/MGA/AGA/Firm
Host phone calls/meetings with Advisors/MGAs/AGAs/Firms as needed
Adhere to contracting, compliance and privacy rules for ordering, reviewing and interpreting credit reports and other industry reports
Process Agent of Record Changes and Block Transfers on Life and Annuity policies on Fasat, Ingenium, Unitrax and Vax, collection of transfer fees and processing journal entries for each
Process all unprocessed activities, as well as all override changes, banking and pay instruction changes
Update initial and renewal Licenses and E&O information for MGAs, Advisors, and Wholesales
Process all 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
Help with EquiNet users regarding compensation and contracting inquiries
Daily maintenance of dashboard information
Subject matter expert responsible to work with all the development teams for testing and implementation of new projects.
Update and train the team on any new or updated process.
Process support – will be responsible for reviewing all current processes for potential improvements
Maintain all training documentation and ensure processes are up to date on SharePoint
Review and action quality audits results for the team and scale any trends to Manager.
Responsible for compliance audit of WFG contracts
Other duties to support Supervisor, Advisor care may included but not limited to workload, daily stats, commission schedules, escalations and adhoc requests