Employee Benefits Fees And Commissions Accountant / Financial Analyst

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 insurance brokers in the U.S. with over 2,200 employees in over 210 offices across North America. We specialize in personal and commercial insurance lines, surety and bonding, Employee Benefits, financial and retirement services, and human capital management solutions.

Our rapid growth and market leading presence has created opportunities throughout the state and we offer top talent the choice to work from one of our multiple offices throughout the region.

Overview:

This role contributes to a wide variety of complex projects involving the ongoing management of our health and benefit policies’ commissions and fees. In addition to other critical accounting functions, this role provides an excellent opportunity to utilize your financial, analytical, and problem-solving skills to manage and build enhanced operational processes for accurate monthly financial posting and reporting. As the primary point of contact for managing and tracking commissions and fees, this role interacts with many associates within our business, including benefits advisors, client mangers, operations leadership and accounting/finance and helps develop and maintain data accuracy and integrity to maximize month end financials and reporting.

Location:

Our rapid growth and market leading presence has created opportunities throughout the country and we offer top talent the choice to work from one of our multiple offices throughout the region, or to work fully remote.

Essential Duties and Responsibilities:

In collaboration with Accounting and Operational Leadership, materially contribute to core commission and fee processes and special projects that support the policy management of our health and benefit plans.

Responsibilities include:

• Create and manage shared services team of Health & Benefits Fee and Commission Specialist.
• Create structure, model, and processes to execute across all EB offices around Fees and Commissions activities and variance.
• Cash management: track commissions posted; reconcile against anticipated, conduct audits, run variance reports to support cash management; collaborate with internal teams or external carriers to validate payments/collect monies due.
• Policy management: assist client management team with reviewing and/or correcting estimated premium/commission and commission splits and production credit. Guide users in responding to direct bill activities for timely resolution. Renew and update nonservice PEO and third-party brokerage policies.
• Fee Agreements: Assist in reviewing client fee agreements, review for terms; process fee agreement invoices per terms of agreement; assure correct set-up and processing within agency management systems.
• Carrier payments: Research missing payments and reach out to carriers to obtain and clarify carrier statements for review of proper payment and reconciliation; review unreconciled revenue based on unidentified receipts/statements.
• Review premium and commission estimates in agency management system, tracing against direct bill posting records. Research discrepancies and/or misapplied revenue. Run and review reports for data accuracy.
• Assist operations and leadership in quarterly and annual review of revenue and expense estimates for accurate forecasting, including summarizing YOY revenue variances and root cause.
• Coordinate with accounting/finance and /or operations on all transactional tasks, including fielding all questions relating to policy and cash management.
• As necessary, assist in coordinating and resolving agency and carrier licensing issues and/or tracking carrier revenue.

Minimum Qualifications, Education and/or Experience:

• 8+ years’ experience in an accounting function, ideally within a national benefits consulting/brokerage firm or similar function of an insurance company with Employee Benefits knowledge.
• Well organized and detail oriented; ability to manage multiple projects with competing deadlines.
• Organized self-starter attitude and ability to work independently and as part of a team.
• Critical thinking, analytical, and problem-solving skills
• Strong written and verbal communication skills
• Advanced Microsoft Office skills, particularly in Excel

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.

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