Commission Analysis Specialist

1 week ago


Hartford, Connecticut, United States Covr Financial Technologies Full time
Job Overview

Position Title: Sales Commission Analyst

REPORTS TO: Chief Financial Officer

DEPARTMENT: Finance

FLSA STATUS: Exempt

WORK SCHEDULE: Hybrid model with flexibility for remote work

COMPANY INTRODUCTION:
Covr Financial Technologies is dedicated to simplifying the protection of what matters most in life. As a forward-thinking player in a dynamic industry, we leverage technology to provide an efficient and user-friendly platform for insurance solutions. Our partnerships with financial institutions and advisors enable clients to easily research, compare, and purchase insurance online within minutes. Our office is located in a vibrant area, and we promote a relaxed work environment with flexible hours and engaging team activities.

CULTURE AND VALUES:
We pride ourselves on a strong organizational culture rooted in our core values: Client First, Integrity, Innovation, Collaboration, and Fun.

POSITION SUMMARY:
The Sales Commission Analyst is a newly established role within our expanding team. Reporting directly to the CFO, this position is essential for managing and analyzing commission structures and ensuring accuracy in commission payments.

KEY RESPONSIBILITIES:

  • Develop a comprehensive understanding of Covr's commission structures.
  • Generate reports and validate commissions disbursed for each client.
  • Reconcile actual commissions received against anticipated amounts.
  • Maintain and update commission schedules.
  • Support the Senior Commissions Analyst in configuring and adjusting special commission arrangements.
  • Monitor outstanding balances and collaborate with the Senior Commissions Analyst for resolution.
  • Prepare and distribute commission payments to agents.
  • Engage with carriers to address and resolve discrepancies in commission expectations.
  • Calculate and compile batch commission statements for external payments.
  • Provide responses to commission-related inquiries from Covr employees.
  • Address client requests for information regarding commission payments.
  • Create financial models based on analysis to aid organizational decision-making.
  • Prepare financial reports and plans for leadership review.
  • Examine industry trends and offer recommendations based on findings.
  • Develop automated reporting and forecasting tools to enhance data utilization.
  • Perform additional related duties as required.

QUALIFICATIONS:
Education and Experience:

  • Bachelor's degree in Accounting, Finance, or a related field is preferred.
  • Experience in the insurance sector is advantageous.
  • A minimum of 2 years in accounting, auditing, or commission analysis, or a valid CPA certification with at least one year of relevant experience in a fast-paced setting.

SKILLS AND KNOWLEDGE:

  • Proficient in Excel, including pivot tables and VLOOKUP functions.
  • Experience with commission processing systems is essential.
  • Strong verbal and written communication abilities.
  • Excellent mathematical skills.
  • Meticulous attention to detail and organizational skills.
  • Familiarity with Generally Accepted Accounting Principles (GAAP) is a plus.
  • Understanding of Generally Accepted Auditing Standards is beneficial.

BENEFITS:
We offer a competitive benefits package that includes:

  • Paid Time Off (PTO): Starting at 3 weeks, increasing with tenure.
  • Paid holidays: 11 days annually.
  • Medical, Dental, and Vision coverage: 80% of premiums covered for full-time employees.
  • Health Savings Account (HSA) with quarterly contributions from the company.
  • Short-Term and Long-Term Disability coverage.
  • 401(k) plan with company matching.
  • Company-paid Life and AD&D insurance for all full-time employees.

Covr Financial Technologies is an equal opportunity employer and values diversity in our workforce. We encourage applications from all qualified individuals, including those with diverse backgrounds and disabilities.



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