Field Contracting Compensation Administrator


Field Contracting Compensation Administrator

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Job Position: Field Contracting Compensation Administrator

Company: Equitable Life of Canada

Expected salary:

Location: Waterloo, ON

Field Contracting Compensation Administrator Job Details:

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At Equitable, we realize that your work life is not just about performing a job; it’s about being part of a workplace that helps you grow and reach your full potential. Within our friendly and collaborative work environment, we recognize that the key to our growth and success is a dedicated, motivated and client-responsive staff. Join Equitable today.

Position Title: Field Contracting Compensation Administrator

Reports To: Supervisor, Producer Administration

Department: Individual
Term: Temporary Full-Time, Eighteen (18) Month Contract

Work Arrangements: This is a hybrid role. You will work in our office in Waterloo, ON a minimum of two (2) assigned, consecutive days every other week, plus a fifth (5th) assigned day per month. You are welcome to work from the office more than the minimum requirement and there may be some roles that are required to work in our office more than the minimum requirement.

The Opportunity: 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.

What you will be doing:

  • Processing of daily and weekly payments, administration of ad hoc payments, holds and adjustments; additional pay related tasks as required
  • Reviewing of applications received for Advisor/MGA contracting to ensure required information is accurately provided; includes follow up on outstanding requirements as needed
  • 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

What you will bring:

  • Post Secondary education in an Accounting program (Loma courses are an asset)
  • Knowledge of Advisor/MGA commissions, contracting and compliance 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
  • 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

What’s in it for you:

  • A healthy work-life balance with employee wellness top of mind
  • Annual bonus program, annual vacation allowance, and company-paid benefits program
  • An additional paid volunteer day each year so you can spend time giving back to the community
  • Immediate enrollment in the company’s pension program with employer matching
  • Employee resource groups that support an inclusive work environment
  • Tuition support and specialized program assistance
  • A company subsidized cafeteria with a variety of daily options
  • Discounts on company products and services, and access to exclusive employee perks
  • Regular EQ Together events focused on company togetherness and collaboration

As part of the recruitment/offer process you will be required to:

  • Provide two professional references (minimum one supervisor and above)

To learn more about Equitable, we encourage you to explore our organization.

At Equitable, we are committed to providing equal access to employment opportunities across our organization. Please contact our HR team at [email protected] if you would like to receive our job postings in an alternative format or require an accommodation with the application process.

#LI-Hybrid

How to Apply?

If you believe you’re a great fit for the role of Field Contracting Compensation Administrator Apply Now!

Also, Check out More Field Contracting Compensation Administrator Vacancies in Canada.

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