Commissions Analyst (Nationwide Brokerage Solutions)

If you're passionate about helping a Fortune 100 company drive their strategy forward through innovative product development and advancing strategic partnerships to protect customers (and their pets), then Nationwide's Strategy and Corporate Development Office might be the place for you! At Nationwide®, “on your side” goes beyond just words. Our customers are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care.

Nationwide Brokerage Solutions (NBS) cares for customers by making it easier for insurance agents to access a broad range of solutions offered by Nationwide and other carriers. This Commissions Analyst is part of the NBS Operations organization, supporting a critical function of accurate and timely commissions payments to our agency partners.

This opening can be filled in a remote/work-from-home (WFH) capacity or in our Columbus office.  Preferably, the selected hire’s work schedule will be 8:30-5:00pm Eastern or later, to help in providing phone coverage. 

Candidates will have a passion for doing the right thing for our customers, and be curious in learning more efficient ways of doing things. Advanced Excel proficiency (including Pivot Tables and V-Lookups) is required, as is strong attention to detail.  

Prior experience with financial account reconciliation is strongly preferred. Existing familiarity with NBS or other insurance brokerage systems and processes is especially helpful.

Compensation Grade: D2

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Job Description Summary

Our team is a versatile group of individuals, working together to meet the needs of our customers. We value knowledge, strong work ethic and contributing to a stellar team environment. If you thrive in a busy, engaging work environment, we want to know more about you!

As an Analyst, you'll help with commission or sales incentive programs by processing timely and accurate payments for single or multiple lines of business. You will complete simple commission audits and interact with customers to analyze and resolve processing problems. Ensures adherence to both regulatory and internal controls around the processing and payment of commissions.

Job Description

Key Responsibilities:

• Processes commission or sales incentive payments according to provisions established in the commission/sales incentive plan.

• Calculates and enters manual commission or sales incentive entries for products or commission methods not systematically supported (i.e. commission adjustments and chargebacks.)

• Reviews and analyzes commission or sales incentive reports. Works on reconciliation and correction of transactions that error during processing.

• Receives and responds to calls from the sales force and maintains appropriate records of phone conversations.

• Interacts with internal and external customers to analyze and resolve payment inquiries and disputes.

• Helps complete commission or sales incentive audits and communicates results to both internal and external customers.

• Monitors and clears commission and sales incentive suspense in a timely manner. May assist in the preparation of monthly/quarterly commission and sales incentive payment summary reports for management.

• May process commission statement mailings. Match statements to checks and manually stuff envelopes.

• May assist processing complex backdated producer account change requests for one product line.

May perform other responsibilities as assigned.

Reporting Relationships: Reports to Manager.

Typical Skills and Experiences:

Education: Undergraduate degree in business administration, accounting, finance or related field, preferred.

License/Certification/Designation: May be required to be fingerprinted, pass an FBI background check and be associated with Nationwide Securities, LLC as a non-registered individual if not already FINRA registered.

Experience: Typically, two to three years of work experience in customer service and/or financial services.

Knowledge, Skills and Ability: Developing knowledge of commission and/or sales incentive payment processes. Understands commission/sales incentive plan designs (i.e. targets, measures, etc.). Solid understanding of compliance rules. Communicate both orally and in writing and answer questions relating to policies and requirements. Ability to set work priorities and coordinate workflow. Recommend solutions to work processing problems. Can use to use personal computer and related business software.

Other criteria, including leadership skills, competencies and experiences may take precedence.

Staffing exceptions to the above must be approved by the Associate Vice President and Associate Vice President, Human Resources.

Values: Regularly and consistently demonstrates the Nationwide Values.

Job Conditions:

Overtime Eligibility: Non-exempt (Eligible)

Working Conditions: Normal office environment.

ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.

We currently anticipate accepting applications until 10/06/2024. However, we encourage early submissions, as the posting may close sooner if a strong candidate slate is identified before the deadline.

Benefits

We have an array of benefits to fit your needs, including: medical/dental/vision, life insurance, short and long term disability coverage, paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date, nine paid holidays, 8 hours of Lifetime paid time off, 8 hours of Unity Day paid time off, 401(k) with company match, company-paid pension plan, business casual attire, and more. To learn more about the benefits we offer, click here.

Nationwide is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive culture where everyone feels challenged, appreciated, respected and engaged. Nationwide prohibits discrimination and harassment and affords equal employment opportunities to employees and applicants without regard to any characteristic (or classification) protected by applicable law.

This position could be filled within any of the lower 48 U.S. states.

Smoke-Free Iowa Statement: Nationwide Mutual Insurance Company, its affiliates and subsidiaries comply with the Iowa Smokefree Air Act. Smoking is prohibited in all enclosed areas on or around company premises as well as company issued vehicles. The company offers designated smoking areas in which smoking is permitted at each individual location. The Act prohibits retaliation for reporting complaints or violations. For more information on the Iowa Smokefree Air Act, individuals may contact the Smokefree Air Act Helpline at 888-944-2247.

For NY residents please review the following state law information: Notice of Employee Rights, Protections, and Obligations LS740 (ny.gov) https://dol.ny.gov/system/files/documents/2022/02/ls740_1.pdf

Nationwide pays on a geographic-specific salary structure and placement within the actual starting salary range for this position will be determined by a number of factors including the skills, education, training, credentials and experience of the candidate; the scope, complexity and location of the role as well as the cost of labor in the market; and other conditions of employment. If a Sales job, Sales Incentives, based on performance goals are possible in addition to this range.

The national salary range for Commissions Analyst : $42,315.00-$77,400.00

The expected starting salary range for Commissions Analyst : $42,315.00 - $62,400.00

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