Job Description

Your degree in Accounting, Finance or Business Administration as well as:

• Minimum of 5 years experience as a commission/payroll administrator in the financial services industry or equivalent experience in a data processing or business administration management position.
• Prior management position (personnel and processes in a business function) will be a requirement.
• Prior knowledge of Commsplit or Bias, or a proven commissions management system is a plus.
• Fluent in English and Afrikaans (speak, read & write).

would be to your advantage within the following role:

COMMISSION TEAM

• Train, develop, manage and supervise the commissions team.
• Communicate relevant business information to your commission team.
• Manage the onboarding of new, and departure of reigned commission team members and ensure that all systems, access and programs are set-up or closed.
• Plan and assign workflow with HOD for commissions administrators, to ensure accurate and timely completion of daily, weekly, monthly tasks and ad hoc projects.
• Liaise with the finance division on integrated processes and foster a collaborative working relationship between finance and the commission division.
• Ensure effective and ongoing feedback to financial advisors who have queries on commission matters.
• In consultation with the HOD, manage the relationship between the finance, business development and sales divisions for all tasks related to advisor commissions and revenue.
• Manage product provider relationships relating to commission payments, commission receipts, escalated commission queries.

SYSTEM EXPERTISE

• Map new product provider commission statements for automated imports.
• Reduce the number of manual commission statements by engaging with product providers. Manage and maintain login details for all product providers, update the access list on the companys intranet.
• Identify and escalate naming irregularities on commission statements to HOD for corrective measures.
• Report system errors/problems relating to commission operations to HOD for impact assessment, solutions and mitigating procedures. Gain expertise on the commission system and act as reference for system related enquiries.
• Understand the commission calculations behind splits and templates.
• Understand the referral process in order to check commission sharing splits.
• Identify system problems and escalate to HOD.

COMMISSION

• Plan, communicate and manage the commissions processing activities and procedures as per the set deadlines.
• Plan and implement daily, weekly and monthly commission checks.
• Compare, correct and provide feedback on finance reconciliation during payments period.
• Ensure that referral agreements, commission sharing contracts, and or any form of commission split is added to the commission system, set-up correctly and monitored on an ad-hoc basis.
• Liaise with advisors on commission-related queries and discrepancies. Research and resolve commission related inquiries including splits between advisors and referrals, lapses and clawbacks and outstanding MIS documents, as per acceptable turn-around times.
• Document and implement regular receipts of commission statements and payments from product providers, and report non-compliance to HOD before payment dates.
• Take ownership of the commissions receipt and processing, and Invoicing with the finance division, of book acquisition transactions, and conduct regular reconciliations for payments.
• Maintain the orphan clients commission receipts and provide monthly updates.
• Liaise with the Advisor Liaison regarding the book transfer / commission received process (onboarding and resignation).
• Manage the payroll process in line with the pre-set deadlines and payment dates.
• Perform the required checks and balances on all recipients.
• Generate recipient statements from system and distribute 24hours before payment submission (as per pre-set deadlines)
• Deal with queries and request corrections to be attended to immediately o Submit the payroll report to finance.

DATA

• Conduct regular reviews and checks on data being loaded/imported by the commission team to ensure data integrity is maintained.
• Implement any ad hoc data clean-up actions or any other projects required with the commission administrators for timeous implementation.
• Manage the outstanding client information project on an ongoing basis and liaise with financial advisors and the business development team on this project to maintain client data.
• Dashboards keep abreast of advisor information and ensure that commission team is aware of what the advisor sees and receives.

REPORTING

• AUA: Ensure timeous monthly AUA import files are received from all product providers. Report must be completed by the 20th / month (for the previous month).
• Branch production reports: Completed by the 10th for payroll deadline the 15th
• Wealth Planner Productions Reports: Completed and distributed before payment date (finance division to calculate PAYE prior to distribution)
• New Business Register: Culture Club requires this by the 12th .
• Client transfer reports: As and when required.
• Production Reports: As and when required

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