The Commissions Manager supervises and oversees daily commission processing activities, system output review and customer inquiries. Adheres to critical deadlines while providing a high level of customer services to our network of independent investment professionals.
Job Responsibilities/Main Functions
Supervises and oversees daily commission processing activities, system output review and customer inquiries.
Poses a deep understanding of brokerage and advisory incentive models and the underlying business drivers.
Schedules, assigns, and oversees the team's work. Develops a framework to ensure robust backup capabilities and fosters cross-functional knowledge within the commissions team.
Implements and manages commissions arrangements in accordance with business agreements. Creates controls and reviews guidelines for new programs and ensures staff has the knowledge and resources to execute the programs effectively.
Reviews complex and high-value commission transactions for accuracy. Analyzes trends and develops processes to effectively monitor commission activities and their impacts.
Monitors exception requests for consistency, fairness and errors addressing root causes for future improvements.
Analyzes multiple data sources to ensure commission systems are current and compliant with brokerage and advisory records.
Generates monthly and quarterly commissions reports. Utilizes data mining and business intelligence tools to extract, transform, and visualize data for reporting purposes.
Collaborates with the Revenue Management and Finance departments to design and model new commission plans.
Partner with Relationship Managers to expedite billing errors corrections for Investment Professionals.
Serves as a subject matter expert on commission systems and processes, understanding their interactions and impacts on other areas of the company.
Operates with a client service mindset, acting as a liaison between the company and independent investment professionals to assist them in navigating the commission system and resolving any commission-related issues.
Identifies opportunities to reduce expenses and maximize efficiency through process improvements. Coaches the team and collaborates with staff to propose and implement these enhancements.
Recruits, hires, trains, and develops staff, providing clear direction and ongoing support. Guides associates through daily coaching, administers the Performance Management Program, and creates and implements development plans to foster their growth.
Establish and maintain a comprehensive Policy and Procedure guidebook to ensure business continuity.
Performs other functions and special projects as assigned by senior management.
Job Requirements (Education and Experience)
Bachelor's degree in accounting, finance, business administration or related field. Post graduate studies in Data Analytics a plus.
Minimum eight (8) years of work experience in commission or sales incentive administration within the financial services industry; including management supervision experience.
Job Competencies (Knowledge, Skills, and Capabilities)
Prior experience working in a securities broker dealer or investment advisory institution.
Strong technical and analytical skills, including advanced modeling in Excel, Power BI, and Visual Basics.
Proficiency in SQL or other related programs for data extraction and manipulation.
Strong quantitative, analytical, and problem-solving skills.
Exceptional attention to detail and follow-through.
Ability to work independently, prioritize tasks, and meet deadlines in a fast-paced environment.