Commission Associate

Overview

At Banner Life Insurance Company, we lead with heart and ambition. Every day, we transform purpose into progress, guided by our unwavering commitment to be better for our customers, clients, and communities, not just today but long-term as well. Our people are the driving force behind everything we achieve. Their passion, purpose, and pursuit of innovation empower us to deliver cutting-edge solutions that support those we serve, ensuring we are here for you, here for good and striving for better.

 

We’re a forward-thinking company energized by our work and how we show up for one another. Our culture is built on meaningful impact and genuine enjoyment, because we believe great work and great experiences should go hand in hand.

By offering career development opportunities, comprehensive benefits, and programs that support your wellbeing, we help you thrive personally and professionally. We are here for you, here for good and here for better.

 

The Commission Associate will deliver prompt, accurate and courteous service by handling verbal and written inquiries for general agencies and other Banner Life departments concerning Commissions.

Responsibilities

Review daily commission activity including payment listings and error reports. Audit random records for accuracy. Research amounts that require management approval and verify their accuracy. Report results to management daily. Prepare checks and EFT payments for distribution to agencies.

Research and respond to agency compensation related requests such as confirmation of payment dates, rates of commission, hierarchy records and stop payment requests. Coordinate corrections with Administrative Services Unit and Finance Department staff. Communicate result to agency staff. Prepare and submit for approval appropriate check requisitions and other administrative forms to ensure correct and timely payments or compensation adjustments.

Maintain records of tax levies, social services required income withholdings, escheat accounts and other required commission monitoring. Set up payment amounts and dates according to standard, draft correspondence to impacted broker and government agency upon set up, payment and release.

Review and verify 1099 MISC reporting records for accuracy and process corrections as needed.

Research agency/broker debit balances, determine accuracy and develop documentation in support of the balance due. Maintain agent debt management file and record payments received, collection agency fees and legal expenses. Respond to broker inquiries and correspond with collection agency.

Record daily task activity and maintain record tables for processing issues.

Complete special projects and provide administrative support to other business areas as directed by management.

Process monthly suspense report- verify if funds need to be paid to an agent and balance out report for Finance.

Prepare correspondence, emails, letters, memos, reports.

Review, prepare and distribute bonus reports.

Complete special projects and provide administrative support to other business areas as directed by management.

Qualifications

Education  

High School diploma or equivalent

Some college preferred

   

Experience/Knowledge

2+ administrative/customer support experience

 

Skills  

Client service/phone handling

Ability to problem solve and analyze commission statements

Computer knowledge - ability to create, edit, retrieve, save, and print

Ability to learn new software

Knowledge of Microsoft Office (Word, Excel, PowerPoint, Outlook & Access)

 

What’s in it for you?

 

The expected hiring compensation range for this position is $49,500 - $59,400 annually. This position is a hybrid role, reporting into our  Frederick, MD office three times per week.

 

The total compensation package for this position may include other elements, such as a sign-on bonus, long term incentives, and annual bonuses.  This role is eligible to participate in the Annual Incentive Plan. The current target payment for the position is 3% of base salary, modified for corporate and individual performance. Bonuses are pro-rated based on start date.  This role has 10 vacation days and 10 sick days that are accrued on a bi-weekly basis. Employees also have 9 paid holidays throughout the calendar year.

 

We have a competitive compensation and benefits package focused on your overall wellbeing.  Employee benefits include health, life, and dental insurance; 401K with company match up to 6% as well as a pension package; generous time off; and wellbeing initiatives throughout the year (we like doing fun stuff).  We’re big on professional development and we’ll support and mentor you in your career progression and expect you to help us pay it forward by helping us develop tomorrow's leaders and growth-focused professionals. We value our teams and our communities and believe in giving back. Enjoy time off to volunteer for those causes that matter most to you!

 

If hired, employee will be in an “at-will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors. The Company reserves the right to change benefits plans at any time.

 

We are an equal opportunity employer and value diversity at our company. We do not discriminate based on race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. Please contact us to request accommodation.