Sr. Financial Analyst, Commission Lead
Location: New York, New York
Job Type: Full time
Who We Are
We’re NFP, a five-time Best Places to Work award winner in Business Insurance for 2017, 2018, 2019, 2020 and 2021. We are also recognized as an Elite 2018 Agency award winner named as a Top Employee Benefits Firm. We are a leading Insurance Broker and Consultant that provides Employee Benefits, Property & Casualty, and Retirement and Individual Private Client solutions to help our clients reach and realize their goals because we believe business is personal. Our personal commitment to our team and our clients have created long-lasting and successful relationships across our growing 300+ nationwide offices and 17 international locations. To learn more, please visit: https://www.nfp.com/
The Role at NFP
The Financial Analyst will be responsible for the administration and execution of the Region’s sales compensation process. The position will work closely with Regional leadership to develop sound practices around producer compensation and will interact with all levels within the organization (accounting, sales, operations, technology, M&A, legal) to ensure proper implementation of sales/commission compensation.
DUTIES AND RESPONSIBILITIES:
- Inventory and document all of the region’s various sales pay practices
- Ensure that correct commission structures are configured properly in the system of record
- Coordinate monthly commission schedules distributed to producers
- Calculate monthly commission true-up amounts
- Work with HR to ensure true-up payments are properly executed
- Coordinate producer deficit reporting and management
- Complete timely Draw adequacy reviews
- Track validating producers and coordinate changes to comp
- Complete ad-hoc analysis including impacts on comp standardization at the individual level
- Coordinate all commission changes in the system of record
- Field questions from Sales Professionals, research their queries, and resolve disputes
- Coordinate proper system configuration of sales commissions on acquisitions and system conversions
- Coordinate offline referral commissions to non-sales personnel with Accounting Managers/HR as needed
- Audit the system periodically for changes to “Threshold” accounts
- Prepare monthly Producer commission reporting for management including summary of producer commissions, deficit reporting, validating producer list, draw review, etc.
- Compile various other analyses for management review on a periodic basis
- Assist Finance with various analyses pertaining to sales compensation for monthly reporting or budgeting
- Maintain customer confidence and protect operations by keeping financial information confidential
- Contribute to team effort by accomplishing related results as needed
- Performs other duties as assigned.
EDUCATION and/or EXPERIENCE:
- Bachelor’s degree required. Finance or Accounting focus a plus
- Prior experience with corporate or business unit financial leadership.
- A minimum of 3 years finance and accounting experience in a rapidly growing organization.
- Experience in a continuous improvement, highly collaborative and matrixed organization with the ability to lead process improvement and affect change.
- Insurance brokerage experience is highly preferred but not required.
- Experience utilizing, querying, and researching in a sales/commission driven operating system
KNOWLEDGE, SKILLS, and ABILITIES:
- Strong Communication skills
- Ability to effectively and professionally present financial information to leadership.
- Demonstrated ability to learn the business and have a business and customer centric approach to finance and accounting leadership.
- Ability to collaborate and develop strong relationships with all levels of personnel within the organization.
- Demonstrated ability to identify and evaluate complex business problems and provide well thought out solutions.
- Strong interpersonal, employee engagement and performance management skills.
- Must be a well-organized, self-starter who can effectively articulate business plans and deliver results.
- Must possess personal and business integrity with an energetic style demonstrated by a positive attitude and a strong work ethic.
What We Offer
NFP is proud to offer a competitive salary, PTO & paid holidays, 401(k) with match, exclusive discount programs, health & wellness programs, and more. Our PeopleFirst culture focuses on building and nurturing lifelong relationships with our employees because, at the end of the day, we exist to be there for others.
NFP and You... Better. Together.
NFP is an inclusive Equal Employment Opportunity employer.