Prosperity Service Group, LLC is seeking to hire a Manager of Commissions and Licensing Administration for our Roanoke, VA or New York, NY office.
Ensuring that appropriate procedures are in place and appropriately enforced in appointing agents and agencies is critical to ensuring that all state regulations are followed and Prosperity is sufficiently protected against financial loss due to agents’ debit balances. This position ensures that all internal and state guidelines are strictly followed with respect to agent contracting, agent appointments, commission payments, agent license renewals and agent terminations. In addition, this position ensures the accomplishment of proper expense management around agent license and appointment renewals through timely termination of inactive agents. Strong communication skills, oral and written, and demonstrated knowledge of insurance and licensing requirements in all states where Prosperity writes business are prerequisites for this position.
Essential Duties and Responsibilities
- Ensure that appropriate licensing and contracting procedures, which are designed to ensure compliance with each state’s requirements and to protect Prosperity against financial loss, are in place and followed during the appointment process.
- During the appointment process, interface with Marketing as necessary to ensure that its intentions are understood in regard to who Prosperity should be appointing, and interface with Benchmark and Legal/Compliance as necessary to ensure that appropriate appointment documentation is completed and filed. This includes ensuring that appropriate signatures are obtained from appointed agents and contracted agencies which includes from their principal stockholders, partners or members; and, in the case of contracted agencies, ensuring that these principal stockholders, partners or members have indicated their percentage ownership and have signed Personal Guarantees.
- Assist with the implementation of Prosperity’s debit balance policies and procedures, including ensuring that terminated agents with debit balances are reported to Vector timely and in compliance with Vector requirements.
- Assist with debt collections from terminated agents.
- Assist in the review of daily commission payments and work with Benchmark to resolve issues in a timely manner.
- Respond to agents’ inquiries regarding commission/advance payments.
- Assist in the testing of commissions calculations associated with the introduction of new products and as additional products are added to the Benchmark portal.
- Act as a primary liaison between Prosperity and the states for communications regarding agents’ appointment/license renewals and terminations.
- Ensure that knowledge of state specific appointment/licensing requirements is maintained for all states where Prosperity currently does business and enhanced as appropriate as Prosperity adds new products, new distribution, etc.
- Act in a liaison capacity between Prosperity and Benchmark to ensure that terminated agent licenses/ appointments, whether initiated by the state or the agent, are communicated to Benchmark in a timely manner. This includes ensuring all terminated licenses/appointments are updated in LSP.
- Develop/implement a process to effectively track agent appointment renewals. This may involve working with an outside vendor (Benchmark) to create automation where possible. This involves terminating inactive agents’ appointments prior to the billing period as a proactive way of reducing cost.
- Review LSP reports on a monthly basis to ensure that expiring agents’ licenses/appointments are updated in LSP on a timely basis.
- Communicate agent terminations to Benchmark and provide oversight that terminations are processed timely at Benchmark and that LSP is updated for terminated agents.
- Assist with other treasury related duties such as in regard to the processing of money movements.
- All other duties as assigned to support organizational goals and objectives.
This job currently does not have supervisory responsibilities.
- To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Work requires the ability to read and comprehend simple instructions, short correspondence, and memos. The ability to write simple correspondence and the ability to effectively present information in one-on-one and small group situations to customers, clients, and other employees of the company is a must.
- Work requires the use of basic mathematics (addition, subtraction, multiplications, and division) to perform job duties.
- Learning and applying new skills, using technology to increase productivity, implementing changes to improve performance, adapting to changes in the work environment, and supporting the achievement of team, department and company goals.
- Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. Ability to solve problems by selecting the solution from several alternatives that already exist. Ability to arrive at a solution through weighing the advantages of the alternatives.
Education and/or Experience
High school diploma or equivalent combination of education and experience required. A minimum of two years customer service/administrative related experience in a fast paced service industry and knowledge of insurance industry agent licensing and contracting. Experience in job functions requiring proficiency and accuracy in maintaining and administering computer system databases.
MS Word and Excel spreadsheet skills are required. Must have excellent customer service skills. Must be self-motivated and have the ability to work effectively on multiple diverse tasks simultaneously.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this Job, the employee is regularly required to sit; use hands to finger, handle, or feel and talk or hear. The employee is frequently required to reach with hands and arms. The employee is occasionally required to stand and walk. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision and distance vision.
This position is a full-time salaried exempt position. The weekly salary for this position is intended to provide compensation for all hours worked in a workweek, including all hours worked beyond 40 in a workweek, regardless of the degree to which those hours may fluctuate on a week-to-week basis.
To apply, send resume to [email protected] reference HR Job #0315-19