Sr. Field Compensation Specialist (Texas, Austin) - National Western Life Insurance Company

Job Summary

Agency ensures that agents are properly contracted, licensed, and appointed to conduct business on behalf of NWL. The department ensures that agents are paid commissions and bonuses in accordance with their agent contracts and Company guidelines. The department ensures that agents are terminated in accordance with states regulations and Company guidelines and that debts due the Company from agents are collected.

Essential Functions

• The Sr. Field Compensation Specialist is able to perform with minimal level of supervision.
• Review and approve agent commission EFT transmission.
• Responsible for the Debt Collection process including setting up debt repayment plans, collecting debt payments, and working with 3rd party collection agencies.
• Approve ACH & Check File.
• Develop monthly reports reviewed by Senior Leadership/Board of Directors.
• Conduct quality review of commission payments greater than $50,000.
• Review of Daily Check Register Audit.
• Review, sort, and disburse agent commission statements and commission payments by Company check or EFT
• Verify that the calculation of commissions, frequency of payments, and method of payment are as requested by the agents and as authorized by the Company.
• Create, update, and maintain accurate agent records
• Process journal entries based on requests received from agents or from other departments to charge or credit agent commission accounts for various expenditures within approval limits.
• Approval of Journal Entries, Batches, and Activities within approval limits.
• Communicate with agents in English and/or Foreign Language and serve as Foreign Language interpreter for the department.
• Review and process requests for commission payment via EFT and ensure compliance with Federal Reserve ACH regulations, update and/or correct agents' EFT records.
• Review, sort, and distribute monthly agent reports to agents and other NWL departments.
• Complete assigned projects.
• Research problems/questions with commission payments for domestic and international agents
• Assist Field Compensation Lead as back-up when needed.