Job description:
Position Summary
The Contracting & Compensation Administrator is responsible for managing producer ( advisors) and carrier ( Insurance company) contracts, maintaining compensation schedules, and ensuring accurate setup and ongoing administration of commissions and overrides. This role supports internal teams, contracted agents, and carrier ( Insurance Company) partners by ensuring compliance, accuracy, and efficiency across contracting and compensation processes within the MGA.
Key Responsibilities related to Contracting Administration
- Coordinate and administer producer (agent/broker) contracting with Insurance Companies, including onboarding, renewals, amendments, and terminations of contracts.
- Ensure all required licensing, appointments, E&O coverage, and compliance documentation are received, reviewed, and maintained
- Manage carrier appointment requests and maintain accurate carrier contracting records
- Maintain organized, up-to-date electronic contract and compliance files
- Serve as a point of contact for producers regarding contracting status and requirements
Compensation & Commission Administration
- Set up, maintain, and update commission schedules, overrides, and bonus arrangements in commission systems
- Ensure accurate mapping of compensation agreements to producers, agencies, and carriers
- Review commission statements for accuracy and resolve discrepancies with carriers and internal teams
- Support commission audits, reconciliations, and adjustments as needed
- Assist with producer compensation inquiries and issue resolution
Cross-Functional Support
- Collaborate with sales, and compliance teams to ensure seamless onboarding and compensation flow
- Assist with process improvements, system enhancements, and documentation of procedures
- Provide administrative support related to producer services and operational initiatives
Qualifications Required
- 2+ years of experience in insurance operations, contracting, commissions, or producer administration
- Knowledge of MGA, brokerage, or carrier contracting and compensation structures
- Strong attention to detail and accuracy
- Proficiency with commission systems, CRM platforms, and Microsoft Excel
- Ability to manage multiple priorities and meet deadlines
Preferred
- Experience working in an MGA or wholesale brokerage environment
- Familiarity with insurance licensing and appointment requirements
- Experience with commission reconciliation or accounting coordination
- Associate or bachelor’s degree in business, finance, or a related field
- LLQP License is preferred.
Skills & Competencies
- Excellent organizational and documentation skills
- Strong written and verbal communication
- Analytical and problem-solving abilities
- High level of discretion when handling sensitive compensation data
- Ability to work independently and collaboratively in a fast-paced environment
Work Environment
- In person office position, ( Monday to Friday, 9am to 5:30pm , with 30 min lunch break).
This role offers an opportunity to make a significant impact within the organization while utilizing a broad skill set that includes project management, leadership, bilingual communication, and administrative expertise.
Pay: $37,000.00-$48,000.00 per year
Work Location: In person
