Senior Field Compensation Consultant
Group1001 is a consumer-centric, technology-driven family of insurance companies on a mission to deliver outstanding value and operational performance by combining financial strength and stability with deep insurance expertise and a can-do culture. Group1001’s culture emphasizes the importance of collaboration, communication, core business focus, risk management, and striving for outcomes. This goal extends to how we hire and onboard our most valuable assets – our employees.
Clear Spring Health is part of Group One Thousand One (“Group1001”), a customer-centric insurance group whose mission is to make insurance more useful, intuitive and accessible so that everyone feels empowered to achieve financial security. Clear Spring Health is dedicated to helping seniors protect their health and well-being by providing Medicare Advantage plans in select counties of Colorado, Illinois, North Carolina, and Virginia, plus Georgia and South Carolina and offers Medicare Prescription Drug Plans in 42 states plus DC.
Group 1001, and its affiliated companies, is strongly committed to providing a supportive work environment where employee differences are valued. Diversity is an essential ingredient in making Group 1001 a welcoming place to work and is fundamental in building a high-performance team. Diversity embodies all the differences that make us unique individuals. All employees share the responsibility for maintaining a workplace culture of dignity, respect, understanding and appreciation of individual and group differences.
The Senior Field Compensation Consultant is responsible for overseeing the administration and payment of commissions and bonuses to distribution partners of Clear Spring Health and to employed sales agents. All payments to agencies and agents/ brokers representing CSH companies must comply with Medicare program requirements, state regulations and the applicable distribution contracts. The manager is responsible for review and oversight of staff involved with commission administration and payment to assure timely and accurate payments each month.
- Oversee insurance-based commissions payment lifecycle ensuring accurate and timely payments.
- Preparation of monthly insurance commissions for distributors and employed agents.
- Communication with external distribution partners, researching and answering questions, preparing/reviewing commission reconciliations as needed.
- Work with Sales, Operations, IT, and external commission system vendor to manage system and resolve issues.
- Oversight/completion of data audits during system integration and system upgrade processes.
- Maintain compliance with internal controls over field compensation processes.
- Develop and maintain process and procedural documentation.
- Maintain in-depth understanding of CMS agency compensation rules and regulations as well as life insurance and annuity compensation rules.
- Provide input and assistance to Financial teams in projections and modeling alternative compensation plans.
- Projects as assigned by management.
- Five years of progressive responsibilities within an insurance company or insurance distribution organization.
- In-depth understanding of Medicare commission rules and regulations and/or life insurance/annuity rules and regulations.
- Understanding of insurance company field compensation processes and systems.
- Experience with management and oversight of insurance company field compensation processes