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Commission Accounting Specialist - Req. 1900760


Job Summary:

Under general supervision, uses specialized knowledge and skills obtained through experience and/or formal training to process all aspects of payroll for commissioned independent contractors. Detailed instructions and established procedures and prescribed guidelines are provided to perform a variety of tasks requiring minimal evaluation, originality or ingenuity in making routine decisions.  Recommends solutions to moderately complex problems. Maintain FA and Branch Payroll data on a current basis, as well as keeping accurate records for each branch and its personnel’s banking information. Will have extensive contact with internal and external customers to identify, research, and resolve problems.

Essential Duties and Responsibilities:

• Acts as payroll liaison to RJFS branch managers, financial advisors and sales management.
• Process commissions and commission related payments and changes using multiple unique, highly ambiguant systems to handle the complexity of various business unit compensation plans (ie. commissions, branch overrides, continuing commissions, payouts etc.)
• Consulting with Branch Managers on the various branch payout options to ensure they have a complete understanding of branch settlements.
• Sets up, modifies and or terminates financial advisors and branch offices in the payroll system.
• Confirms proper posting of fees, commissions, reimbursements and expenses to payroll statements and to general ledger, ensuring integrity of 1099’s and general ledger accounts.
• Prepares various journal entries, primarily commission postings and adjustments.
• Reconciles payroll statements and payroll related general ledger accounts.
• Utilizes reporting software to assist in reconciliations and problem resolution.
• Maintains branch office and financial advisor’s payment records, including current banking information for direct deposits and ACH.
• Prepares advances and payment reversals.
• Maintains currency in operations policies and procedures
• Prepares and distributes branch office payroll statements and payments.
• May train or lead other associates.
• Performs other duties and responsibilities as assigned.



Knowledge, Skills, and Abilities:

Knowledge of:

• Accounting concepts, practices and procedures
• Operations and systems of assigned functional area.
• Fundamental accounting concepts, practices, and procedures.
• Financial products.

Skill in:

• Communicating effectively with highly complex clients to answer questions and resolve issues.
• Operating standard office equipment and using required software applications, including general ledger and payroll software systems, including Microsoft Office Excel, Access and or Crystal reporting.
• Preparing, processing and maintaining transaction documentation, files, and records.
• Gathering and compiling information from multiple sources.
• Responding appropriately to inquiries and dealing with complex transaction issues.
• Organizational and time management sufficient to prioritize workload, handle multiple tasks, and meet deadlines.
• Coaching and communicating effectively, both orally and in writing.

Ability to:

• Review and analyze the requests from highly complex business units to ensure compliance with firm directives.
• Maneuver within unique systems to handle complex compensation setup and calculations.
• Identify and recommend solutions to problems to ensure proper payouts.
• Partner with other functional areas to accomplish objectives.
• Execute instructions and request clarification when necessary.
• Identify and resolve discrepancies.
• Communicate effectively, both orally and in writing, with all organizational levels.
• Demonstrate efficiency and flexibility in performing detailed tasks in a fast-paced work environment with frequent interruptions, changing priorities, and multiple deadlines.
• Provide a high level of customer service, primarily via telephone.
• Maintain strict confidentiality of payroll records.
• Work independently as well as collaboratively within a team environment

Educational/Previous Experience Requirements:

• Associate’s degree (A.A.) or equivalent from a two-year college or technical school and three (3) years’ experience.
• An equivalent combination of education, experience and/or training approved by Human Resources.


• None required.