Job Summary:
NewEdge Advisors is looking for a highly skilled service-minded Advisory Compensation & Commissions Specialist with a positive attitude who enjoys problem-solving and meeting the needs of our advisor base and their clients. As a rapidly growing company, the ideal candidate is comfortable and excels in an atmosphere of constant growth, change, and ideation.
The Compensation Specialist will be responsible for third party advisory fee billing and payment systems administration, processing, and documenting asset-based invoicing. This person will also perform compensation systems administration. This person should be a skilled multi-tasker with excellent time management, advisory fee and commission revenue & expense familiarity, and communication skills. This candidate needs to have excellent follow through and customer service skills. We are looking for someone to take ownership of their role within the company and someone who takes pride in their work. The Compensation Specialist will report directly to the Manager of Compensation and work closely with the Manager of Billing.
The position will ideally be in New Orleans, LA, but remote candidates may be considered.
Responsibilities:
- Provide a high level of client service to our advisor teams by promptly responding to a variety of billing and compensation inquiries and issues
- Process monthly compensation for advisors and assist in training on compensation system
- Setup new advisors on the Quantum platform
- Document and process compensation adjustments, including custodial adjustments and RIA charge backs for technology, staffing costs, premium model charges, etc.
- Navigate Third Party and Custodian platforms and locate relevant reports, tools, and technology
- Log intake forms for new rep/vendor relationships
- Ensure new vendors are setup to receive compensation and commissions
- Problem-solve complex billing and compensation scenarios
- Assist in monthly, quarterly, and yearly quality control checks and audits
- Support with monthly advisory compensation process as needed
- Respond to internal and external inquires in a timely manner
- Follow up on issues and inquiries until fully resolved
- Communicate with vendors in an effective and professional manner
- Liaise with the finance team to ensure accurate accounting entries
- Other billing, compensation and finance duties as needed
- Assist with special projects as needed
Skills & Qualifications:
- Bachelor’s degree in accounting or related field
- Three to five years of accounting or advisory billing related experience
- Series 7 is a plus
- Experience within the financial services industry highly preferred, whether working in an advisory firm, RIA, broker dealer or within a multi-custodial environment
- Familiarity or experience with LPL Financial, Raymond James, Schwab, Goldman Sachs and/or Fidelity
- Excellent verbal and written communication skills
- Proficient in Microsoft Office including expertise in Excel
- Prior experience in accounting, accounts payable/receivable, financial analyst or FP&A
- Experience with Softek/Quantum is a plus
- Strong organizational skills and attention to detail
- FBI background check required
- Ability to pay close attention to detail, work under pressure and meet or exceed deadlines.
- Ability to organize, prioritize, and handle multiple tasks within established timeframes.
- Ability to independently keep track of future tasks and ensure execution is timely
- Ability to remain flexible while working in a growing organization.
- Ability to collaborate with colleagues.
- Ability to communicate and project a positive, professional attitude with co-workers, customers, and various business contacts in person and over the telephone.
