Senior Associate, Commission Accounting – Hybrid

Overview

At First Republic, we care about our people. Founded in 1985, we offer extraordinary client service in private banking, private business banking and private wealth management. We believe that personal connections are everything and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel empowered and valued here.

Incredible teams doing exceptional work, every day
First Republic Private Wealth Management is comprised of investment management, brokerage, trust, financial planning and insurance professionals within First Republic Investment Management (FRIM), First Republic Securities Company (FRSC), First Republic Trust Company (FRTC), and Foreign Exchange. We offer customized wealth management solutions for our clients from a wide array of services including comprehensive investment management, financial planning, estate planning, trust services, endowment management and more. Our goal is to understand our clients’ unique needs and support them throughout a lifetime of financial goals.

Duties and Responsibilities

What you will do as an Senior Associate, Insurance Group Operations:

Manage and report insurance commission payments in the designated platforms to ensure transactional accuracy and reconciliation with the Accounting Team.

Functions:
– Process validated Carrier Commission Statements: Validate commission statements against receivables and apply in Smart Office on weekly basis. monthly, Quarterly and annual reconciliation against the GL
– Manually input(post) and then apply (batch) statement revenue in designated platform
– Generate both routine and on demand commission reports from designed platform
– Assist management with creating and updating critical reconciliation procedures
– Assist commission issue resolution and problem solving internally with the Group Operations Team and externally with 3rd party vendors
– Monthly General Ledger reconciliation
– Monthly identification of open deposits and outreach for resolution
– Review, reconcile and validate revenue and licensing, initial and recurring, for annuity policies

Qualifications

You could be a great fit if you have:
– BS/BA degree preferred
– Accounting/Bookkeeping general knowledge
– Life Insurance Commission Accounting plus
– Detail oriented; ability to identify numerical errors or inaccuracies in statements or spreadsheets
– Effective communication skills
– Document collation, filing, retention experience
– Experience highly desired in Ebix Smart Office and Pershing platforms

Job Demands:
• Must be able to review and analyze data reports and manuals; must be computer proficient.
• Must be able to communicate effectively via telephone and in person.

Own your work and your career – apply now
Are you willing to go the extra mile because you love what you do and how you can contribute as a team? Do you want the freedom to grow and the opportunity to take charge of your own career? If so, then come join us.

We want hard working team players. You’ll have the independence to learn, lead and drive change. A culture of extraordinary service, empowerment and stability – that’s the First Republic way.

We believe that a diverse range of backgrounds and ideas has and will continue to be fundamental to the future success of First Republic.

If you are curious to learn more about this opportunity, we’d love to hear from you.

This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned to meet the ongoing needs of the organization. The Company is an equal opportunity employer. In this regard, the Company makes reasonable accommodations for qualified applicants and employees with disabilities in order to enable them to perform all essential job functions, unless doing so creates an undue hardship.

First Republic is subject to federal laws that restrict the employment of individuals with certain types of criminal histories, including FDIA Section 19 and FINRA. To the extent not inconsistent with our obligations under those federal laws and regulations, First Republic will consider qualified candidates with criminal histories in a manner consistent with the Los Angeles and San Francisco ban-the-box laws.

For New York City-based roles: Mayor Bill de Blasio announced that, effective December 27, 2021, all private sector employers?in New York City will be required to ensure that their employees are vaccinated against COVID-19 to attend work in the office. Reasonable Medical or Religious Accommodations may be requested if applicable to you. Please view New York’s Guidance on Accommodations for Workers for more information.