Broker Services Program Specialist

Job Description

Job Description

This position is responsible for maintaining and adhering to internal controls, ensuring compliance with applicable laws and regulations, and following Health New England’s entity level policies and procedures. The position is responsible for reporting unethical or fraudulent activity related to business operations and adhering to Health New England’s Code of Conduct.

The Broker Services Program Specialist is responsible for managing all processes related to HNE’s broker partners, this includes but is not limited to contracting and credentialing, compensation, and service. Provides data analysis and makes recommendations on all aspects of broker compensation for Sales Leadership and supports all HNE lines of business. The Broker Services Program Specialist must be able to perform this role with minimal supervision.

Essential Functions :

• Responsible for the credentialing of new and existing brokers including collection and storage of application requirements i.e. licensing, E&O policies, W-9, EFT, etc. and ensuring the renewal of any such relevant documents where broker maintains an active book of business with Health New England.
• Acts as a primary contact for administration of broker contracting and compensation programs and is responsible for the integrity of all broker compensation data.
• Responsible for compensation schedule entry in core system for all eligible HNE plans in accordance with all compensation plans as authorized and approved by Sales Leadership.
• Reconciles monthly broker compensation payments to all required systems, including but not limited to Amisys.
• Collaborates and reports to accounting monthly on compensation accruals and payouts.
• Responsible for compensation statement broker portal process, validation and development as needed.
• Prepares Schedule “A” reporting as requested by Brokers and / or Employer Groups.
• Prepares broker bonus reports for broker tracking and expectations of payouts.
• Maintains and communicates to Sales Leadership the broker bonus program throughout the calendar year and provides analysis and ad-hoc reporting as needed to support.
• Maintains and updates broker information in Amisys, CRM tool, and any other related tool as required.
• Develops, communicates, and implements broker processes and procedures to ensure compliance with all related regulatory guidelines, optimizes and eliminates inefficiencies, ensuring processes remain updated for relevancy, accuracy and in accordance with Health New England’s repository policies.
• Identifies, researches, resolves and communicates to broker and Sales Leadership as needed on compensation issues for unexpected overpayments, adjustments, retraction of commissions and repayments from broker.
• Collaborates with key stakeholders throughout organization to stay current with changes in compensation-related laws and regulations to ensure ongoing compliance.
• Supports Sales Leadership in the development, modification and implementation of all HNE’s Broker Compensation Program, this includes but is not limited to providing analytical support in design and administration.
• Collaborates on industry compensation and bonus programs communicated by brokers or other relevant stakeholders and shares with Sales Leadership for competitive strategy analysis.
• Serves as a subject-matter expert on compensation-related projects.
• Attends and represents Health New England at Sales events or other related sponsored events as needed.
• Assists in annual audit procedures - both internal and external. Assists in the implementation of controls to monitor and mitigate risks associated with compensation structures.
• Assistance with ad hoc tasks and projects as needed.

Minimum Requirements : Bachelor's Degree or equivalent; education in Business Administration, Accounting or Finance preferred or related field and experience in the insurance industry, or an equivalent combination of education and experience.

Working Conditions : Works in a standard office-based environment with long periods of data entry, sitting, viewing computer monitors and utilizing virtual communication tools.

Health New England is an Equal Opportunity (EEO) employer. It is the policy of the Company to provide equal employment opportunities to all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran or disabled status, or genetic information.