Sr. Brokerage Commission Business Analyst

About Wealth Enhancement

Wealth Enhancement is an independent wealth management firm with an endless passion for enriching the lives of our clients. We continually seek to perfect our craft of personalized financial planning with our team-based Roundtable and UniFi processes that go far beyond the standard approach. We proudly provide unique financial plans and investment management services to over 75,000 households from our over 100 offices - and growing - nationwide.

Since 1997, Wealth Enhancement has tirelessly raised the standard of wealth management with specialized knowledge and more attentive service that helps every client craft their future. For more information, please visit www.wealthenhancement.com.

Our compensation team is looking to bring on a Sr Brokerage Commission Business Analyst. This person will be responsible for the proper accounting, recordkeeping, & reporting for all brokerage products.  This includes designing/testing system configuration to accurately identify and link all commission transactions to the appropriate client in CRM system (Salesforce) and ensure that variable compensation payments to Financial Advisors are accurate. This position will work closely with carriers, custodians, business development, advisor teams, operations, accounting and regulatory reporting to monitor and communicate issues with data or processes relating to brokerage product transactions.

In the spirit of pay transparency, we are excited to share the base salary range for this position is $80,000 - $100,000, exclusive of bonuses and benefits. This role is also eligible for an annual corporate bonus and equity. We encourage you to apply and provide us with your compensation expectations when you do. We’re big on open conversations, so, let’s have one.

Primary Job Functions:

Work with technology and operations to assist with the design, testing and maintenance of an integrated process for all brokerage products

• Analysis and identification of key data inputs and reports necessary to ensure proper receipt and recording of brokerage transactions

• Assist in design and testing of integrations from Clearing Firm into CRM, CRM to Advisor Compensation System, Compensation System to Payroll, GL and Advisor Reporting, and GL to Regulatory Reporting

• Monitor ongoing processing & maintenance of brokerage integration functionality and identify when changes require modifications to any underlying processes

Manage transition and integration of brokerage activity on all M&A transactions

• Participate in due diligence process to understand the types of products & carriers and provide guidance on best practices for transitioning the clients to WEBS

• Understand the timing and complexities of each custodian transition and ensure Advisors are kept informed of impact to their compensation and finance/accounting is informed of impact to timing of cash receipts and revenue recognition

• Monitor and follow-up on all unusual or unexpected delays, data inconsistencies, licensing inconsistencies, etc. during transition period

• Research and respond to Advisor inquiries related to brokerage transition

Ensure data is captured and reported accurately in all regulatory reporting

• Assist in review and determination of proper accounting for all new products

• Design and build automated reporting to comply with FINRA reporting requirements

• Review and sign off on accuracy of regulatory reports.  Assist in filing the reports on FINRA Gateway

• Maintain all FINOP books and records for WEBS

Education / Qualifications

• Bachelors Degree in Accounting, Finance, Business Administration or similar

• 7+ years’ experience working for a broker-dealer, exchange, carrier, custodian or financial services company in operations, compliance or regulatory reporting required.  FINOP experience desired

• 3+ years’ experience in Business & Systems Analysis and project management exposure

• Inter-personal and communication skills working with people at all level

• Experience communicating sensitive information

• Attention to detail

​WEG hires employees and makes decisions about their salary qualifications based on factors such as: the role to be performed; educational and professional experience, qualifications, skills and credentials; tenure, cost-of-living and demand for the r