Head of Contracting & Compensation

Location: GTA (MGA - Insurance Division)
Compensation $100,000-$120,000

Role Summary

The Head of Contracting & Compensation is responsible for overseeing advisor contracting, licensing, and compensation administration across the organization. This role ensures processes are efficient, accurate, and compliant with regulatory and carrier requirements, while supporting advisor onboarding and ongoing operations.

Key Responsibilities
1. Advisor Contracting & Onboarding

• Oversee the end-to-end advisor onboarding process, including:
  • APEXA profile setup, validation, and maintenance
  • Completion and review of the CLHIA Life Insurance Advisor Questionnaire
• Ensure timely and accurate submission of contracting packages to carriers
• Maintain documentation standards and audit readiness
• Act as the primary point of contact for contracting-related inquiries

2. Licensing & Registration (Canada-wide)

• Manage advisor licensing and registration across all provinces
• Ensure compliance with provincial regulators and continuing education requirements
• Track license statuses, renewals, and terminations
• Coordinate with advisors and internal teams to resolve licensing issues

3. Compensation Administration

• Oversee commission processes, including:
  • First Year Commission (FYC)
  • First Year Override (FYO)
  • Renewal commissions
  • Chargebacks and adjustments
• Ensure commission structures align with carrier contracts and advisor agreements
• Review and reconcile commission statements (e.g., WealthServ or similar systems)
• Investigate and resolve discrepancies in a timely manner

4. Systems & Process Management

• Maintain and optimize systems such as APEXA and WealthServ
• Develop and document standard operating procedures
• Identify opportunities for automation and process improvement

5. Compliance & Risk Management

• Ensure all practices align with CLHIA guidelines, carrier requirements, and internal policies
• Support internal audits and regulatory reviews
• Maintain accurate records for compliance and reporting

6. Leadership & Stakeholder Management

• Lead and mentor the contracting and compensation team
• Collaborate with carriers, compliance, operations teams, advisors, and leadership
• Provide training and guidance on onboarding and compensation structures

Qualifications & Experience

• Strong knowledge of APEXA, CLHIA requirements, and Canadian licensing frameworks
• Experience with WealthServ or similar back-office systems
• Deep understanding of insurance compensation structures (FYC, FYO, renewals, chargebacks)
• Background within an MGA or insurance distribution environment
• Strong attention to detail and organizational skills
• Ability to manage multiple stakeholders and deadlines

Key Competencies

• Strong regulatory and compliance mindset
• Process-driven and detail-oriented
• Analytical and problem-solving capabilities
• Effective communication and leadership skills

Success Measures

• Timely and compliant advisor onboarding
• Accurate and transparent commission processing
• Reduction in errors and operational inefficiencies
• Strong relationships with advisors, carriers, and internal teams