Responsibilities
Adviser Payrun & Reporting
- Execute the monthly adviser payrun via X-plan and CommPay, ensuring all payments are accurate, timely, and fully reconciled.
- Prepare and validate individual remuneration reports for each adviser, supporting transparency and adviser confidence.
- Produce master reconciliation sheets for internal checks by the Finance & People & Culture team.
Issue Resolution & Adviser Support
- Match out suspense items, resolving any discrepancies or issues that arise during the payrun process.
- Answer adviser queries on fees and commission items, providing prompt and accurate responses to ensure clarity and understanding.
- Liaise with Payment Operations, Finance, and P&C to ensure smooth handoffs and alignment across functions.
Process Improvement & Project Work
- Participate in the adviser compensation working group, offering input on structuring pay frameworks, ratchets, performance tiers, and incentive alignment.
- Identify and recommend improvements in payrun processes, reporting tools, and adviser communication.
Governance & Conduct
- Ensure all activities align with FCA Consumer Duty principles, ensuring fair treatment and positive outcomes for advisers and clients.
- Maintain high levels of discretion and data integrity when handling sensitive pay and performance information.
Knowledge
- Solid understanding of how a wealth management practice operates, with experience working with wealth/financial advisers and compensation structures.
- A good understanding of fees and commissions, along with agency and provider products, to facilitate informed decision-making and reporting.
- Familiarity with fees and commissions processes and associated systems, such as X-plan and CommPay.