Job Summary:

The Commission Analyst with NewEdge Capital Group is part of the company’s accounting/finance department and is responsible for the calculation and payment of commissions to the Company’s Advisors and Registered representatives. The Commission Analyst will research discrepancies in payouts using payout schedules and agreed upon metrics and communicate with representatives. This is in part a customer facing position that requires the ability to research and problem solve with supervision. The variety and complexity of fee schedules requires the Commission Analyst to be proactive and have very detailed knowledge of the process and the customers.

The Commission Analyst will also assist with other accounting related responsibilities including, but not limited to excel based reporting, financial statement maintenance, documentation of procedures and other accounting related tasks. This is a role that will grow over time to provide this individual with experience in several different areas within the Accounting/Finance function resulting in well-rounded Commission & Staff Accountant experience.

Duties/Responsibilities:

Assist in managing full-cycle commission process and fee payments to our Advisors and Registered Representatives by:

Calculating platform fees for managed account fee billings
Supporting Operations and Trading for passing through certain costs to our Advisors

Support the Company’s use of our internal database (TNS), respond to commission and management fee inquiries.
Maintain various spreadsheet applications for calculating the Company’s platform fees applied to management fee billings.
Use internal database (TNS) to perform commission processing and payments to our Advisors.
Record commission and fee payments received from outside custodians – executed in TNS for Advisor payment purposes and in accounting system for internal financial reporting purposes.
Review and approve third party manager invoices for payment on client managed accounts.
Calculate and report on advisor revenues, payments and margin earned for monthly internal reporting to Board of Directors.

Additional Accounting Responsibilities:

Record and reconcile daily inbound mutual fund fee payments for affiliated entities fund collections and customer rebates.
Work with bank personnel for obtaining draws on line of credit, and processing repayments.
Work with Mutual Fund Services Team for weekly and monthly disbursements of mutual fund rebate payments.
Daily journal entry reporting for cash receipts and transfers between bank accounts.
Approve and release transactions on bank website for various EdgeCo companies.
Responsibile for creation and maintenance of formal written procedures.
Work with external auditors for annual financial and custody audits.
Complete multiple monthly bank reconciliations.
Update various spreadsheets utilized in month end closing process.

Skills & Experience:

Bachelor’s degree in Accounting, Finance or related field. Relevant, equivalent experience accepted in lieu of degree.
Demonstrated experience as an Accounting Analyst, Staff Accountant, Revenue Analyst or Financial Analyst required.
Knowledge of brokerage trading and commission processing desired.
Preferred experience in mutual fund, brokerage, custodial, and/or broker dealer and Registered Investment Adviser operations.
Well developed organizational, written and problem solving skills and work in a fast paced environment.
Demonstrated proficiency in Microsoft Excel, Word, and Outlook.
Motivated and disciplined self-starter with desire to follow assignments from beginning to end.
Strong customer service skills required with internal and external customers.
Ability to multi-task, shift between deliverables and meet deadlines per month-end checklist.
Willingness and flexibility to work overtime during peak periods.
Wealth Management back office experience a plus.