Commission Manager

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career.

Try new things, learn new skills and discover what you excel at—all from Day One.

This Commission Manager will lead commission operations for our retail introducing broker-dealer. This position is responsible for overseeing the administration, reconciliation, accounting, reporting, and payment of commissions associated with annuities, life insurance, packaged products, and advisory fee programs.

This person will manage a team of commission operations professionals and serve as a key partner to Financial Advisors, Sales Leadership, Product teams, Finance, Accounting, and external product sponsors. This role requires strong leadership, operational expertise, analytical skills, and a commitment to accurate and timely advisor compensation in a highly regulated financial services environment.

The Commission Manager will play a critical role in maintaining operational excellence, supporting advisor satisfaction, ensuring financial reporting accuracy, and driving continuous process improvement initiatives.

Key Responsibilities

Commission Operations Management

• Oversee the end-to-end commission process for annuity, life insurance, packaged product, and advisory fee business lines.
• Ensure commission data is accurately received, validated, reconciled, and loaded into the commission processing system.
• Manage commission payment cycles and review exception reporting to ensure timely and accurate advisor compensation.
• Monitor commission trends, identify discrepancies, and implement corrective actions when necessary.

Advisor and Carrier Support

• Review and resolve complex advisor inquiries related to commission calculations, payment timing, chargebacks, and compensation adjustments.
• Serve as the escalation point for commission-related issues and provide timely resolution.
• Coordinate with insurance carriers, mutual fund companies, advisory platforms, and other product sponsors to research and resolve missing commission payments, discrepancies, and processing errors.
• Develop and maintain strong relationships with internal and external stakeholders.

Financial Reporting and Accounting Support

• Support accurate commission reporting for sales management, financial reporting, and advisor compensation purposes.
• Prepare and review commission-related reporting and analytics for management and business partners.
• Prepare monthly commission-related general ledger journal entries, account reconciliations, and supporting analyses, as needed.
• Prepare, review, and maintain advisor compensation accruals to support accurate monthly and quarterly financial reporting.
• Perform reconciliations and variance analysis to support the appropriate recognition of advisor compensation expense and related liabilities.
• Partner with Finance and Accounting teams on month-end and quarter-end close activities related to advisor compensation expense, accruals, commission liabilities, and balance sheet support.

Process Improvement and Project Leadership

• Lead commission-related projects, system enhancements, automation initiatives, and operational improvement efforts.
• Identify opportunities to strengthen controls, improve efficiency, and reduce operational risk.
• Develop and maintain policies, procedures, and documentation supporting commission operations.
• Assist with new product launches, compensation plan changes, and strategic business initiatives.

Risk Management and Controls

• Ensure commission activities comply with company policies, compensation programs, regulatory requirements, and audit expectations.
• Support internal and external audit requests and maintain appropriate documentation and controls.
• Evaluate risks within commission processes and implement sustainable solutions to enhance operational effectiveness.

Basic Qualifications

• Bachelor's degree in accounting or finance (preferred) or related field, or equivalent work experience
• Six or more years of accounting experience

Required Qualifications

• Experience in broker-dealer operations, advisor compensation, commission administration, wealth management operations, or related…