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.

Job Description

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 financial services roles.
- 3+ years of demonstrated leadership experience managing employees and operational processes.
- Strong knowledge of advisor compensation and commission structures across annuities, life insurance, packaged products or mutual funds, and advisory fee programs.
- Experience with commission administration systems, financial reporting tools, accrual accounting, and account reconciliations.
- Strong analytical, problem-solving, reconciliation, and organizational skills.
- Advanced Microsoft Excel proficiency.
- Excellent communication and relationship management capabilities.
- Ability to travel up to 10% for team meetings, business partner engagement, vendor meetings, training, and industry events.
- Experience within a retail introducing broker-dealer, wealth management firm, insurance broker-dealer, or bank-owned investment services organization.
- Working knowledge of FINRA and SEC regulatory environments.
- Experience supporting large financial advisor networks or multiple distribution channels.
- Background in commission accounting, compensation accounting, or financial operations.
- Experience leading technology implementations, business process redesign, or automation initiatives.
- Professional certifications relevant to operations, finance, or financial services.

Location Expectations:

This role requires working from a U.S. Bank location three (3) or more days per week.

This position could require travel up to 10%.

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our  disability accommodations for applicants .

Benefits:

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:

- Healthcare (medical, dental, vision)
- Basic term and optional term life insurance
- Short-term and long-term disability
- Pregnancy disability and parental leave
- 401(k) and employer-funded retirement plan
- Paid vacation (from two to five weeks depending on salary grade and tenure)
- Up to 11 paid holiday opportunities
- Adoption assistance
- Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

Review our full benefits available by employment status here .

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the  E-Verify program .

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $111,605.00 - $131,300.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.