CompenSafe: Situations Where Pay is Not Calculating as Expected

CompenSafe: Situations Where Pay is Not Calculating as Expected

Situations may arise when compensation pay is not calculating as expected in CompenSafe. This requires a creation or an update to the employee’s agreement (LO Addendum A). 

Here are the following solutions to such circumstances:

Lead Source

A Loan Officer expects to be paid on a loan, but does not have the corresponding compensation plan to the lead source of the loan on their LO Addendum A.
The Loan Officer needs to work with their Branch Manager on updating their LO Addendum A for the missing compensation plan, and then contact HR HROnboarding@afncorp.com for approval on the updated LO Addendum A.


Role or loan assignment

An employee is expecting an override pay on a loan where they are assigned to a certain role such as: Loan Officer Assistant, Loan Opener, File Starter and Inside Referral, and they do not have the supporting override agreement in place.
The employee needs to work with their Branch Manager to create the proper agreement with HR HROnboarding@afncorp.com.


Incorrect BPS

A Loan Officer is expecting a higher or lower compensation payment from a loan in CompenSafe. i.e. The lead source of a loan is Internal Referral and the Loan Officer's current Internal Referral comp on the LO Addendum A is 40bps. 40bps is displayed in CompenSafe, but the Loan Officer is expecting a 50bps compensation.
The Loan Officer needs to work with their Branch Manager on updating their Internal Referral comp to 50bps, then contact HR HROnboarding@afncorp.com for approval on the updated LO Addendum A. 


Lock Date

A Loan Officer expects to be paid on a loan, but the effective date of the LO Addendum A is past the loan’s lock date.
The Loan Officer needs to work with their Branch Manager on updating the LO Addendum A to be applicable, then contact HR HROnboarding@afncorp.com for approval on the updated LO Addendum A.


Each situation requires HR's approval to update the agreements in Paycom. Once agreements are updated and approved in Paycom, compensation calculation will be adjusted in CompenSafe. 
​
How will the updated payments be applied in CompenSafe?
  1. If this results to an additional compensation pay and the pay period is still open, the calculation will automatically be updated in CompenSafe. 
  2. If the pay period is already closed, the Commissions Team will manually enter the additional amount in CompenSafe. This will be paid on the next available pay period.
  3. If there is an overpayment and pay period is still open, calculation will automatically be updated in CompenSafe. 
  4. If a pay period is already closed, the Commissions Team will manually enter the deduction amount as a "draw" in CompenSafe to be recovered from the employee's future available compensation. 


If you need any assistance with your CompenSafe account, please email Commissions@afncorp.com with screenshots and details of your issue. 



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