Job Description
Job Description
Education/Experience:
- Bachelor’s degree in Business Administration, Finance, Insurance, or related field (preferred).
- Recent experience in underwriting for annuities (not someone who has sold annuities).
- Familiarity with annuity products and common processing systems (e.g., policy administration platforms).
- Example: Fast (newer, would be surprised if they had experience) & AS400
- Handling financial information and high amounts of money.
- Proficiency in Microsoft Office (Excel, Word, Outlook).
- Strong attention to detail, organizational skills, and follow-through.
- Effective communicator with a focus on delivering quality service.
- Ability to work independently on routine tasks while collaborating effectively with peers.
Job Summary:
The Annuity Operations Specialist supports the processing and servicing of annuity contracts by executing well-defined tasks related to annuity applications, policy modifications, suitability reviews, and payment processing. This role serves as an experienced processor and peer mentor, helping ensure accurate and timely execution of daily annuity operations while upholding regulatory standards. The Specialist collaborates primarily within the department and supports process improvements initiated by management or senior-level consultants.
Job Responsibilities:
- Accurately process standard and moderately complex annuity applications and policy service requests.
- Support annuity payment processing, including annuitization and scheduled disbursements, under defined guidelines.
- Ensure compliance with established procedures, regulatory standards, and internal controls.
- Act as a team resource for operational questions and help coach newer processors on day-to-day procedures.
- Escalate non-standard, high-risk, or complex cases to management or the Annuity Processing Consultant for review.
- Maintain documentation and follow up on outstanding items to ensure processing completion.
- Communicate with sales agents, internal partners, and customers to clarify application details or gather missing information.
- Participate in training programs and contribute to onboarding of new team members by sharing best practices.
- Identify recurring processing issues and make recommendations for minor workflow improvements to leadership.
- Assist with department-level projects and initiatives under the direction of management or a Consultant.
- Provide operational support during system or process transitions (e.g., testing, data cleanup, process walkthroughs).
Compensation:
$50,000 to $ 60,000per year annual salary. [If client has provided an exact salary, then no need to use a range; also, if the client has provided an hourly rate, then use same hourly language from the Contract/Contract-to-Hire section above.]
Exact compensation may vary based on several factors, including skills, experience, and education.
Benefit packages for this role include: [description should be provided by the client since this is for a perm position- they will not receive IG benefits. If client does not provide it upon our request, we can insert something generic like "Benefit packages for this role may include healthcare insurance offerings and paid leave as provided by applicable law."]