Insurance Specialist

Job Title Job Description Help Reviews work items, suspense payment actions, and out of balance policies. Assesses policy billing, transaction history, liabilities, and funds in suspense. Conducts complex policy and loan audits and calculates complex refund actions to determine appropriate allocation of funds on a policy to bring the account current, to resolve or establish indebtedness. Completes system actions and, when applicable calculates, interest prior to releasing a payment, establishing a lien, or developing to recoup funds. Responsible for processing returned payments, completing research and development to locate payees and proper application of funds. Prepares and releases correspondence to customers which explain policy actions and money due or owed. Conducts research and development of information into missing government checks initiated by the Department of Veterans Affairs Insurance program regarding inquiries to the Treasury Department. Initiates status of checks through the TCIS (Treasury Check Information System) to determine the status of funds available and refund the available funds. If funds are determined to be unavailable, the incumbent determines whether fraudulent activity or an incorrect payee was involved. Research, contacts and interacts with the Veteran and the Check Claims Department of the Treasury. If an incorrect payee is involved, the incumbent initiates recovery of funds. Coordinates with peers and supervisors throughout the workday to resolve complex policy issues and ensure timely completion of priority workload. Responsible for processing loan and cash surrenders actions, processing underwriting applications such as reinstatements and conversions, and overdue dividend payments. Receives control listings to be reviewed, suspense payment lists, suspended accounts list, billing alter policies, which are audited and corrected. Reviews and adjusts policies regarding Allotment and Deduction from Benefit billing payment, correcting the policy balance and paid to information. This includes, but is not limited to, disbursement of dividends held on account, reinstatement of lapsed insurance, calculating monetary requirements for reinstatements of lapsed or automatically surrendered insurance, auditing years of activity (premiums and loans), and missing check processing.