Customer Service Compliance & Tax Specialist

Job Description

Job Description

QUALIFICATIONS/REQUIREMENTS:

1. Extensive knowledge of the rules and regulations governing Special Markets and their uses and application
2. Excellent communication skills, including both oral and written
3. Extensive knowledge of life insurance concepts and complete background of product portfolio, policy provisions and interpretations
4. Demonstrated skill in analysis and problem solving
5. Production, quality monitoring and evaluation skills to assist Managers with employee development & training
6. Tact, effective decision making and independent action required
7. Demonstrated knowledge of underwriting requirements and life insurance law
8. LOMA - ASC and additional industry designations recommended
9. Demonstrated knowledge of information sources and policy accounting systems
10. College degree preferred or equivalent experience
11. FINRA Series 6 license or the ability to attain within 6 months preferred.

1. Authorize and approve permissible rollovers, loans, defaults, transfers, surrenders, RMDs, etc. in compliance with Employer Plans and Individual Policy Plan language. Ensure all applicable Information Sharing Agreements are executed and TPA information is recorded
2. Research, analyze and respond to service inquiries and complaints. Justification of transactions, sales and marketing pertaining to qualified plans, special markets and variable policies. Answer questions regarding funding limits, employee eligibility and other duties assigned by management
3. Assist with development and implementation of new procedures when necessary. Ensure productivity, efficiency and quality of the department by participating in a variety of department/corporate projects
4. Assist in development, testing and maintenance of corporate administrative systems to ensure policy compliance with IRC and Finra/SEC rules and regulations and to mitigate the Companies’ exposure to penalties. Provide support for contractual considerations and resolve problems and errors. Responsible for the filing and accuracy of all tax reporting forms for all companies. Balance and file policyholder withholding/forms with the IRS and the states
5. Authorize and change policy and computer records. Complete the annuity death claim process, complying with federal tax rules and the individual state claims regulations. Walk agents and beneficiaries thru the complex tax implications under each available settlement option
6. Provide annuity illustrations and forecasts that can’t be provided by the Illustration Team. Inform agents, registered representatives and policyholders of possible tax implications and strategies to minimize taxable income where applicable, and maximize policy benefits
7. Verify nightly NAV process. Interpret and balance daily fund file registers, if accounts out of balance, research to determine causes and make adjustments to resolve. Interpret
and review previous days purchases and redemptions with transaction reports. Track policy lag, and specific contract handling in violation of 38a-1 regulations.

Kansas City Life Insurance Company is committed to equal employment opportunities for all individuals regardless of race, religion, color, sex, age, national origin, disability, or genetic information.

Regular and reliable attendance and punctuality is an essential function of this position. 

Kansas City Life Insurance Company was established in 1895 in Kansas City, Mo. Our agency force of more than 2,500 serves 49 states and the District of Columbia. We insure more than half a million policyholders from coast to coast. Our Home Office is located in Kansas City, Mo., with a staff of more than 400 associates who provide support for our field force and policyholders.

Company Description

Kansas City Life Insurance Company was established in 1895 in Kansas City, Mo. Our agency force of more than 2,500 serves 49 states and the District of Columbia. We insure more than half a million policyholders from coast to coast. Our Home Office is located in Kansas City, Mo., with a staff of more than 400 associates who provide support for our field force and policyholders.