Annuity Values Processor

Annuity Values Processor

Location: Remote

Overview: Reviews and processes requests for surrenders and partial withdrawals from annuity contracts, researches policy details to ensure transactions can be made. Fields inquiries about annuity products and services, answers questions and resolves routine inquiries; reviews records and policies as needed to provide appropriate response. Responds to internal/external inquiries and researches policy history as needed.

Core Responsibilities:

• Reviews surrender and withdrawal requests from agents and customers; determines whether requested transaction is a surrender, partial withdrawal and/or transfer to pay premium or deposit values. Initiates conservations process and prepares correspondence.
• Processes policy and general accounting transactions in administrative systems, using appropriate codes and crediting and debiting accounts correctly; makes refunds if necessary; performs manual calculations using charts and formulas, to determine taxes owed in compliance with U.S. and Canadian tax policies, creates manual checks when necessary
• Reviews and responds to inquiries (telephone and e-mail) from clients (internal and external) with respect to functions of the annuity service department (e.g., status of transfers and rollovers, status of pending contracts, refers more complex inquiries to appropriate section/division; answers basic questions about annuity contracts, tax qualification codes, application of funds (transfer, rollover, tax year), distribution dates and amount, requests for values including Annuity Surrenders and Withdrawals.
• Handles complex calls and email inquiries from agents, clients; generates routine correspondence to provide information and resolve issues

Skills Qualifications:

• Knowledge of retirement plans/products (including Ratebook), insurance and annuity plans/products
• Knowledgeable about the basic operations of the Annuity Services department to be able to provide answers to basic questions on all areas; specific knowledge about own area
• Knowledge of basic accounting principles
• Basic mathematical skills
• Knowledge of tax laws regarding annuity products. Data entry skills. Detail oriented; ability to determine and correct errors related to job duties
• Communication skills; Excellent oral and written communication skills
• Customer service skills
• Collaboration and teamwork

Systems/Technical Knowledge:

• Ability to use PC and related software, including Lotus Notes, Microsoft Word, Excel and Access
• Ability to enter and view data in policy administrative systems: Ingenium and CICS (Life 70) (including online accounting and Master Record)
• Ability to use Imaging and workflow system: AWD
• Ability to use illustration system to create illustrations: Navigator

Education: High school diploma 3-5 years of experience working with insurance and annuity policies