Annuity Operations Administrator

Career Opportunity
Role Title
Annuity Operations AdministratorPurpose of role
The role of Annuity Operations Administrator offers an exciting opportunity to provide service to our US producers as well as our customers’ investments and retirement needs and goals. This includes processing transactions with a high degree of accuracy and providing superior customer service. These requests are varied and are associated with all events that may occur during the life of an annuity contract from setting up new contracts, to settlement options and then finally to the termination of the contract.

The Annuity Operations Administrator will administer and maintain all changes related to predominantly US annuities with the opportunity to expand to Canada annuities.Job Description
Key Responsibilities

Administer and transact financial and non-financial transactions (e.g. application processing, tax inquiries, 1035 exchanges, maturity notices, transfers, annuity maintenance, disbursements and settlement options)

Provide excellent customer and producer service through phone, live chat, and email interactions

Communicate and correspond with customers, producers, internal departments regarding requests, inquiries, confirmation of changes, taxation etc. within service levels

Examine all relevant documents to ensure legal and contractual requirements have been met to proceed with requests

Assess guidelines, rules and regulations to ensure changes meet legislative and corporate requirements

Maintained accurate records in the Accounts Payable System to process payments and withdrawals for all payout annuities

Ensure timely and accurate updates of all Valuation spreadsheets and databases

Complete precise updates on the taxation system and the manual tax records for all payout annuities

Complete any additional calculations required (i.e., cash values, tax gains, withholding tax)

Assist and support other team members as required during vacation, absences and peak workload periods

Update and maintain Settlement Options records

Achieve or improve on established service level agreements while identifying opportunities for process improvements

Review, update and/or create standard operating procedure documentation for Annuities

Support project and strategic initiatives

Ensure compliance with established procedures, regulatory standards, and internal controls. Work with team to identify and mitigate operational risks, ensuring compliance with anti-money laundering (AML) and Know Your Customer (KYC) requirements

Key Qualifications

Education (minimum required): University degree or college diploma in financial services

LOMA AAPA, Certificate in Retirement Essentials, or FLMI designation, an asset

Experience (minimum required): 2 – 3 years of relevant experience within the financial services industry

Technical aptitude for understanding annuity products

Bilingual (Spanish) is an asset

In-depth knowledge of US Annuities practices, products and relevant rules and regulation

Comprehensive knowledge and understanding of state legislation including taxation is an asset

Demonstrated strong verbal and written communication abilities with a proven capacity to foster productive relationships both internally and externally

Committed to delivering exceptional customer service with a collaborative, team-oriented approach

Skilled in managing daily workflows and consistently meeting deadlines with a strong sense of urgency and accountability for all deliverables

Capable of working independently while contributing effectively within a collaborative team environment

Proven ability to identify issues and implement effective solutions, with strong conflict resolution skills

Demonstrated problem solving, de-escalation, and conflict resolution skills

Skilled in managing multiple tasks and adjusting priorities in response to shifting demands, while maintaining high productivity and exceptional quality in a dynamic, fast-paced environment

Proficient knowledge of Microsoft Office suite of products, specifically Excel. Solid knowledge of CRM, AWS Amazon Connect is an asset

Demonstrated mathematical aptitude with attention to detail and accuracy

Operation hours of 9:00am - 5:00pm Eastern Time

Flexibility for periodic weekend shifts and statutory holidays may also be required to support changing conditions, customer demand, and business needs.

The actual base salary for this position will depend on several factors, including job-related skills, experience, and education. In addition to base pay, eligible employees may participate in a discretionary variable incentive plan, results are subject to both individual and company performance.

Please note that this posting is intended to fill an existing vacancy; however, there may be instances where more than one vacancy is available for the same role.

Equal Opportunity Employment and Inclusion – at Foresters Financial, we are committed to sustaining an equal opportunity environment for all job applicants. We embrace Inclusion, Diversity and Equity (IDE) as a core strategic objective for building strong, innovative teams in which all our employees can show up wholly and authentically as themselves.

Foresters Financial strives to provide an accessible candidate experience for prospective employees with different abilities. If you anticipate needing any type of accommodations during the recruitment process, please email in advance of your appointment.

Thank you for choosing Foresters. Only those candidates who will be selected for further consideration will be contacted by our Talent Acquisition Team.
Originally posted on Himalayas