Supervisor, Annuity Administration

Administrative Zionsville/Indianapolis, Indiana


Description

Position at Group1001

Group1001 is a consumer-centric, technology-driven family of insurance companies on a mission to deliver outstanding value and operational performance by combining financial strength and stability with deep insurance expertise and a can-do culture. Group1001’s culture emphasizes the importance of collaboration, communication, core business focus, risk management, and striving for outcomes. This goal extends to how we hire and onboard our most valuable assets – our employees.

Group 1001 Overview:

Group1001 is a consumer-centric, technology-driven family of insurance companies on a mission to deliver outstanding value and operational performance by combining financial strength and stability with deep insurance expertise and a can-do culture. Group1001’s culture emphasizes the importance of collaboration, communication, core business focus, risk management, and striving for outcomes. This goal extends to how we hire and onboard our most valuable assets – our employees.

Group 1001, and its affiliated companies, is strongly committed to providing a supportive work environment where employee differences are valued. Diversity is an essential ingredient in making Group 1001 a welcoming place to work and is fundamental in building a high-performance team. Diversity embodies all the differences that make us unique individuals.  All employees share the responsibility for maintaining a workplace culture of dignity, respect, understanding and appreciation of individual and group differences.

Job Summary:

The Supervisor of In-Force Policy Services oversees representatives in the In-Force Policy Services team This includes directing staff to achieve department goals and objectives within established service delivery expectations; representing the needs of the work units for product implementation and system enhancements; training and mentoring representatives to assure cohesive unit; and ensuring department and Company policies and procedures are applied correctly and appropriately documented.

Main Accountabilities:

  • Supervises staff including setting expectations, coaching and counseling staff, evaluating performance, conducting performance reviews, maintaining attendance records, ensuring department and company practices and procedures are followed, ensuring adequate coverage and assisting with the hiring process. Ensures staff provides highest level of service to customers within service delivery standards for accuracy, timeliness, and productivity.
  • Observes and audits work of staff to ensure timeliness, thoroughness, completeness and accuracy in the most efficient manner possible. Approves completed financial transactions, including check approval within delegated authority.  Ensures service delivery expectations are met.
  • Manages, administers and coordinates requests within the workflow system and annuity administration system, processing financial transactions, non-financial transactions, and suspense reconciliation and balancing.
  • Investigates and implements new or changes to procedures, reorganization of work, and training of new and current staff. Research processing problems or issues as necessary and recommends system modifications and enhancements.  Is involved in software testing and development for new or enhanced Administration applications.
  • Participates in multi-department ad-hoc committees regarding product and system developments and administration, new product implementation, commission changes, administrative changes to contracts, special promotions and customer notices or announcements.
  • Works with internal departments, such as Actuarial, Accounting, Marketing, Regulatory Compliance, Contact Center, and IT to research and implement changes and/or solutions for common objectives or issues.
  • Assists with and provides backup for work teams depending upon volume of incoming and outstanding transactions.
  • Keeps abreast of compliance regulations, including anti-fraud, money laundering, and other red flags that may indicate potential fraudulent or inaccurate processing that deviates from standard procedures.

Qualifications:

  • Associates or bachelor’s degree preferred.
  • Minimum of 3 - 5 years supervising employees in a life insurance-industry related field, with life and annuity business preferred.
  • Minimum of 4-6 years of related experience with customer service/call center, agency administration, life insurance/annuity processing.
  • Solid understanding of life insurance/annuity products and processing requirements, state regulated agent licensing requirements, and a solid understanding of income tax applications for agents, policy/contract owners.
  • Strong research, analytical, problem solving, organizational, and math skills
  • Proven ability to manage teams of staff in a fast-paced and deadline driven environment without losing sight of customer service requirements
  • Exceptional time management skills, including ability to multi-task and work with shifting priorities, meeting tight deadlines and timetables
  • Must be detail oriented and able to make decisions independently
  • Advanced knowledge of administration/processing applications, including workflow applications, such as OnBase
  • Excellent computer skills with thorough understanding of Microsoft applications to including advanced Word and Excel skills, Visio, and client relations management applications (CRM)
  • Professional designations or demonstrated work toward achieving designations such as LOMA’s Fellow/Associate Life Management Institute, (FLMI/ALMI), Associate in Annuity Products and Administration (AAPA), Associate in Customer Service (ACS), Associate Insurance Regulatory Compliance (AIRC), and/or Associate Insurance Agency Administration (AIAA).