Annuity Processing Consultant

Overview

Why join?

Join us in revolutionizing an entire industry's customer engagement. We prioritize human connection through technology. If you're driven by purpose and want to make a meaningful impact on people's lives, this is the place for you. Our team challenges norms with the support of a trusted American brand.

• Purpose: A leading professional services firm found that AAA Life associates demonstrate some of the highest levels of commitment, empathy, and dedication when compared to top U.S. companies in a benchmark analysis.
• Growth: We have the privilege to offer our products to tens of millions of Americans that make up the AAA member base
• Focus is on “working families”, “everyday Americans”, “ordinary citizens”, “mainstream population” “average income households”, providing life insurance products that truly impact people's lives (more information will be provided in the interview).
• Team (Culture): USA Today named us a 2024 top US workplace

The Annuity Processing Consultant plays a critical role in the administration and processing of annuity contracts. This role ensures the accurate and timely handling of annuity applications, policy issuances, and related service requests. The consultant works closely with internal teams, such as underwriting, actuarial, and compliance, to manage the lifecycle of annuity contracts and ensures all processes comply with industry regulations and company standards.

This position takes responsibility for the most complex, highest face amount and most senior applications and evaluates within guidelines established. Works closely with sales agents, customers on sensitive cases to gather information to process applications. Has authority to approve transactions up to dollar limit. Handles referral cases from others and assists in the development and training of less experienced processors.

Please note, later hours will be required during mid-month and month-end times. 

Responsibilities

How will you contribute?

• Review and process incoming annuity applications, ensuring all required documentation is complete and accurate.  Review policies/applications both inforce and new applications for suitability
• Process policy modifications, such as beneficiary updates, contract transfers, and partial and full withdrawals for all forms of withdrawals, in a timely manner.
• Handle requests for annuity payments, including annuitization and scheduled disbursements.
• Ensure all processing activities adhere to regulatory requirements, internal policies, and industry best practices.
• Has a collaborative relationship with agents/field management, applicants, vendors, other business units, and managers with a focus on attainment of sales goals and objectives. Proactively monitors reporting and cases to assure that sales objectives are achieved.
• Communicates by letter, telephone or personal contact with sales agents, applicants, teammates and professional personnel to obtain additional data and communicate decisions. 
• Consistently meets or exceeds the established productivity and quality expectations for the position.
• Demonstrates commitment to career development by actively participating in AAA sponsored training opportunities and independent industry programs and encouraging others to do so. Works to ensure industry knowledge is current and maintained. Keeps up with and provides information to others on new developments in the field of life underwriting and product development. 
• Performs special projects (research, procedural or form changes, reviews files of Sales Representatives, handle complaints or problems etc.) as assigned.
• Provides training and serves as a mentor for less experienced processors. Provides feedback to management regarding other processors performance. 
• Understands and efficiently utilizes all current systems and technologies.  Assists with managing workflow to ensure the team is meeting processing standards. 
• Recommend changes to procedures or workflow to increase efficiency and reduce processing costs. 
• May assist in cases involving actual or potential litigation and other legal and regulatory problems. 
• Assumes some management duties in the absence of the Annuity Manager.

Qualifications

What do you offer?

• Bachelor’s degree in Business Administration, Finance, Insurance, or a related field (preferred).
• 6-8 years of experience in annuity processing, life insurance, or financial services operations.
• Experience with insurance or annuity systems (such as Policy Administration Systems) is highly desirable.
• Strong understanding of annuity products, processing procedures, and regulatory compliance.
• Proficient in Microsoft Office Suite (Excel, Word, etc.) and familiar with internal systems used for annuity processing.
• Detailed knowledge of the sales process, distribution channels and product lines
• Strong analytical and problem-solving abilities.
• Effective communication skills, both written and verbal, with a customer service orientation.

What do we offer?

• Enjoy a hybrid work environment that promotes work-life balance.
• Comprehensive medical, dental, and vision coverage starting from your first day.
• Employer 401k match and employer contribution to a pension plan.
• Generous PTO and paid parental leave to support your family needs.
• Opportunities for associate engagement in various social programs and community involvement initiatives backed by the company.