What are the responsibilities and job description for the New Business Consultant position at Group 1001?
Group 1001 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 New Business Consultant will be responsible for assisting with the intake of individual annuity applications with a particular focus on the Consumer Profile that is used to gauge suitability. This position will require analytical review, independent decision making, and sound judgement. A New Business Consultant will act as a liaison between the Compliance team and Operations team. This role may work closely with management, product, and compliance on a variety of projects and issues critical to the Company’s success.
Main Accountabilities:
Employees who meet benefit eligibility guidelines and work 30 hours or more weekly, have the ability to enroll in Group 1001’s benefits package. Employees (and their families) are eligible to participate in the Company’s comprehensive health, dental, and vision insurance plan options. Employees are also eligible for Basic and Supplemental Life Insurance, Short and Long-Term Disability, and to enroll in the Company’s Employee Assistance Program and other wellness initiatives. Employees may also participate in the Company’s 401K plan, with matching contributions by the Company.
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 New Business Consultant will be responsible for assisting with the intake of individual annuity applications with a particular focus on the Consumer Profile that is used to gauge suitability. This position will require analytical review, independent decision making, and sound judgement. A New Business Consultant will act as a liaison between the Compliance team and Operations team. This role may work closely with management, product, and compliance on a variety of projects and issues critical to the Company’s success.
Main Accountabilities:
- Process and review suitability documents and application packages in an accurate and timely manner. Determine when further information is needed from Financial Professionals.
- Help identify potential compliance and fraud risks and propose possible mitigants.
- Evaluate, identify, and propose solutions to mitigate potential compliance and fraud risks.
- Monitor and test certain annuity transactions and business processes.
- Continual engagement with legal and compliance partners to stay abreast of regulatory changes.
- Learning, retaining, and updating one's knowledge of a wide variety of financial product information and internal processes and procedures, while adhering to strict financial industry rules and regulations.
- Assist with special projects as needed and other duties as assigned.
- Bachelor’s degree in a related field or equivalent experience. Advanced level degree a plus
- 2 years of financial services experience preferred
- Ability to analyze situations for compliance and business risks and implement solutions to mitigate
- Commitment to customer service and quality
- Strong problem-solving skills and experience working in a fast-paced environment
- Strong leadership and communication skills
- Knowledge and understanding of insurance laws and other regulations related to the life and annuity business is required
Employees who meet benefit eligibility guidelines and work 30 hours or more weekly, have the ability to enroll in Group 1001’s benefits package. Employees (and their families) are eligible to participate in the Company’s comprehensive health, dental, and vision insurance plan options. Employees are also eligible for Basic and Supplemental Life Insurance, Short and Long-Term Disability, and to enroll in the Company’s Employee Assistance Program and other wellness initiatives. Employees may also participate in the Company’s 401K plan, with matching contributions by the Company.
