Prosperity Service Group, LLC is seeking to hire a Manager or Director of Annuity Operations for our Roanoke, VA office. This position oversees the day-to-day operations of the team responsible for administering annuity and single premium life products, including both new business processing and in-force policy administration.
Major Duties and Responsibilities include the following. Other duties may be assigned.
- Maintain a knowledge of the company annuity products, both qualified and non-qualified, and function as an internal product resource for questions related to past and present product offerings. Possess an understanding of the IRC tax procedures as they relate to non-qualified annuity products and be able to communicate tax concepts to agents and customers.
- Interact with team members, as well as sales agents, product distributors, heads of distribution, and company executives. Handle escalated requests.
- Manage the performance of the team by effectively coaching and providing day-to-day feedback. Mentor team members and provide training.
- Document/maintain procedures related to processing new business and in-force transactions. Look to constantly improve business processes through automation and process redesign.
- Manage the flow of new paper and electronic applications to completion and ensure that resources are properly aligned to meet customer expectations. Ensure compliance with new business replacement and exchange processing, as well as suitability requirements. Monitor transactions against key controls such as AML, OFAC, and Know-Your-Customer. Ensure timely follow-up with replacing insurance carriers.
- Manage the flow of in-force transaction requests (policy changes, requests for withdrawals, set-up of systematic withdrawals, etc.) and ensure that processing standards are met.
- Set and maintain processing standards for the team and report on actual business results against those standards. Organize the scheduling of team responsibilities to ensure that processing standards are met.
- Position is responsible for annual tax reporting – 1099’s, 5498’s, B Notices, etc.
- Participate in the design/filing of new products and forms, and the documentation and procedures related to the launching of new products.
This job has supervisory responsibilities.
Education and/or Experience and Skills
- The position requires significant experience in working with annuity products and managing insurance back-office operations
- Experience with insurance administrative systems and with point-of-sale technologies such as iPipeline and AnnuityNet
- Track record of setting and meeting production standards in an insurance back-office environment
- Experience with implementing workflow and process improvements
- Demonstrates a high level of initiative and seeks and encourages others to implement new solutions to operational challenges
- Ability to assimilate data and create reports, presentations, and workflow diagrams, utilizing Excel, PowerPoint, Query, and other tools
- Excellent verbal and written communication skills, at all levels of the organization
- Ability to effectively interact/interface with external parties – agents, distributors, customers, and vendors
- Tactful and professional, with the ability to influence others
- Ability to influence strong critical thinking skills and the ability to effectively problem solve
While performing the duties of this job, the employee is frequently required to sit. The employee is occasionally required to talk or hear. Specific vision abilities required by this job include close vision. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
To apply, send resume to [email protected] reference Job#0110-19 when applying.