Annuities Representative (New Business) is responsible for the annuities application process. Assists applicants and checks forms for completeness and accuracy. Being an Annuities Representative (New Business) ensures compliance with all regulations and keeps abreast of any changes to laws and regulations which pertain to annuities applications. Reviews all fund transfers such as tax-free fund transfers, direct transfers and direct rollovers for completeness and compliance. Additionally, Annuities Representative (New Business) is responsible for responding to inquiries from clients, agents, financial institutions and internal departments. May require a bachelor's degree or its equivalent. Typically reports to a supervisor or manager. Requires National Association of Securities Dealers (NASD) license. The Annuities Representative (New Business) works on projects/matters of limited complexity in a support role. Work is closely managed. To be an Annuities Representative (New Business) typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)
Reviews and accurately processes life and health insurance applications received, within established authority. Thoroughly reviews application for completeness to ensure all necessary requirements are met. Approves applications within the limits of authority level and coordinates workflow of cases outside authority limits to underwriters for final disposition. Completes appropriate transactions and thoroughly reviews and validates output to ensure accuracy. Ensures compliance rules are met. Researches inquiries and provides prompt and accurate service to internal and external customers.
Leverages knowledge of complex systems and manual processes to data enter, verify, and final action disposition life and health insurance policies so that they can be processed in a timely manner to ensure compliance with state and federal guidelines.
Reviews application for completeness, recognizing limited system edits and understanding allowable and non-permitted coverage, etc.
Ensures compliance with state and federal life insurance guidelines, including producer licensing and replacement.
Initiates contact with customer or producer/agent to obtain information. Analyzes available information to determine if application process can proceed despite missing information.
Accurately keys pertinent data into system to create record and correct reporting.
Adapts various system requirements when valid data is not yet available, recognizing acceptable parameters and deviations.
Determines case status, researching additional items if needed before final action and payment to producer/agent. Identifies potential problems and makes decisions based on past cases that were similar, or escalates those situations that need management attention.
On cases that are outside guidelines, determines whether to refer case to underwriter or producer/agent for resolution.
Develops and presents structured job-specific training as management directs, applying appropriate adult-learning principles.
Performs other duties as assigned by management.
Proven PC skills with data-entry experience. Ability to continuously make repetitive motions of the wrists, hands and/or fingers.
Proven in-depth knowledge of available products and riders by state, age, gender, etc.
Demonstrated strong attention to detail with excellent organizational skills. Cite examples of organizational and time management methods used to manage or prioritize workload demands.
Demonstrated ability to apply knowledge to future decisions (progressive decision-making).
Must provide examples of maintaining a high degree of accuracy associated with high volumes of work and/or multiple duties.
Demonstrated excellent verbal and written communication skills with the ability to successfully interpret and communicate business needs to internal or external customers in a clear, focused and concise manner while following proper rules of punctuation, diction and style.
Demonstrated experience effectively working with customers.
Demonstrated experience working independently under little direction from management. Experience must include identifying and resolving problems where independent decision-making and self-initiative were demonstrated.
Must provide examples from work experience demonstrating flexibility to meet department and customer needs.
Work Setting:
Educational Requirements:
High school diploma.
Some college work preferred.
Computer Skills and Knowledge of Hardware & Software Required:
Working knowledge of word processing and spreadsheet applications.
Working knowledge of email system.
Basic knowledge of medical conditions considered a plus.
Certifications & Licenses (i.e., Series 6 & 63, CPA, etc.):
None required, LOMA, CLU, or other industry designations considered a plus.
Position Demands:
Extended hours required during peak workloads or special projects.
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