Annuity Contract Administration Representative
About The Position:
Guggenheim Life and Annuity is seeking an experienced Annuity contract administration representative to join the Annuity Administration department. The representative will join a highly collaborative team processing a variety of Annuity transactions, including but not limited to: review and input of new business applications, financial and non-financial transactions for existing annuity contracts, 1035 exchanges, importing incoming faxes, and preparing and binding outgoing contracts. In addition, you may perform limited research and analysis for requested transactions, respond to and communicate with outside annuity clients (agents, beneficiaries, trustees, attorneys, POA’s), participate in testing system modifications, and provide back up for the call center. Requirements include a minimum of 3 years’ experience working with life and annuity products in the insurance or financial services industry.
This role will present opportunities to apply your Annuity knowledge and further develop your skills and career goals in the financial services industry. The position is located on the north side of Indianapolis, Indiana.
Specific Responsibilities Include:
- Reviews, analyzes and processes all new business applications with cash payment or transfer requests, and executes financial transactions related to new business such as establishing systematic distributions of interest or required minimum distributions.
- Processes incoming annuity administration requests which may include partial and full withdrawals, beneficiary and ownership changes, questions regarding complex contract provisions or values, annuitization quotes and illustrations. Researches, responds to and/or processes tasks submitted by Customer Service Call Center.
- Processes and completes 1035 exchange requests and transfers by faxing, mailing and resending information to transfer companies.
- Follows up with other financial service institutions, marketing organizations, or agents regarding outstanding requirements, transfer requests, and/or communication regarding outstanding claims.
- Researches and responds to contract owners’ inquiries regarding their annuity contracts by telephone, FAX, e-mail and written correspondence.
- Calculates taxable implications of financial transactions and reporting as needed to comply with state and federal regulations. Verifies and makes corrections or additions to Forms1099 or 5498 as needed.
- Proofs, prepares and binds new business contracts for mailing.
- Reviews and imports incoming faxes into Onbase workflow.
- May provide back up for call center.
Skills & Experience Required:
- Prefer Associate’s degree in Business or equivalent training or experience.
- Professional designations such as LOMA’s Associate Life Management Institute (ALMI), Associate Secure Retirement Institute (ASRI), Associate Customer Service (ACS), or Associate Annuity Products Administration (AAPA) are extremely helpful and encouraged
- Prefer 1-3 years’ experience in insurance industry (administration, new business or claims) with a solid understanding of insurance products
- Must be able to demonstrate knowledge of life insurance products, annuity contracts and income tax applications, with the ability to analyze and understand complex contract requirements, income tax applications and consequences, and regulatory requirements
- Strong communication skills, including oral and written skills, and ability to communicate complex to others
- Ability to prioritize workflow, establish and meet deadlines, manage multiple concurrent tasks in order to meet and exceed established production goals and deadlines
- Flexibility in scheduling and managing multiple priorities and daily activities
- Able to learn quickly and understand complex administration systems, and adapt quickly and appropriately in response to the evolution of the company, industry and regulatory issues.
- Proficient computer skills, including keyboarding, with thorough understanding of MS Word and Excel and client relationship management (CRM) applications.
In addition, the ideal candidate must demonstrate the following skills and attributes:
- Responsible, reliable, and accountable
- Organized, multi-tasking, self-directed
- Team oriented
- Professional and diplomatic
- Innovative and inquisitive
- Intuitive, problem solver, analytical
- Dedicated to achieving results and meeting quality and quantity standards
About Guggenheim Life and Annuity Company
Guggenheim Life and Annuity Company, a subsidiary of Guggenheim Partners, provides financial services to institutional and retail customers through fixed annuity products distributed through networks of independent marketing organizations and agents nationwide.
To succeed in the Guggenheim culture, candidates must be self-starters and strive for results. We are looking for people, who operate as business owners, adhere to the highest standards and think creatively to realize opportunities, wherever they may be.
Guggenheim Partners is an Equal Opportunity Employer committed to a diversified and inclusive workforce.
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