Annuity Operations Administrator

Foresters Financial Services, Inc.; United States; Remote; USD 55,000 - 75,000; Full time

Job summary

Foresters Financial is seeking an Annuity Operations Administrator to service US producers and customers, handling transaction processing with accuracy across life of annuity contracts, from set up to settlement options and eventual termination.

You will administer US annuities, support inquiries by phone, chat, and email, maintain records, ensure regulatory compliance, and collaborate with teams on process improvements.

Qualifications

• University degree or college diploma in financial services.
• LOMA AAPA, Certificate in Retirement Essentials, or FLMI designation, an asset.
• 2–3 years of relevant experience within the financial services industry.
• Proficient understanding of US annuities practices, products and relevant regulation.
• Strong verbal and written communication abilities and ability to foster productive relationships.

Responsibilities

• Process and administer financial and non-financial transactions including applications, tax inquiries, 1035 exchanges, maturity notices, transfers, annuity maintenance, disbursements and settlement options.
• Provide excellent customer and producer service via phone, live chat, and email.
• Ensure documents meet legal/contractual and regulatory requirements.
• Maintain accurate records in the Accounts Payable System to process payments and withdrawals for all payout annuities.
• Update taxation system records and complete manual tax records for all payout annuities.
• Support other team members during peak workload periods and absences.
• Update and maintain Settlement Options records.
• Identify opportunities for process improvements and contribute to projects and SOPs.
• Ensure AML/KYC compliance and internal controls.

Skills

Customer service

Communication skills

Problem solving

Time management

Multi-tasking

Teamwork

Attention to detail

Bilingual Spanish (asset)

Education

University degree or college diploma in financial services

Tools

CRM

AWS Amazon Connect

Microsoft Excel

Job description

Career Opportunity Role Title Annuity Operations Administrator

Purpose of role

The role of Annuity Operations Administrator offers an exciting opportunity to provide service to our US producers as well as our customers’ investments and retirement needs and goals. This includes processing transactions with a high degree of accuracy and providing superior customer service. These requests are varied and are associated with all events that may occur during the life of an annuity contract from setting up new contracts, to settlement options and then finally to the termination of the contract. The Annuity Operations Administrator will administer and maintain all changes related to predominantly US annuities with the opportunity to expand to Canada annuities.

Key Responsibilities

• Administer and transact financial and non-financial transactions (e.g. application processing, tax inquiries, 1035 exchanges, maturity notices, transfers, annuity maintenance, disbursements and settlement options)
• Provide excellent customer and producer service through phone, live chat, and email interactions
• Communicate and correspond with customers, producers, internal departments regarding requests, inquiries, confirmation of changes, taxation etc. within service levels
• Examine all relevant documents to ensure legal and contractual requirements have been met to proceed with requests
• Assess guidelines, rules and regulations to ensure changes meet legislative and corporate requirements
• Maintained accurate records in the Accounts Payable System to process payments and withdrawals for all payout annuities
• Ensure timely and accurate updates of all Valuation spreadsheets and databases
• Complete precise updates on the taxation system and the manual tax records for all payout annuities
• Complete any additional calculations required (i.e., cash values, tax gains, withholding tax)
• Assist and support other team members as required during vacation, absences and peak workload periods
• Update and maintain Settlement Options records
• Achieve or improve on established service level agreements while identifying opportunities for process improvements
• Review, update and/or create standard operating procedure documentation for Annuities
• Support project and strategic initiatives
• Ensure compliance with established procedures, regulatory standards, and internal controls.
• Work with team to identify and mitigate operational risks, ensuring compliance with anti-money laundering (AML) and Know Your Customer (KYC) requirements

Key Qualifications

• Education (minimum required): University degree or college diploma in financial services
• LOMA AAPA, Certificate in Retirement Essentials, or FLMI designation, an asset
• Experience (minimum required): 2 – 3 years of relevant experience within the financial services industry
• Technical aptitude for understanding annuity products
• Bilingual (Spanish) is an asset
• In-depth knowledge of US Annuities practices, products and relevant rules and regulation
• Comprehensive knowledge and understanding of state legislation including taxation is an asset
• Demonstrated strong verbal and written communication abilities with a proven capacity to foster productive relationships both internally and externally
• Committed to delivering exceptional customer service with a collaborative, team-oriented approach
• Skilled in managing daily workflows and consistently meeting deadlines with a strong sense of urgency and accountability for all deliverables
• Capable of working independently while contributing effectively within a collaborative team environment
• Proven ability to identify issues and implement effective solutions, with strong conflict resolution skills
• Demonstrated problem solving, de-escalation, and conflict resolution skills
• Skilled in managing multiple tasks and adjusting priorities in response to shifting demands, while maintaining high productivity and exceptional quality in a dynamic, fast-paced environment
• Proficient knowledge of Microsoft Office suite of products, specifically Excel.
• Solid knowledge of CRM, AWS Amazon Connect is an asset
• Demonstrated mathematical aptitude with attention to detail and accuracy

#LI-Remote

Operation hours

Operation hours of 9:00am - 5:00pm Eastern Time Flexibility for periodic weekend shifts and statutory holidays may also be required to support changing conditions, customer demand, and business needs.

The actual base salary for this position will depend on several factors, including job-related skills, experience, and education. In addition to base pay, eligible employees may participate in a discretionary variable incentive plan, results are subject to both individual and company performance.

Please note that this posting is intended to fill an existing vacancy; however, there may be instances where more than one vacancy is available for the same role.

Equal Opportunity Employment and Inclusion – at Foresters Financial, we are committed to sustaining an equal opportunity environment for all job applicants. We embrace Inclusion, Diversity and Equity (IDE) as a core strategic objective for building strong, innovative teams in which all our employees can show up wholly and authentically as themselves. Foresters Financial strives to provide an accessible candidate experience for prospective employees with different abilities. If you anticipate needing any type of accommodations during the recruitment process, please email [e-mail] in advance of your appointment.

Thank you for choosing Foresters. Only those candidates who will be selected for further consideration will be contacted by our Talent Acquisition Team. Foresters Financial is an international financial services provider with a unique history that began in 1874 when we set out to provide access to life insurance for average, working families. More than 150 years later, we provide life insurance, savings, retirement and investment solutions that help families achieve long-term financial health and security.