Annuity Operations Administrator

foresters; United States; Remote; USD 60,000 - 80,000; Full time

Job summary

Foresters Financial is seeking an Annuity Operations Administrator to support US producers and customers with annuity transactions throughout the contract life cycle, from setup to settlement and termination.

The role involves administering US annuities, with potential expansion to Canada. You will maintain records, ensure compliance, and provide superior service across phone, live chat, and email channels.

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.
• Bilingual Spanish is an asset.
• In-depth knowledge of US annuities practices, products and relevant rules and regulation.
• Strong verbal and written communication abilities with a proven capacity to foster productive relationships.
• Proficient knowledge of Microsoft Excel; CRM, AWS Connect is an asset.

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 with customers, producers, and internal departments regarding requests, inquiries, changes, taxation within service levels.
• Examine documents to ensure legal and contractual requirements are met to proceed with requests.
• Ensure changes meet legislative and corporate requirements.
• Maintain accurate records in the Accounts Payable System to process payments and withdrawals for payout annuities.
• Update valuation spreadsheets and databases timely and accurately.
• Update the taxation system and manual tax records for payout annuities.
• Assist and support team during vacations, peak periods.
• Update and maintain Settlement Options records.
• Meet or improve SLAs and identify process improvements.
• Review/update standard operating procedures for annuities.
• Support project and strategic initiatives.
• Ensure compliance with AML and KYC requirements.

Skills

Financial services experience

US annuities knowledge

Bilingual Spanish (asset)

Strong communication

Excel proficiency

CRM knowledge

Problem solving

Education

University degree or college diploma in financial services

Tools

CRM

AWS Connect

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.

Job Description

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 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 applican