In-Force Annuity Transaction Specialist

Axonic Insurance Services LLC; United States; On-site; USD 55,000 - 75,000; Full time

Job summary

Axonic Insurance Services LLC is seeking an In-Force Transaction Specialist to process financial and contractual transactions on existing fixed annuity contracts, including withdrawals, RMDs, and death claims. You will ensure requests are accurate, properly authorized, documented, and completed within required timeframes.

Ideal candidates have 2+ years in annuity or life insurance administration, strong attention to detail, solid judgment, and the ability to own transactions from receipt to

Qualifications

• 2+ years of annuity or life insurance administration experience.
• Hands-on experience processing financial transactions including withdrawals, surrenders, RMDs, or death claims.
• Knowledge of contract provisions, tax withholding, and transaction controls.
• Ability to interpret forms and calculate transaction values accurately.
• Detail-oriented with strong documentation and organizational skills.

Responsibilities

• Process withdrawals and surrenders, verifying completeness and compliance.
• Process RMD requests and maintain payment, withholding, and records.
• Calculate/validate death benefits and coordinate beneficiary payments.
• Perform transaction reviews, validations, and quality-control checks in systems.
• Follow regulatory requirements for claims, tax reporting, privacy, and record retention.
• Manage work queues to meet deadlines and service standards.

Skills

Attention to detail

Transaction processing

Communication skills

Team collaboration

Education

High school diploma or equivalent

Associate or bachelor's degree preferred

Job description

Axonic Insurance is seeking an In-Force Transaction Specialist to process financial and contractual transactions on existing fixed annuity contracts, including withdrawals, required minimum distributions (RMDs), and death claims. This role ensures policyholder and beneficiary requests are accurate, properly authorized, fully documented, and completed within required service and regulatory timeframes.

The ideal candidate brings strong attention to detail, sound judgment, and ownership of transactions from receipt through completion, with a focus on protecting customer funds and maintaining effective operational controls.

Key Responsibilities

Withdrawals and Surrenders

• Process partial and systematic withdrawals and full surrenders, reviewing requests for completeness, authorization, and compliance with contract provisions.
• Verify contract values and withdrawal limits; apply applicable surrender charges, market value adjustments, bonus recapture, and other contractual adjustments.
• Process tax withholding elections and approved payment methods, including electronic funds transfers and checks, and maintain complete transaction documentation.
• Escalate requests requiring additional review or approval.

Required Minimum Distributions (RMDs)

• Process one-time and recurring RMD requests for qualified annuity contracts and review relevant contract and customer information.
• Calculate or validate RMD amounts when assigned to the administrator and maintain systematic payment, withholding, and distribution records.
• Obtain missing documentation or elevate unusual requests and support year‑end RMD processing and other time‑sensitive distributions.

Death Claims

• Calculate or validate death benefits in accordance with contract provisions and established procedures.
• Process beneficiary payment elections and tax withholding instructions, apply applicable death‑benefit interest procedures, and coordinate timely payment of approved claims.
• Maintain complete claim files supporting internal audits and regulatory examinations.

Transaction Review and Quality Control

• Confirm assigned transactions are accurate, properly authorized, and supported by required documentation before processing.
• Perform transaction calculations, validations, and quality‑control reviews; ensure accurate entries in administration, workflow, payment, and document‑management systems.
• Correct errors promptly, elevate material issues, and document the basis for transaction decisions and payments.

Regulatory and Compliance Responsibilities

• Follow contract provisions, company procedures, client requirements, and applicable federal and state requirements for claims, tax reporting, withholding, privacy, unclaimed property, and record retention.
• Protect confidential customer information and follow authentication, authorization, payment, and customer‑information‑change controls.
• Recognize and elevate suspected fraud, altered documents, unusual activity, and suspicious payment instructions.
• Maintain records supporting internal audits, carrier reviews, and regulatory examinations.

Operational Responsibilities

• Manage assigned work queues based on regulatory deadlines, service standards, financial impact, and customer needs; meet productivity, accuracy, quality, and turnaround expectations.
• Support reconciliations, exception resolution, and processing or system issue resolution, working with Finance, Compliance, Legal, Technology, and carrier partners as needed.
• Identify recurring issues and recommend improvements; participate in procedure updates, system testing, training, audits, cross‑training, and operational projects.

This role does not provide legal, tax, or investment advice or independently approve exceptions to contractual, regulatory, or company requirements.

Qualifications

• High school diploma or equivalent required; associate or bachelor’s degree preferred.
• 2+ years of experience in annuity or life insurance administration, with hands‑on experience processing financial transactions.
• Experience processing annuity withdrawals, surrenders, RMDs, or death claims; experience across multiple transaction types strongly preferred.
• Working knowledge of annuity contract provisions, tax withholding, beneficiary requirements, and transaction controls.
• Ability to interpret financial services forms, policy provisions, beneficiary designations, and transaction instructions and accurately perform or validate transaction calculations.
• Strong attention to detail, documentation, and organizational skills, with the ability to manage high‑volume work queues and competing deadlines.
• Sound judgment in recognizing processing risks, applying transaction controls, and determining when additional review or escalation is required.
• Strong written and verbal communication skills, with the ability to take ownership of assigned work and collaborate across teams.
• Familiarity with unclaimed property requirements, fraud prevention, and audit or regulatory examination documentation preferred.