Principal Operations Specialist

Unified Life Insurance; Indianapolis (IN); On-site; USD 70,000 - 100,000; Full time

Job summary

Unified Life Insurance in Indianapolis seeks a Principal Operations Specialist to serve as a subject matter expert for annuity processing, including claims, new business, policy services, and tax reporting. The role emphasizes comprehensive research, cross-functional collaboration, and guidance to resolve complex system and processing issues.

The ideal candidate will have 5+ years in insurance administration or claims, strong communication, and proficiency with LifeFit, OnBase, and CRM systems.

Qualifications

• Ability to report to the Indianapolis office five days per week.
• Prefer associate’s degree in business or equivalent training or experience.
• Professional designations such as ALMI, ACS, FSRI/ASRI, and/or AIRC or demonstrated work toward designations.
• Prefer 5+ years’ experience in insurance administration and/or claims.
• Advanced knowledge of Alta Life and Annuity products and processing procedures, Lifefit, OnBase, accounting transactions and how to make correcting transactions.
• Demonstrated knowledge of annuity contracts and income tax applications required.
• Strong communication skills, including oral and written skills.
• Ability to prioritize workflow, establish and meet deadlines, and manage multiple concurrent tasks.
• Flexibility in scheduling of daily activities.
• Able to learn quickly and understand multiple complex administration systems.
• Excellent computer skills with thorough understanding of MS Word and Excel and client relationship management (CRM) applications

Responsibilities

• Responds to and resolves customer and agent service requests according to Unified Life Insurance policies in a prompt, efficient, and courteous manner for external customers, agents, departmental staff, and other personnel at all times.
• Coordinates the development and maintenance of process and standard operating procedure documentation and represents the business in defining business requirements for IT initiatives, including continuous improvement efforts.
• Provides expertise and guidance for processing and issuing new business contracts, administering all financial and non-financial transactions for contract holders, income tax reporting, and annuity claim administration.
• Runs check and EFT/ACH reports, verifies EFT/ACH returns, and processes reversals of transactions due to corrections on EFT/ACH and checks.
• Researches, analyzes and processes in-depth and complex contract administration transactions and processes. Reviews reversals and reapplies or reprocesses due to valuation, reconciles outstanding EAS items, tests new enhancements to LifeFit, OnBase (workflow) and Customer Relationship Management (CRM-Salesforce/Microsoft Dynamics) systems, quality checks distribution transactions, and works with IT to correct production system errors.
• Ensures accounting reconciliations of daily Administration processing in LifeFit are complete and timely, and assists with the monthly reconciliation of suspense accounts.
• Provides training and coaching to representatives and other technical guidance to ensure that Administration processing tasks are completed in an accurate and timely manner, with a high degree of accuracy and professionalism toward internal and external customers.
• Accesses escheat tracking and processing for outstanding disbursements and death claims, reverses/reissues contracts, reviews Lexis/Nexis and compares LifeFit for deaths. Also corrects errors that occur within Sircon.
• Coordinates efforts with other lead representatives and manager for scheduling work and daily activity.
• Assists with Taxport tax information, including reconciling and balancing monthly tax files, and working with IT for system tax updates. Involved with year end balancing/reconciliation for 1099 and 5498 tax documents.
• Assists with producing annual income tax reporting, system testing, and documenting department policies and procedures.
• Assists with gathering information to satisfy requests from both internal and external auditors.
• Assists with a variety of management reports, including providing input for performance evaluations.
• Assists management as needed with the coordination of cross department projects.
• Performs other duties as assigned.

Skills

Communication

Prioritization

Multitasking

Learning agility

MS Word/Excel

CRM software

Attention to detail

Education

Associate degree in business

ALMI/ACS/FSRI/ASRI/AIRC

5+ years experience

Alta Life knowledge

Tools

OnBase

Lifefit

Job description

Position Overview

The Principal Operations Specialist is a subject matter expert for the processing and administration of annuity contracts, including claims, new business, policy services, agency services, tax, financial transactions, controls, and cross-functional escalations. The role builds backup expertise across these complex operational areas to reduce key-person dependency and strengthen operational continuity, while providing guidance and expertise to resolve in-depth system and annuity processing problems.

The Principal Operations Specialist completes thorough research and analysis of outstanding contract issues, including suspense accounts, tax issues, quality control and system reporting. May coordinate test plans for enhancements and/or new system features, assist with processing transactions for new business, policy services, or agency as needed, and provide Annuity technical support for internal departments.

Responsibilities:

• Responds to and resolves customer and agent service requests according to Unified Life Insurance policies in a prompt, efficient, and courteous manner for external customers, agents, departmental staff, and other personnel at all times.
• Coordinates the development and maintenance of process and standard operating procedure documentation and represents the business in defining business requirements for IT initiatives, including continuous improvement efforts.
• Provides expertise and guidance for processing and issuing new business contracts, administering all financial and non-financial transactions for contract holders, income tax reporting, and annuity claim administration.
• Runs check and EFT/ACH reports, verifies EFT/ACH returns, and processes reversals of transactions due to corrections on EFT/ACH and checks.
• Researches, analyzes and processes in-depth and complex contract administration transactions and processes. Reviews reversals and reapplies or reprocesses due to valuation, reconciles outstanding EAS items, tests new enhancements to LifeFit, OnBase (workflow) and Customer Relationship Management (CRM-Salesforce/Microsoft Dynamics) systems, quality checks distribution transactions, and works with IT to correct production system errors.
• Ensures accounting reconciliations of daily Administration processing in LifeFit are complete and timely, and assists with the monthly reconciliation of suspense accounts.
• Provides training and coaching to representatives and other technical guidance to ensure that Administration processing tasks are completed in an accurate and timely manner, with a high degree of accuracy and professionalism toward internal and external customers.
• Accesses escheat tracking and processing for outstanding disbursements and death claims, reverses/reissues contracts, reviews Lexis/Nexis and compares LifeFit for deaths. Also corrects errors that occur within Sircon.
• Coordinates efforts with other lead representatives and manager for scheduling work and daily activity.
• Assists with Taxport tax information, including reconciling and balancing monthly tax files, and working with IT for system tax updates. Involved with year end balancing/reconciliation for 1099 and 5498 tax documents.
• Assists with producing annual income tax reporting, system testing, and documenting department policies and procedures.
• Assists with gathering information to satisfy requests from both internal and external auditors.
• Assists with a variety of management reports, including providing input for performance evaluations.
• Assists management as needed with the coordination of cross department projects.
• Performs other duties as assigned.

Education and Qualifications:

• Ability to report to the Indianapolis office five days per week.
• Prefer associate’s degree in business or equivalent training or experience.
• Professional designations such as LOMNs Associate Life Management Institute (ALMI), Associate Customer Service (ACS), Fellow/Associate Secure Retirement Institute (FSRI/ASRI), and/or Associate Insurance Regulatory Compliance (AIRC) or demonstrated work toward achieving designations.
• Prefer 5 + years’ experience in insurance administration and or claims.
• Advanced knowledge of Alta Life and Annuity products and processing procedures, Lifefit, OnBase, accounting transactions and how to make correcting transactions.
• Demonstrated knowledge of annuity contracts and income tax applications required.
• Strong communication skills, including oral and written skills
• Ability to prioritize workflow, establish and meet deadlines, and manage multiple concurrent tasks
• Flexibility in scheduling of daily activities
• Able to learn quickly and understand multiple complex administration systems
• Excellent computer skills with thorough understanding of MS Word and Excel and client relationship management (CRM) applications