Under general supervision manages all disbursements and related tasks for 3 systems and 900+ products and riders. Handles manual complex calculations when needed to ensure correct distributions and minimize gain/loss.
Primary Duties and Responsibilities
Processes all disbursement transactions including surrenders, loans, 1035 exchanges, partial surrenders, dividend withdrawals and maturity surrenders , ensuring all requirements have been satisfied prior to processing, and ensuring all requirements are met for disbursement within SOX controls for outgoing money.
Processes all transfers and rebalances of variable COLI plans accurately and timely with no gain/loss Processes all death claim terminations on three systems for all products upon verification of requirements.
Manually calculates policy gain for all LifeSys policies and verifies gain for all policies on Andesa and LifePro prior to processing surrenders or maturities and upon request.
Manually calculates values when needed for products or riders that are not fully supported on the system they reside on.
Strong understanding of accounting system SAP in order to effectively disburse money and make adjustments as needed to ensure accuracy of the disbursement.
Researches and correct error messages produced in LifeSys for Maturities or Expiries.
First line representative for other disbursements related issues or special exceptions.
Direct communication with clients when needed, through phone, email or correspondence.
Provide backup assistance to Policy Change Rep.
Background and Qualifications
Associates degree in Business or equivalent experience
Other Preferred Qualifications:
Strong knowledge of Microsoft Office
Demonstrate ability to learn multiple systems and multiple products lines in order to efficiently manage job accountabilities.
Solid accounting experience and expertise
Excellent communication and organizational skills
Demonstrate understanding of administration and clerical processes
Working Conditions/Physical Requirements Normal Office Working Conditions
Disclaimer: The above statements are intended to describe the general nature and level of work being performed by individuals assigned to this job.
At Great-West Financial® and Empower Retirement, our more than 5,700 global associates are dedicated to helping customers secure their financial futures. We offer a range of retirement savings products, life insurance, annuities and investment services from offices across the country. If you’re interested in joining a company that enjoys a record of strong performance and is rich in history yet innovative, bold and transformative, then our organization is an outstanding place for you to grow and succeed. We’re an equal opportunity employer dedicated to workforce diversity. We’re also committed to providing a drug-free workplace.
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