What are the responsibilities and job description for the Group Insurance Account Specialist position at Armed Forces Benefits Assoc.?
About Armed Forces Benefit Association (AFBA) and 5Star Life
In 1947, AFBA emerged from the basement of the Pentagon to solve a critical need in support of the military. More than 75 years later, our commitment to those who serve and to solving their unique problems remains core to everything we do. Founded to provide military members with a death benefit no one else would, we continue to embrace our mission and deliver benefits tailored to the real-life needs of all who serve today, including active duty, National Guard, and first responders. Providing protection to those who go in harm’s way, we ensure survivor and other benefits are available to all who serve, defend, and protect our great nation, no matter what. 5Star Life Insurance Company was founded in service and carry that mission today by committing to serve those who serve, from underwriting benefits for military and first responder families to providing coverage to the employees that keep our communities running. Our commitment to our communities – rather than the bottom line- drives our business.
We offer a flexible hybrid work environment, allowing you to enjoy the best of both worlds with 3 days in the office and up to 2 days working remotely each week. This position is in Lincoln, NE.
General Description
This role of Group Administration Specialist will manage a book of business, providing daily administration and maintenance of voluntary group insurance accounts with particular focus on billing and reconciliation of employee life insurance premiums.
Essential Duties and Responsibilities
- Manage and assume ownership of all daily communication activity on group accounts assigned.
- Monitor and audit group account billing for timeliness and accuracy. Make adjustments as needed to correct errors.
- Coordinate/Communicate verbally and in writing with all necessary parties as needed to ensure effective, efficient and up to date status of accounts.
- Reconcile and post incoming premium remittance from group clients accurately and within company standards.
- Maintain accurate and timely records on all premium activities
- Monitor group remittance discrepancy reports and work with group points of contact, brokers, and other third-party administrators to correct billing discrepancies.
- Review and clear aged items in group, general accounting, and policy suspense within required time service standards.
- Draft written correspondence when necessary to communicate with employer group points of contact, group administrators, or individual customers when necessary.
- Manage group payment histories to ensure proper and timely application of premiums
- Provide regular summary reports on any challenges or activities to improve service to our group customers
- Assist with customer calls and inquiries as needed
Education, Licensure, Certification, and Experience
- Bachelor’s Degree (strong preference for accounting or finance) or equivalent experience in financial related industry a plus
- Previous premium and reconciliation experience or subsequent accounting classes, preferred
- Understanding of basic accounting principles, required.
Knowledge, Skills, and Abilities
- Must be very proficient in Microsoft Excel with ability to use Excel analytic tools
- Willingness and ability to learn new systems, tools and processes
- Must have a strong working knowledge of other Microsoft Office applications
- Self-motivated – you are a “go-getter”, minor hurdles do not prevent you from achieving your objectives while working either as part of a team or on a self-directed basis
- Solution oriented – you have a proven record of problem solving and proactively building service improvements or enhancements that benefit the end consumers
- Strong written and verbal communication skills – you are a good listener, clearly articulate your thoughts, and are very persuasive
- Organized – you easily prioritize to maximize your efforts and maintain a strong attention to detail, with an ability to multitask as needed
- Proven track record of excellent customer relations – able to positively connect with all levels of field force, staff, vendors, and customers
- Ability to work independently or within a team environment
Benefits we offer:
- health insurance (medical, dental, and vision)
- flexible spending accounts (medical and dependent care)
- 401k plan with generous employer match
- paid time off
- paid holidays (12)
- life insurance
- short- and long-term disability insurance
- employee assistance program
- professional development & tuition reimbursement
- career growth opportunities
- on-site gym and locker rooms (Alexandria, VA office only)
- friendly, collaborative culture
Qualified people of all races, ethnicities, ages, sex, genders, sexual orientations, national origins, gender identities, marital status, religions, veterans' statuses, disabilities, and any other protected classes are strongly encouraged to apply. As an equal opportunity workplace, we are committed to creating an inclusive environment for all employees. AFBA and 5Star Life Insurance Company endeavors to make reasonable accommodations to the known physical or mental limitations of qualified applicants with a disability unless the accommodation would impose an undue hardship on the operation of our business. If an applicant believes they require such assistance to complete the application or to participate in an interview, or has any questions or concerns, they should contact Human Resources (hr@afba.com). EEO is the Law (Link to external DOL site). AFBA and 5Star Life Insurance Company is an Equal Opportunity Employer and an E-Verify Employer.