What are the responsibilities and job description for the Contract Administration Representative - New Business Operations position at Group 1001?
Group 1001 is a consumer-centric, technology-driven family of insurance companies on a mission to deliver outstanding value and operational performance by combining financial strength and stability with deep insurance expertise and a can-do culture. Group1001’s culture emphasizes the importance of collaboration, communication, core business focus, risk management, and striving for outcomes. This goal extends to how we hire and onboard our most valuable assets – our employees.
Why This Role Matters
This role is part of the new business processing team for Delaware Life & Annuities. As a Contract Administration Representative, you will be responsible for reviewing and processing the applications and taking case ownership to ensure the transactions are completed timely and accurately. In addition, you will assist with other types of transactions for both Variable and Fixed Annuity policies
How You'll Contribute:
Employees who meet benefit eligibility guidelines and work 30 hours or more weekly, have the ability to enroll in Group 1001’s benefits package. Employees (and their families) are eligible to participate in the Company’s comprehensive health, dental, and vision insurance plan options. Employees are also eligible for Basic and Supplemental Life Insurance, Short and Long-Term Disability. All employees (regardless of hours worked) have immediate access to the Company’s Employee Assistance Program and wellness programs—no enrollment is required. Employees may also participate in the Company’s 401K plan, with matching contributions by the Company.
Group 1001, and its affiliated companies, is strongly committed to providing a supportive work environment where employee differences are valued. Diversity is an essential ingredient in making Group 1001 a welcoming place to work and is fundamental in building a high-performance team. Diversity embodies all the differences that make us unique individuals. All employees share the responsibility for maintaining a workplace culture of dignity, respect, understanding and appreciation of individual and group differences.
Why This Role Matters
This role is part of the new business processing team for Delaware Life & Annuities. As a Contract Administration Representative, you will be responsible for reviewing and processing the applications and taking case ownership to ensure the transactions are completed timely and accurately. In addition, you will assist with other types of transactions for both Variable and Fixed Annuity policies
How You'll Contribute:
- Process and review new business annuity applications to issue the business accurately and in a timely manner
- Accurately enter data into the system, suitability reviews, manage those not in good order (NIGO) and resolve outstanding issues with agents.
- Learning, retaining, and updating one's knowledge of a wide variety of financial product information and internal processes and procedures, while adhering to strict financial industry rules and regulations.
- Assist with processing other types of maintenance and withdrawal transactions as needed.
- Provide information regarding contract values, contract status updates, withdrawals, fund performance, outstanding issue requirements, 1035 exchanges, IRA and Qualified Plan transfers and rollovers, agent licensing, and commissions for new business.
- Support both Agent/Advisors and Clients with all new business operations.
- Assist in special projects as needed.
- High School Diploma or GED equivalent required, Bachelor's Degree preferred
- 3 years of operational/customer service or processing experience or a combination is required
- Strong verbal and written communication skills
- Strong problem-solving skills and experience working in a fast-paced environment
- Prior experience in financial services knowledge of the annuity market, with specific focus on the fixed, fixed indexed and variable annuities is preferred
Employees who meet benefit eligibility guidelines and work 30 hours or more weekly, have the ability to enroll in Group 1001’s benefits package. Employees (and their families) are eligible to participate in the Company’s comprehensive health, dental, and vision insurance plan options. Employees are also eligible for Basic and Supplemental Life Insurance, Short and Long-Term Disability. All employees (regardless of hours worked) have immediate access to the Company’s Employee Assistance Program and wellness programs—no enrollment is required. Employees may also participate in the Company’s 401K plan, with matching contributions by the Company.
Group 1001, and its affiliated companies, is strongly committed to providing a supportive work environment where employee differences are valued. Diversity is an essential ingredient in making Group 1001 a welcoming place to work and is fundamental in building a high-performance team. Diversity embodies all the differences that make us unique individuals. All employees share the responsibility for maintaining a workplace culture of dignity, respect, understanding and appreciation of individual and group differences.