What are the responsibilities and job description for the PCG Insurance Operations Specialist position at Stephens Default?
Essential Duties & Responsibilities
- Assist financial consultants in completing life insurance, annuity, long-term care, and disability applications
- Verify and request financial consultant’s licenses status, affiliations, and appointments
- Ensure applications and documents are in good order for compliance and submission
- Complete and review OFAC checks on each client who applies for insurance; assess any issues and evaluate to Compliance Department if needed or reject applications for corrective edits
- Submit insurance applications, follow up to insure that policies are correctly issued; review policies for discrepancies, and confirm that commissions are paid correctly
- Work with carrier underwriters to establish underwriting class for pre-underwriting and life insurance quotes
- review and ensure compliance with state and federal regulations governing annuities, life insurance, and long-term care; advise management of changes or trends in the regulatory environment
- Determine if applications may present regulatory or compliance risk and send for corrective action
- Provide quotes and run life illustrations with appropriate assumptions as required
- Assist financial consultants with life insurance and annuity death claims
- Assist with customer service requests as needed
- Manage calls and e-mails from advisors and clients regarding life insurance, annuities, LTC, and disability insurance
- Respond to customer requests, provide information, and resolve problems
- Perform other tasks as assigned by management
Education and/or Experience
- College degree or equivalent workforce experience; advanced certifications (e.g., FALU or FLMI) are a plus.
- Minimum 5 years’ experience in life insurance and annuities management or life insurance underwriting
Knowledge, Skills and Abilities
- Be familiar with different life insurance products
- Knowledge of life insurance case design and the ability to run new business illustrations
- Familiar with life insurance underwriting process
- Excellent verbal, written and organizational skills
- Attention to detail with emphasis on accuracy and quality
- Self-starter with the ability to manage time effectively, prioritize work to balance multiple projects, and meet deadlines with minimal supervision
- Strong analytical, critical thinking and problem-solving skills with the ability to determine the appropriate action
- Establish and maintain effective working relationships at all levels of the organization
- Ability to maintain confidentiality
Qualifications
- Strong understanding of life insurance products
- Strong understanding of Long-Term Care and Disability is preferred
- Prior experience with the life insurance underwriting process
- Experience with life insurance case design
- Proficient in Microsoft Office Suite
- High degree of professionalism and excellent customer service skills
Certificates, Licensing, Registrations
- Life & Health Insurance License required (if no longer active, must be renewed within 6 months of hire date)