What are the responsibilities and job description for the Settlement Option Specialist position at WoodmenLife?
Job Title: Settlement Option Specialist
This is an in-office position that does not have the capability for remote work.
WoodmenLife is looking to hire a Settlement Option Specialist to join our team!
In this role, you will analyze and make payment of matured endowment claims, interest income of annuities, systematic withdrawals and partial withdrawals of annuity products, required minimum distributions, full and partial surrenders of settlement option contracts, and death claims on settlement option contracts. Also issues and maintains settlement option contracts.
WoodmenLife is one of the best places to work in Omaha with over 135 years of service. As a member of the WoodmenLife family, you’re joining others who share your commitment to family, community and country. Through WoodmenLife, you’ll have opportunities to give back locally and honor those who make an impact. As a not-for-profit life insurance company, we’ve been helping to protect the financial future of families, making a difference in hometowns across America since 1890. We offer a variety of benefits ranging from health, dental, vision, 401K, life insurance and much more. Apply today to learn more!
We are looking for someone to:
We need someone who has:
As part of WoodmenLife’s employment process, candidates will be required to complete a criminal background check, credit check (when required for position), fingerprint check (when required for position), drug screen and reference checks. Any offer of employment will be contingent upon successfully passing the above.
WoodmenLife is welcoming to all regardless of background and beliefs. WoodmenLife respects every associate’s unique perspective and contribution. We are committed to creating an environment that values differences, and creates opportunities for growth, leadership and service. This commitment includes providing equal opportunity in recruitment, employment and promotion, training and community outreach. WoodmenLife is also dedicated to strengthening the communities in which its employees live.
APPLICANTS WITH DISABILITIES SHOULD ADVISE THE HUMAN RESOURCES DEPARTMENT AT THE TIME OF APPLICATION IF SPECIAL ACCOMMODATIONS ARE NEEDED.
Woodmen of the World Life Insurance Society (WoodmenLife) is an equal opportunity employer.
This is an in-office position that does not have the capability for remote work.
WoodmenLife is looking to hire a Settlement Option Specialist to join our team!
In this role, you will analyze and make payment of matured endowment claims, interest income of annuities, systematic withdrawals and partial withdrawals of annuity products, required minimum distributions, full and partial surrenders of settlement option contracts, and death claims on settlement option contracts. Also issues and maintains settlement option contracts.
WoodmenLife is one of the best places to work in Omaha with over 135 years of service. As a member of the WoodmenLife family, you’re joining others who share your commitment to family, community and country. Through WoodmenLife, you’ll have opportunities to give back locally and honor those who make an impact. As a not-for-profit life insurance company, we’ve been helping to protect the financial future of families, making a difference in hometowns across America since 1890. We offer a variety of benefits ranging from health, dental, vision, 401K, life insurance and much more. Apply today to learn more!
We are looking for someone to:
- Processes settlement option requests including issuing the contract, complying with certificate provisions, state insurance and tax laws, with an independent approval limit up to $40,000.
- Processes disbursements with an independent approval limit up to $250,000, notifies contract owner of expired contracts, pays death claims and makes payment to beneficiaries.
- Sets up claims for certificates that are reaching maturity. Notifies members of options, processes payment election or makes contract changes to the certificate to allow it to remain in effect.
- Processes interest payments and systematic withdrawals on annuity products. Calculates and processes required minimum distributions for qualified annuities, systematic withdrawals and settlement options for Variable Annuity products.
- Complies with requests for duplicate checks, corrected tax forms, duplicate annual statements, address changes and banking changes.
- Processes beneficiary changes in accordance with the Constitution and Laws.
- Calls funeral homes for information to pay death claims for face amounts of $30,000 or less.
- Receives notifications of outstanding checks from Auditing and Information Management. Sends written communication to certificate owners as notification of uncashed checks and provides the option of issuing a duplicate check if needed.
- Works cohesively with all of Core Operations Business Units to ensure that work is completed according to section guidelines.
- Shares knowledge and/or customer service experiences with the team to help improve the customer experience.
- Continually reviews and analyzes the workflow to provide efficient service and meet service level goals. Makes recommendations for changes that enhance the process and improve customer service.
- Adheres to Core Operation’s Behavioral Standards including focusing on solutions, being open to feedback and dialogue, taking initiative, and be involved and accountable.
- Meets expectations for attendance and punctuality in accordance with the expectations established by your supervisor and WoodmenLife policy.
- Performs other duties as assigned by management.
We need someone who has:
- High school diploma or equivalent education/experience.
- Strong computer skills with typing 40 wpm with emphasis on accuracy.
- Excellent written and verbal communication skills.
- Ability to analyze, interpret, and clearly communicate information to others.
- Self-motivated.
- Demonstrated problem-solving and decision-making skills.
- Ability to work with a high level of concentration and attention to detail.
- Ability to organize and prioritize work in order to effectively meet deadlines.
- Ability to maintain confidentiality, sensitivity and professionalism.
- Possesses knowledge of Society products.
- Possesses in-depth knowledge of policies and procedures for area.
As part of WoodmenLife’s employment process, candidates will be required to complete a criminal background check, credit check (when required for position), fingerprint check (when required for position), drug screen and reference checks. Any offer of employment will be contingent upon successfully passing the above.
WoodmenLife is welcoming to all regardless of background and beliefs. WoodmenLife respects every associate’s unique perspective and contribution. We are committed to creating an environment that values differences, and creates opportunities for growth, leadership and service. This commitment includes providing equal opportunity in recruitment, employment and promotion, training and community outreach. WoodmenLife is also dedicated to strengthening the communities in which its employees live.
APPLICANTS WITH DISABILITIES SHOULD ADVISE THE HUMAN RESOURCES DEPARTMENT AT THE TIME OF APPLICATION IF SPECIAL ACCOMMODATIONS ARE NEEDED.
Woodmen of the World Life Insurance Society (WoodmenLife) is an equal opportunity employer.
Salary : $30,000 - $250,000
