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Contract Administration Representative in Indianapolis, IN at Vaco

Date Posted: 11/21/2018

Job Snapshot

Job Description

Vaco Indianapolis has partnered with a client located North Indianapolis to fill a Contract Administration Representative for a contract to hire opportunity.

Experience in Annuities/ Life Insurance STRONGLY prefferred.

Specific Responsibilities Include but not limited to:

• Reviews, analyzes and processes all new business applications with cash payment or transfer requests, and executes financial transactions related to new business such as establishing systematic distributions of interest or required minimum distributions.

• Processes incoming annuity administration requests which may include partial and full withdrawals, beneficiary and ownership changes, questions regarding complex contract provisions or values, annuitization quotes and illustrations. Researches, responds to and/or processes tasks submitted.

• Processes and completes 1035 exchange requests and transfers by faxing, mailing and resending information to transfer companies.

• Follows up with other financial service institutions, marketing organizations, or agents regarding outstanding requirements, transfer requests, and/or communication regarding outstanding claims.

• Researches and responds to contract owners' inquiries regarding their annuity contracts by telephone, FAX, e-mail and written correspondence.

• Calculates taxable implications of financial transactions and reporting as needed to comply with state and federal regulations. Verifies and makes corrections or additions to Forms1099 or 5498 as needed.

• Proofs, prepares and binds new business contracts for mailing.



    • Prefer Associate's degree in Business or equivalent training or experience.
    • 3 years' experience in insurance industry (administration, new business or claims) with a solid understanding of life insurance/annuity products
      • Must be able to demonstrate knowledge of life insurance products, annuity contracts and income tax applications, with the ability to analyze and understand complex contract requirements, income tax applications and consequences, and regulatory requirements
      • Strong communication skills, including oral and written skills, and ability to communicate complex to others
      • Ability to prioritize workflow, establish and meet deadlines, manage multiple concurrent tasks in order to meet and exceed established production goals and deadlines
      • Flexibility in scheduling and managing multiple priorities and daily activities
      • Able to learn quickly and understand complex administration systems, and adapt quickly and appropriately in response to the evolution of the company, industry and regulatory issues.