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Contract Administrative Representative in Indianapolis, IN at Vaco

Date Posted: 5/13/2019

Job Snapshot

Job Description

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

Our client is seeking an experienced Annuity contract administration representative. The representative will be processing a variety of Annuity transactions, including but not limited to: review and input of new business applications, financial and non-financial transactions for existing annuity contracts, 1035 exchanges, importing incoming faxes, and preparing and binding outgoing contracts.

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 by Customer Service Call Center.

• 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.

• Reviews and imports incoming faxes into Onbase workflow

*2 years' experience in insurance industry (administration, new business or claims) with a solid understanding of life insurance/annuity products.