Annuity Payout Customer Service Lead

American International Group Brentwood , TN 37024

Posted 2 months ago

Functional Area:

OP - Operations

Estimated Travel Percentage (%): Up to 25%

Relocation Provided: Yes

AIG Employee Services, Inc.

Your Future Team

DSA Re: In 2016, AIG created a third reporting segment, Legacy, to manage non-core assets and liabilities, and businesses in run-off, with the objective of balancing the benefits of return of capital or capital redeployment, with potential near-term reductions in book value. The launch of the DSA Re entity in 2017 was an important early step in achieving that objective. AIG continued the DSA Re strategy by announcing a strategic partnership with The Carlyle Group to achieve the long-term vision for DSA Re. DSA Re currently reinsures $36 billion of AIG's Legacy Life and Annuity and General Insurance liabilities. DSA Re's diversified risk portfolio, strong claims operation, and efficient administration capabilities provide the foundation for a platform that can be scaled over time to offer unique solutions to external parties. AIG and Carlyle plan to build DSA Re into a standalone platform with financial strength that complements its strategically differentiated capabilities. For more information, please visit http://www.aig.com/investor-relations.

Your Contribution at AIG/DSA Re

As a part of our Annuity Servicing team, you will report to the Annuity Manager and support the Annuity Lines of Business. You will be on the "front line" providing exceptional customer service ensuring support to both internal and external parties with a wide range of service functions, consistently meeting service level and performance targets in terms of volume, accuracy and quality. As a contributor at AIG you are the one our clients turn to in times of need. You will act with speed, composure, compassion and knowledge to solve problems and the work you do every day is the heart of AIG's business.

Daily responsibilities will require you to wear several hats throughout the day. Specifics include:

  • Customer Service

  • Ensure each client interaction provides stellar quality service with established standards.

  • Handle callbacks, emails and letter inquiries for both internal and external clients.

  • Handle Customer Complaints and recommend exception processing.

  • Handle escalated issues with appropriate attention and actions.

  • Research various databases for missing beneficiary information or unclaimed funds.

  • Accounting and Operations Processing

  • Perform account balancing, correct accounting errors and pension payments.

  • Process moderately complex to complex routine and non-routine transactions.

  • Process the set up and Calculations of third party pension payouts while working in conjunction with multiple third party coordinators.

  • Operations and Contract Maintenance

  • Perform all post sale requests including policy questions, address changes, , Payout processing including balancing, stops/reissues, fund transfers, and monthly/quarterly statement mailings, proper tax reporting of client disbursements.

  • Provide prompt and accurate service involving the handling of Annuity functions in the Administrative Service area.

  • Execute defined calculations based policy provisions: such as calculate age adjustments for claims, calculate settlement adjustments as necessary.

  • Handle Periodic Payments related to Settlement Options.

  • Perform periodic system maintenance tasks such as updating tables.

  • Perform system testing for IT corrections and enhancements.

  • Provide death claim forms (packets) to beneficiaries upon notification of a claim, including appropriate required state forms; reviewing completed returned forms/death certificates and completing claim by either issuing check or recording and updating the file for spousal continuation when all proper steps are completed.

  • Review periodic reports and take appropriate action.

  • Procedures and Training

  • Responsible for keeping training documentation updated.

  • Provide training for new employees as well as cross-training within company.

  • Provide explanation and documentation for Internal, External and Third party audit requests.

  • Assist with ensuring key controls are in place and Business/Financial guidelines are followed.

What we are looking for

  • Bachelor's Degree is preferred or equivalent experience in the insurance industry.

  • Annuity Background of at least 5 years in a processing environment where customer calls were routed as well as research performed.

  • SPIA and payout experience specifically with variable annuities experience a plus.

  • Candidate should possess the ability to see and understand the big picture so they can recommend adjustments to the process to achieve efficiency and better customer service.

  • Experience with SPIA payout annuities including variable annuity processing.

  • Familiarity with tax process which includes 1099's a plus.

  • Strong computer skills including Word and Excel are required. Knowledge and experience with RPS15 and NaviSys insurance processing system, CA View and AWD a plus.

  • Ability to interpret contract language a plus.

  • Candidates must be able to manage, organize and complete all activities on a daily basis.

  • Good oral and written communication and excellent customer service skills.

  • Candidate must be able to analyze and research routine inquiries received in both written and verbal form from clients and determine appropriate action. Respond with accurate information in a courteous manner by the date and time promised.

  • Must be able to attain knowledge of various internal computer programs and the ability to manipulate multiple screens simultaneously.

  • Strong analytical and critical thinking skills.

  • Must have proven problem-solving abilities.

  • Must be detail oriented.

It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

At AIG, we believe that diversity and inclusion are critical to our future and our mission creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.


See if you are a match!

See how well your resume matches up to this job - upload your resume now.

Find your dream job anywhere
with the LiveCareer app.
Download the
LiveCareer app and find
your dream job anywhere
lc_ad

Boost your job search productivity with our
free Chrome Extension!

lc_apply_tool GET EXTENSION

Similar Jobs

Want to see jobs matched to your resume? Upload One Now! Remove
Annuity Customer Service Processor

American International Group

Posted 2 months ago

VIEW JOBS 10/2/2018 12:00:00 AM 2018-12-31T00:00 Functional Area: OP - Operations Estimated Travel Percentage (%): Up to 25% Relocation Provided: Yes AIG Employee Services, Inc. Annuity Customer Service Processor Your Future Team DSA Re: In 2016, AIG created a third reporting segment, Legacy, to manage non-core assets and liabilities, and businesses in run-off, with the objective of balancing the benefits of return of capital or capital redeployment, with potential near-term reductions in book value. The launch of the DSA Re entity in 2017 was an important early step in achieving that objective. AIG continued the DSA Re strategy by announcing a strategic partnership with The Carlyle Group to achieve the long-term vision for DSA Re. DSA Re currently reinsures $36 billion of AIG's Legacy Life and Annuity and General Insurance liabilities. DSA Re's diversified risk portfolio, strong claims operation, and efficient administration capabilities provide the foundation for a platform that can be scaled over time to offer unique solutions to external parties. AIG and Carlyle plan to build DSA Re into a standalone platform with financial strength that complements its strategically differentiated capabilities. For more information, please visit http://www.aig.com/investor-relations. Your Contribution at AIG/DSA Re As a part of our Annuity Servicing team, you will report to the Annuity Manager and support the Annuity Lines of Business. You will be on the "front line" providing customer service ensuring exceptional customer support to both internal and external parties with a wide range of service functions, consistently meeting service level and performance targets in terms of volume, accuracy and quality. As a contributor at AIG you are the one our clients turn to in times of need. You will act with speed, composure, compassion and knowledge to solve problems and the work you do every day is the heart of AIG's business. Responsibilities include: * Customer Service * Ensure each client interaction provides stellar quality service with established standards. * Handle callbacks, emails and letter inquiries for both internal and external clients. * Handle customer complaints. * Research various databases for detail data in order to service the customer timely and accurately. * Accounting and Operations Processing * Perform account balancing and correct accounting errors. * Process moderately complex to complex routine and non-routine transactions. * Process the set up and calculations of third party pension payouts while working in conjunction with multiple third party coordinators. * Operations and Contract Maintenance * Perform all post sale requests including policy questions, address changes, Payout processing including balancing, stops/reissues, fund transfers, and monthly/quarterly statement mailings, proper tax reporting of client disbursements. * Provide prompt and accurate service involving the handling of Payout Annuity functions in the Administrative Service area. * Requires the ability to execute defined calculations based policy provisions: such as calculate age adjustments for claims, calculate settlement adjustments as necessary. * Handle Periodic Payments related to Settlement Options. * Provides death claim forms (packets) to beneficiaries upon notification of a claim, including appropriate required state forms; reviewing completed returned forms/death certificates and completing claim by either issuing check or recording and updating the file for spousal continuation when all proper steps are completed. * Review periodic reports and take appropriate action. * Procedures and Training * Responsible for keeping training documentation updated. * Assist with ensuring key controls are in place and Business/Financial guidelines are followed. Requirements: * Bachelor's Degree is preferred or equivalent experience in the insurance industry. * Annuity product background with 3 years plus in a processing environment where customer calls were routed as well as research performed. * Experience with SPIA payout annuities including variable annuity processing. * Familiarity with tax process which includes 1099's a plus. * Strong computer skills including Word and Excel are required. Knowledge and experience with RPS15/Navisys insurance processing system, CA View and AWD a plus. * Ability to interpret contract language a plus. * Career driven with a desire to grow in responsibilities and driven to excel in their day to day performance. * Candidates must be able to manage, organize and complete all activities on a daily basis. * Good oral and written communication and excellent customer service skills. * Candidate must be able to analyze and research routine inquiries received in both written and verbal form from clients and determine appropriate action. Respond with accurate information in a courteous manner by the date and time promised. * Must be able to attain knowledge of various internal computer programs and the ability to manipulate multiple screens simultaneously. * Strong analytical and critical thinking skills. * Must have proven problem-solving abilities. * Must be detail oriented. It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories. At AIG, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives. American International Group Brentwood TN

Annuity Payout Customer Service Lead

American International Group