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Service Team Processing Representative, Fixed Annuities
NYLIFE Securities, Inc.
Dallas, TX, United States
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New York Life Insurance Company (“New York Life” or “the company”) is the largest mutual life insurance company in the United States*. Founded in 1845, New York Life is headquartered in New York City, maintains offices in all fifty states, and owns Seguros Monterrey New York Life in Mexico.
New York Life is one of the most financially strong and highly capitalized insurers in the business. The company reported 2016 operating earnings of $1.954 billion. Total assets under management at year end 2016, with affiliates, totaled $538 billion. As of year-end 2016, New York Life’s surplus was $23.336 billion**. New York Life holds the highest possible financial strength ratings currently awarded to any life insurer from all four of the major ratings agencies: A.M. Best, A++; Fitch AAA; Moody’s Aaa; Standard & Poor’s AA+. (Source: Individual Third Party Ratings Report as of 8/17/16).
Financial strength, integrity and humanity—the values upon which New York Life was founded—have guided the company’s decisions and actions for over 170 years.
Under the direction of the Manager, the Representative must work to achieve the goals of their team by working both independently and with other members of the team in order to provide accurate and efficient service to our agents and clients on telephone and written requests. The Representative will have a solid understanding of Fixed and Income Annuity Products and the systems that support our products in order to perform basic duties.
Primary Responsibilities
• Provide service to our agents and clients by providing policy information and processing transactions in response to written requests. The representative will also occasionally provide service via telephone based on business needs through back up support to the call center.
• Within regulatory guidelines, review and process inforce business transactions using systems such as Mainframe, Fixed Annuity Cyberlife and Rpay. Transactions consist of Partial Withdrawals (normal and Required Minimum Distributions), Periodic Partial Withdrawals and Disbursements (Internal/External Exchanges and Transfers and Direct to Customer), Correspondence, Check Stop and Reissue, Duplicate Policies, Returned Mail and Maturities
• Develop knowledge and skills to process complex transactions related to tax, value calculation and contract creation
• Initiate wire transfers and checks
• Maintain good working knowledge of our administration systems, products and services
• Compose accurate agent and client correspondence
Qualifications
• High School/GED required (Associates Degree, or Bachelor's degree preferred)
• 2 years of customer service or other related experience preferred
• Excellent customer service and active listening skills
• Detail orientation with ability to multitask
• Strong oral and written communication abilities
Training & Development:
Customer Service Representatives undergo a comprehensive paid on-site training program to learn about the insurance industry, product and policy provisions and transaction processing. Coaching and feedback is provided to help you gain the necessary skills to be successful.
Shift Information:
This is a full-time position Monday through Friday. Candidates should be flexible to work any 7.5-hour shift between 8am – 6pm during the work week.
Salary
Competitive full-time base salary, overtime eligibility plus target bonus
Benefits
Paid Vacation, Health Care, 401K match, Pension Plan, Tuition Assistance, Flexible Spending Accounts
Career Opportunities
New York Life offers a variety of corporate opportunities within the Service Organization, including management, quality control, training, underwriting and claims.
EOE M/F/D/V
*Based on revenue as reported by “Fortune 500, ranked within Industries, Insurance: Life, Health (Mutual),” Fortune Magazine, June 17, 2016. See http://fortune.com/fortune500/ for methodology.
**Total surplus, which includes the Asset Valuation Reserve, is one of the key indicators of the company’s long-term financial strength and stability and is presented on a consolidated basis of the company.
1. Operating earnings is the key measure use by management to track Company’s profitability from ongoing operations and underlying profitability of the business. This indicator is based on generally accepted accounting principles in the US (GAAP), with certain adjustments Company believes to be appropriate as a measurement approach (non GAAP), primarily the removal of gains or losses on investments and related adjustments.
2. Assets under management represent Consolidated Domestic and International insurance Company Statutory assets (cash and invested assets and separate account assets) and third party assets principally managed by New York Life Investment management Holdings LLC, a wholly owned subsidiary of New York Life Insurance Company.