Underwriting Assistant or Senior Underwriting Assistant - Annuities & Structured Settlements

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Job description

Company:
NICO National Indemnity Company
As a member of the Berkshire Hathaway group of insurance companies, we offer outstanding opportunities for professionals interested in working with a successful company. We offer unparalleled financial strength, stability and "large company" benefits, in addition to an exciting, friendly, "small company" atmosphere.

Underwriting Assistant - Annuity/Structured Settlements -

Job Objective:
Provides specialized support to the life insurance companies annuity operations and the property/casualty structured settlement operation which may include: a) communication with brokers and company personnel; b) intake and indexing of daily mail and documents, review and coordination of producer appointments and commission payments, premium confirmation letters to brokers, reviewing files for potential current address information, recording information, assisting with contract release and other administrative duties; c) operation of computer and various software/systems to produce a variety of documents such as annuity contract, corporate guarantee, reinsurance agreement, Company forms and correspondence; and d) answer annuitant/claimant structured settlement questions received by phone and written requests. Perform duties independently and maintain strict confidentiality.

Major Duties:
- May be responsible for indexing and setting ImageRight tasks based on the evaluation of incoming mail and categorizing documents submitted by brokers and annuitants/payees based on key criteria. Such items include incoming premium, commission invoices, 3rd party payment transfer documents including court orders, payment acceleration requests, payment acceleration terms and conditions responses, direct deposit (EFT) forms, name, address and beneficiary change documents. Contact brokers, as needed, when documents are illegible or pages are missing. Notify Senior Legal Counsel or Paralegal when court documents are illegible.

- May be responsible for locating lost payees. This includes reviewing annuity and periodic payment reinsurance forms and correspondence to identify potential current address information, calling payees, brokers, attorneys, or fiduciaries, writing and sending correspondence, or requesting an address search be performed. Documents the ImageRight file with efforts and results.

- May be responsible for commission payment processing which includes review of control document to ensure commission amount is accurate, review of agency and individual appointment status, requests invoices and commission sharing agreements from brokers, resolves discrepancies with brokers and/or CT office, prepares commission payment authorizations in company software, routes authorizations for authorized signatures and timely release to Finance for payment. Documents the ImageRight file accordingly to indicate current commission payment status to avoid duplicate commission payments.
- May be responsible for processing agency agreements and both agency and individual producer applications. Reviews the licensing and appointment status of producing agencies and individuals using department tools and/or vendor websites and communicates with agencies and individual producers to request missing documents or state licensing documentation when necessary. Requests appointments or terminations from the Agency Compliance Department.

- May prepare documents for brokers as needed such as financing statements.

- May verify annuitant information meeting state response deadlines by searching Company records and subsequently reporting results using required state regulatory systems. Must meet strict deadlines to avoid insurance department complaints against Company.

- May verify child support lien actions by searching Child Support Lien Network and Massachusetts Payment Intercept programs against Company disbursement records to determine legal obligations. Must meet strict deadlines.

- Acts as liaison for Company by providing excellent customer service, maintaining positive corporate image through communications and personal contacts with brokers and Company personnel.

- May verify Social Security Numbers for all payees prior to document completion using research service and brings problems to the attention of the Annuity/Structured Settlement Supervisor, Annuity/Structured Settlement Manager or Corporate Operations Manager.

- May be responsible for review of printed contracts including coordination and release of contracts.

- May assist with training of new employees or temporary agency employees.

- Performs administrative support duties which include answering incoming calls on a multi-line telephone and supplying information or relaying messages, receiving visitors, photocopying, scanning and creating/maintaining files. Process messages via email and facsimile.

- Performs special projects or related duties as assigned or as situation dictates.

Knowledge, Skills, and Abilities: (*minimum qualifications needed to perform essential job function)

Required Knowledge:

• High school diploma or GED and two years related college courses or equivalent work experience
• Business math
• Personal computer and related word processing, spreadsheet, and database software such as Microsoft Excel and Word
• Alpha/numeric filing

Preferred Knowledge:

• Insurance terminology and legal concepts and terminology
• Specific knowledge of certain Company procedures and practices
• 1-2 years related work experience
• Bilingual - Spanish preferred

Skills:

• Typing 50 wpm with accuracy
• Excellent oral and written communication especially via the telephone
• Excellent grammar, punctuation, and spelling
• Customer relations

Abilities:

• Maintain strict confidentiality
• Work with detail with accuracy
• Work well with others
• Read/comprehend documents
• Work independently
• Meet deadlines
• Organize time and resources and handle multiple high priorities
• Recognize and be cognizant of suspicious payee behavior
• Research, evaluate, and make decisions, such as referrals, concerning incoming correspondence, calls,
• and information under time pressure

Senior Underwriting Assistant

Job Objective:
Provide specialized support to the structured settlement (reinsurance and annuity) operation which includes premium acceptance, document review for preparation and release of payments, communication with attorneys, brokers, claimants, and Company personnel, providing/requesting information, recording information, and originating/drafting/releasing correspondence. Coordinates payment review and distribution process which includes review authority. Verifies and authorizes requested payment redirection within authority.

Major Duties:
- Monitors, accepts and records premium in company software in adherence with the Company's Anti-Money Laundering Policy and notice of same to department personnel, Connecticut office personnel, and Finance Department; may contact brokers to resolve routine premium issues. Responsible for preparation and release of premium refunds.

- Updates, verifies, and reviews payment instructions in the payment system. Initiates initial check issuance on new files by verifying the completeness and accuracy of required documents (payee data sheet, premium, court order, trust, guardianship documents). Authorizes redirection of payments and changes from payees such as address changes, void payment requests, stop payment requests and/or reissues of checks within authority. Reviews direct deposit requests for acceptability. Brings unique issues to the attention of appropriate authority and assists as directed.

- Responsible for locating lost payees or providing instruction to Underwriting Assistants in their efforts to locate lost payees. This includes reviewing annuity and periodic payment reinsurance forms and correspondence to identify potential current address information, calling payees, brokers, attorneys, or fiduciaries, writing and sending correspondence, or requesting an address search be performed. Documents the ImageRight file with efforts and results.

- Coordinates the review and follow up of outstanding checks and payments owed to the Company due to improper cashing of checks by the payee.

- Answers annuitant questions via phone calls and written request and prepares written response to correspondence from various parties such as annuitants, attorneys, claimants/payees, brokers, in-house claims personnel, and others by handling inquiries/problems and brings unique and unusual annuitant issues to the attention of the Annuity/Structured Settlement Supervisor, Annuity/Structured Settlement Manager, Corporate Operations Manager or Legal Counsel and assists as directed. Prepares changes from claimants/payees such as address changes and requesting payments and/or voiding and reissuing payments. Identifies issues for review by Annuity/Structured Settlement Analyst, Corporate Operations Manager and Legal Counsel.

- Requests proper tax certification and withholding forms such as W9 and W4-P from payees, attorneys and brokers according to IRS regulations, reviews W9 and W4-P for completeness and accuracy, forwards W9 and W4-P forms to the Tax Department for review and subsequent instruction, and verifies and updates tax withholding instruction within the payment system.
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