Policy Administrator

2 weeks ago

Lake Mary, Florida, United States Ascensus Full time

Newport, an Ascensus company, helps employers offer their associates a more secure financial future through retirement plans, insurance and consulting services. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. As a provider and partner, Newport is independent, experienced, and responsive.

Job Summary: Newport has an excellent opportunity for a Policy Administrator who will perform function that assist in the implementation and ongoing policy for all insurance products supported by Newport Group (COLI, BOLI, IOLI, Disability, Individual, and LTC).

Essential Functions Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.

  • Responsible for providing day to day policy administration, not limited to death benefit changes, policy surrenders, policy loans, owner and beneficiary changes, split dollar administration and miscellaneous carrier forms.
  • Develop and maintain full understanding of life insurance policy administration and work with senior policy administrator on an assigned book of policies.
  • Responsible for determination of premium amount based on communication with Senior Policy Administrator, Senior Consultant or Financial Analyst, client-specific documentation, and established procedures
  • Prepare and process all premium and loan interest invoices as well as scheduling policy value reporting; including downloading, formatting, auditing, and forwarding to client
  • Review and forward client carrier confirmation statements.

Supervisory Responsibilities (none)

Required Education, Experience and Certificates, Licenses, Registrations

  • Bachelor's degree in Finance, Economics or Math or equivalent in education preferred and/or 3 years of job experience in the finance or insurance industry.
  • Strong analytical, problem solving and organization skills
  • Must have excellent written and oral communication skills
  • Proficient using Excel, Word, PowerPoint, Adobe and Insurance product software
  • Insurance License required to be obtained within the first 90 days of employment

Competencies

  • Detailed Oriented - Shows rigorous and meticulous attention to detail.
  • Excellent Verbal and Written Communication Skills - Ability to express oneself clearly verbally and in writing.
  • Flexibility - Openness to different and new ways of doing things; willingness to modify one's preferred way of doing things.
  • Time Management - The ability to plan and exercise conscious control of time spent on specific activities, especially to increase effectiveness, efficiency, and productivity.
  • Thoroughness - Ensuring that one's own and others' work and information are complete and accurate; carefully preparing for meetings and presentations; following up with others to ensure that agreements and commitments have been fulfilled.

TRAVEL: _0_%.

OTHER DUTIES

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

EQUAL OPPORTUNITY EMPLOYER

Newport is an Equal Opportunity Employer. We do not discriminate on the basis of race, religion, color, sex, sexual orientation, gender identify, gender expression, national origin, age, non-disqualifying physical or mental disability, veteran status, or any other basis covered by applicable law. All employment is decided on the basis of qualifications, merit, and business need.

Be aware of employment fraud. All email communications from Ascensus or its hiring managers originate from or email addresses. We will never ask you for payment or require you to purchase any equipment. If you are suspicious or unsure about validity of a job posting, we strongly encourage you to apply directly through our website.

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