Annuity Operations Associate

2 weeks ago

Tempe, Arizona, United States LPL Financial Full time

Position Overview:

The Annuity Operations Associate plays a vital role in assisting Financial Advisors, their support teams, and internal stakeholders in the acquisition of annuities through the Annuity Order Entry (AOE) system. This position is part of a dedicated operations team that manages a substantial volume of annuity transactions, processing around 1000 orders on a daily basis. The team is accountable for the comprehensive oversight, auditing, and execution of daily operations related to the Annuity order entry system and its users.

Key Responsibilities:

  • Execute assigned operational tasks and provide necessary training to colleagues to enhance overall departmental expertise. Responsibilities include managing the AOE Tier 2 mailbox, addressing Trade Busts, and preparing oversight reports as directed by senior management.
  • Conduct outbound communications with Advisors concerning annuity transactions or adjustments, addressing inquiries related to annuity products or policies.
  • Oversee and process Letters of Indemnity from initial submission to disbursement and payouts, collaborating with Supervisory Principals, Management, Accounts Payable, and Client Compensation to ensure accurate billing and oversight.
  • Maintain a comprehensive understanding of LPL processes and system platforms relevant to annuity transactions and operations.
  • Provide subject matter expertise to team members as needed and offer constructive feedback on process workflows to enhance efficiency and identify improvement opportunities.
  • Manage escalated issues reported by frontline teams, the AOE Tier 2 mailbox, team communications, or as assigned by management, ensuring proper escalation of complex issues.
  • Communicate follow-up actions to resolve escalated requests and provide training to the team when necessary.
  • Participate in User Acceptance Testing (UAT) and onboarding of new products or updates for the AOE system, working closely with carriers, vendors, and internal partners.
  • Report on the status of onboarding updates and issues, ensuring effective communication with all stakeholders.
  • Adapt priorities as needed to meet escalated service demands.
  • Contribute to annuity projects and initiatives through collaboration with both internal and external partners.
  • Minimize risk by completing required training, appropriately escalating issues, and adhering to departmental policies and procedures.
  • Assist with inbound call volume during peak periods or when necessary.

Qualifications:

  • Familiarity with the annuity and trade workflow, with a focus on commissions, representative IDs, carrier partnerships, and documentation.
  • 1-2 years of relevant experience in financial operations, annuity services, or call center environments is preferred.
  • A high school diploma is required.

Core Competencies:

  • Basic proficiency in macro use.
  • Fundamental Excel skills, including data entry, filtering, and report analysis.
  • Effective written and verbal communication skills in a business context.
  • Strong attention to detail and client-centric approach.
  • Demonstrated work ethic and organizational abilities.
  • Analytical and critical thinking capabilities.
  • Commitment to enhancing the customer experience and achieving high satisfaction levels while upholding corporate values.

Preferred Qualifications:

  • Experience with software/systems such as MS Office, BETA, ClientWorks, ServiceWorks, Nice, Documentum, and Electronic Order Entry.
  • A bachelor's degree is advantageous.
  • Understanding of Lean Six Sigma principles is preferred.

Compensation:

The pay range for this position is $21.63 to $36.06 per hour. Actual salary may vary based on factors such as relevant skills, prior experience, education, and performance. LPL Financial offers a competitive Total Rewards package designed to support your success in various aspects of life, including 401K matching, health benefits, employee stock options, paid time off, and more.

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