Annuity Operations Associate

Salary Grade/Points 33/162 Points Company FBL Financial Group, Inc. Date Prepared 11/2021 Position Title Annuity Operations Associate Department Annuity Administration Job Number LF4225 Location West Des Moines, IA Basic Function Process 1035 exchanges and transfer of assets letters, follow up on pending 1035 exchanges and transfers of assets and process partial and full surrenders. Assist other departments as needed. Principal Accountabilities Accountabilities should reflect job functions requiring at least 5% of an incumbent’s time commitment. Essential Functions: We deliver on our promise every day to protect livelihoods and futures. We do this through our value-based work, demonstrating service, integrity, leadership, teamwork, accountability, and passion in all touch points with client members, employees, agents and vendors. 1. Respond to and resolve customer service requests according to FBL Financial Group, Inc policies in a prompt, efficient and courteous manner for external customers, departmental staff, and other FBL personnel at all times. 2. Operate an administrative system to secure policy information to properly surrender policies and calculated cost basis. 3. Learn and interpret IRS regulations affecting qualified retirement plans and 1035 exchanges through use of procedure manuals, IRS Publications, bulletins, etc. 4. Review 1035 Exchange and Asset of Transfers forms for completeness including verifying plan types, signatures, addresses and ensure correct forms for pending request. and correspond with agents for pending requirements via E-mail, telephone, or written correspondence. 5. Prepare and send letters of acceptance for 1035 exchanges and transfer of assets to other insurance companies and financial institutions as well as follow up letters. 6. Review and process full surrenders, partial surrenders and Required Minimum Distributions on annuity policies including verifying signatures and calculating Federal and State withholding amounts as applicable. 7. Communicate by phone with policy owners, agents, attorneys, businesses and others about annuity policy details and contract language. Non-Essential Functions: Progress towards industry education expected (FINRA Series 6 Registered Representative, LOMA, etc.) Provide back up for the annuity new business area. Perform other job-related duties or special projects as assigned. Qualifications/Know-How 1. High school diploma or equivalent. 2. Associate Degree preferred. 3. Analytical/problem solving skills required and attention to detail. 4. Basic personal computer skills required. 5. Keyboard skills (40 – 45 NWPM). 6. Basic math or accounting background a plus. 7. Oral and written communication skills as appropriate to this position. 8. Ability to read, write, and speak the English language. 9. Reasonably regular and predictable attendance. 10. Fingerprinting required OVER Nature Scope The Annuity Administration section of Client Services is responsible for making certain that the FBL is in compliance with all tax regulations for tax deferred retirement plans and the life and annuity products. This area also provides policyholders and agents with all information necessary to meet IRS deadlines on filing requirements for the various retirement plans. The Annuity Operations Associate is responsible for review and prepare 1035 exchange and transfer of assets letters going out to other companies and follow up letters on the pending transfers as needed as well as corresponding with agents, clients, and other companies regarding pending requirements. The Annuity Operations Associate will also review and process full, partial and Required Minimum Distributions from annuity policies. Internal contacts include other staff members in the Annuity Administration area as well as staff members of Policy Accounting, Policy Service and Agency Service departments. External contacts include agents and clients, to received and verify policy information. Dimensions Transaction/day/incumbent: 70-100 Note: FBL Financial Group, Inc. reserves the right to change job descriptions at any time for business reasons. Furthermore, an employee is expected to perform the duties of the position in a safe manner and in accordance with the rules and regulations set forth by the department/division/area/company. Neither the provisions of this job description nor any other document or publication establishes a contract of employment between you and FBL. Profile: CI1 115, C2(19) 22, CNC 25, +1