Policy Service Specialist
Western & Southern Life

Cincinnati, Ohio


Summary of Responsibilities:

Prioritizes and processes transactions to fulfill client, agent and district requests for Policy Service including but not limited to premium income, disbursements, name changes, beneficiary changes and death of owner notifications. Utilizes knowledge of Western & Southern products and processes to adhere to Company guidelines regarding privacy, authorization requirements and accounting controls. Provides superior-level support to clients, agents, district offices and internal customers. Works with some supervision and is empowered to make an established range of decisions, escalating issues to the Team Lead or Manager when necessary and providing updates on a regular basis.

Position Responsibilities:

  • Processes manual calculation of cash values, dividends, loans, cost basis, net gains and minimum distribution quotes through a working knowledge of contractual, legal and processing requirements.
  • Processes new and change items for pre-authorized checking requests. Privy to banking information for clients and expected to adhere to privacy guidelines. Processing is expected to be accurate in an effort to avoid charges to a client's account, negatively impacting the client and potentially causing NSF fees for the client.
  • Makes decisions and processes all contract change requests including owner changes and beneficiary changes, death of owner notifications and name changes within the Western & Southern group for which the Online Application System will not automatically approve.
  • Processes disbursement transactions and 1035 exchanges as well as manual backups for disbursements, premiums and/or NSF transactions through an advanced knowledge of accounting flows.
  • Reviews and processes IRS tax-free exchanges by reviewing the contract language, 1035 papers and by maintaining appropriate records and files to ensure assignments are handled in accordance with IRS regulations. Creates, maintains and updates 1099 records within the IRS2 Tax System.
  • Assesses, prioritizes and researches district and client inquiries for special mode premium income, loans/dividends/surrenders and contract change information to determine the appropriate action to take regarding freeze status, manual surrenders and manual backups of monetary transactions.
  • Completes loan, dividend and/or premium history for district and policy owner by researching Company records via microfiche, archived audit trails and system audit trails. Accurately evaulates the information from the three sources, compiles the data through a thorough understanding of over 50 transaction codes and presents the data to the agent and/or client.
  • Educates and collaborates with agents, district clerical and clients to resolve 1035 exchanges, disbursement requests, special mode premium payments and replacement requests. Accurately evaluates and completes forms, signatures and documentation needed for each transaction. Ensures correct items needed to accompany complex divorce decrees, guardianship papers, power-of-attorneys, corporate resolutions, collateral assignments, trust agreements, ownership papers and court orders.
  • Corresponds with district clerical, agents and policy owners via email, phone and Company-established letters. Ensures that this correspondence meets applicable federal and state privacy laws and Company guidelines.
  • Assures accuracy in processing credit vouchers, requests for special check handling, payee corrections and duplicate check requests, and in balancing transactions and accounts.
  • Completes educational training to stay current of the state and federal laws regarding replacements, privacy and anti-money laundering.
  • Assures all contractual, legal and processing requirements are followed to complete changes.
  • Accurately removes items from a pended state, keeping the agent informed regarding current case status.
  • Develops and presents structured job-specific training as management directs, applying appropriate adult-learning principles.
  • Interacts with staff of other departments to complete and resolve problems.
  • Performs other duties as assigned by management.

Selection Criteria:
  • Proven success in a Processor role or comparable position. Ability to continuously make repetitive motions of the wrists, hands and/or fingers.
  • Working knowledge of multiple systems including but not limited to MDOCS, OASYS, BACC, AT00 and CDS or comparable systems.
  • Must demonstrate a working knowledge of mathematics and principles behind monetary transactions. Working knowledge of reconciling and balancing accounting transactions.
  • Demonstrated experience in interpreting complex documents including, but not limited to, divorce decrees, guardianship papers, power-of-attorneys, corporate resolutions, collateral assignments, trust agreements, ownership papers and court orders.
  • Demonstrated experience effectively handling customers and providing excellent service.
  • Ability to prepare written correspondence, reports and forms using a prescribed format while following proper rules of punctuation, grammer, dictation and style.
  • Proven strong analytical skills, including demonstrated experience identifying and quantifying problems and providing effective resolutions. Provide examples from work experience of maintaining a high degree of accuracy associated with high volumes of work and/or multitasking.
  • Demonstrated experience in working independently and consistently meeting productivity and quality goals.
  • Must demonstrate strong attention to detail with excellent organizational skills.
  • Possesses and displays excellent verbal and written communication skills with the ability to convey/present information to internal and external customers in a clear, focused and concise manner.
  • Proven experience handling multiple duties and completing assigned tasks accurately and on a timely basis. Must cite examples of working independently and consistently meeting productivity and quantity goals.
  • Proven experience adapting and demonstrating flexibility associated with changes to policies/procedures.
Work Setting:
  • This position works in an office setting and remains continuously in a stationary position for long periods of time while working at a desk, on a computer or with other standard office equipment, or while in meetings.
Educational Requirements:
  • High school diploma.
Computer skills and knowledge of hardware & software required:
  • Working knowledge of word processing application.
  • Working knowledge of an email system.
Certifications & licenses (i.e., Series 6 & 63, CPA, etc.):
  • None required.
Position Demands:
  • Extended hours required during peak workloads or special projects.

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