Suitability Specialist III

Job Summary

The Suitability Specialist III is responsible for independently reviewing and analyzing clients’ current financial situation and future situation and future financial needs by applying NAIC Suitability against the Annuity Transactions Model Regulation, the company and the industry standards to determine whether an annuity contract can be issued while considering company risk. This position will be responsible for more complex cases and supporting workflow queues for the Suitability team. and participate in departmental projects as assigned.

Duties & Responsibilities

• Analyzes all forms of business (e.g., applications, replacements) to determine suitability in accordance with NAIC Suitability, and applicable industry regulations, company guidelines, and best practices
• Reviews suitability documentation for validity and completeness; evaluates complete information, analyzes and documents final suitability recommendations
• Communicates with agents, applicants, and producers effectively to complete or clarify information
• Build and maintain knowledge of products, applicable regulations, and best practices
• Ensures consistency and timely suitability review by partnering with peers to provide support, review quality, and provide feedback
• Ensures items are processed in a timely manner and in accordance with internal company standards
• Provides prompt and consistent customer-centric service related to suitability, regulatory requirements, and contract requirements
• Serves as an internal resource on suitability procedures and needs
• Actively participates and contributes to the goals and objectives of the Company by working collaboratively and fostering a positive and inclusive work environment.

Supervisory Responsibilities:  This role does not have formal people leadership responsibilities but may provide guidance, mentorship, or subject matter expertise to others.

Knowledge, Skills & Abilities

• Effective verbal and written communication skills and listening skills; including the ability to effectively present information and respond to questions in a one-on-one or small group settings
• Good mathematical, analytical, organizational, and problem-solving skills with attention to detail
• Strong customer service orientation with ability to actively listen to internal/external customers
• Ability to make reasonable, independent decisions with little instruction and solve practical problems that deal with a variety of concrete variables in situations where only limited standardization exists
• Ability to prioritize workflows, establish and meet deadlines and manage multiple concurrent tasks
• Ability to work effectively in a variety of situations and respond to change in a positive manner
• Demonstrated ability to build new skills and adapt to new ways of thinking
• Ability to develop and sustain effective working relationships with a wide range of stakeholders, including team members, virtually and in-person
• Seeks challenging assignments and projects
• Proactively seeks to continue development of knowledge of the regulatory environment and able to share this information with team members

Minimum Qualifications

• High School Diploma or GED
• 3+ year of relevant experience

Preferred Qualifications

• Bachelor's Degree
• 3+ years insurance, life insurance or annuity industry experience
• 1+ year of relevant compliance or internal audit experience
• Suitability experience or financial underwriting experience
• LOMA designation

Other Requirements

• This position primarily involves sedentary work, requiring long periods of sitting, regular use of a computer, and occasional standing or walking, with reasonable accommodations available.
• Perform other functions, duties and projects as assigned
• Regular and punctual attendance

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