1035 Exchange Analyst

Description: 1035 Exchange Case Analysis and Technical responsibilities (50%): • The 1035 Exchange Analyst (EA) is responsible for the analysis and coordination of all 1035 Life applications including Term Conversion, ESINS and ULife. This includes ensuring that all appropriate requirements have been identified and received in compliance with the 1035 exchange tax codes. • Communicates with outside companies to obtain necessary funds. Responsible for accurate and timely administration of proceeds upon receipt using a wide variety of computer applications (i.e. SAMS, ISA, NBS CHNG, Workbench, UPAP). • Responsible for independently identifying problem/complex situations related to 1035 exchanges, then researching and implementing creative solutions. • Independently takes final action on 1035 exchanges. Identifies cases that require additional underwriter/coordinator involvement and coordinates completion of the exchange. • Processes the cost basis for 1035 exchanges and is accountable for any necessary policy corrections or (changes related to the 1035 exchange) for approved 1035 exchanges. Identifies and applies any interest charge adjustments needed. • Responsible for analysis and resolution of all system rejects which may require adjustments to system data fields (i.e. PCTC, Data Change, NBS CHNG). Communication (verbal and written) & Consultation (40%): • Demonstrates thorough knowledge of 1035 exchange processing with Financial Representatives, field staff and internal customers handling a broad range of 1035 exchange questions. • Serves as primary Home Office contact for the exchange companies, field staff and/or policyowner when appropriate via phone or written correspondence. Initiates follow-up calls to expedite processing 1035 exchanges. • Collaborates with Underwriter, Term Conversion Coordinator, Post Approval, POS, Loan & Surrender, ABS & Variable Life Services center via e-referral, phone call or e-mail to coordinate completion of 1035 cases. • Prepares amendments to reflect specific contract changes according to the 1035 exchange (i.e. policy dates, amounts on nonprepaid cases). • Responsible for safeguarding sensitive policyowner information and maintaining confidentiality. Other Responsibilities (10%): • Actively supports 1035 exchange team members by sharing job knowledge, presenting case studies during team meetings and objectively participating in decisions impacting the workflow/procedures of the team. • Serves as 1035 exchange representative/liaison for field and home office functions, committees and projects. • Identifies and implements work flow and procedural process improvements, utilizing input from the field, policy owner and internal customers.