Annuity Officer at AIICO Insurance

JOB OVERVIEW

• The Annuity Officer is responsible for managing and administering annuity accounts within the organization.
• This role involves working closely with annuitants, agents, brokers, and internal teams to ensure accurate and timely processing of annuity-related transactions.
• The Annuity Officer plays a pivotal role in maintaining data integrity, handling customer inquiries, and ensuring compliance with regulatory requirements.

KEY RESPONSIBILITIES

• Oversee the administration of annuity accounts, including generating quotes, processing transactions, updating account information, and ensuring accuracy of financial records.
• Monitor account activity and promptly address any discrepancies or issues.
• Ensure prompt payment of all annuitants’ monthly benefits.
• Responsible for preparing agents commission payment schedule.
• Serve as a primary point of contact for annuitants, addressing inquiries, providing information on annuity products, and offering assistance in account-related matters.
• Build and maintain positive relationships with annuitants through effective communication and customer service.
• Implement and uphold data management protocols to ensure the integrity and confidentiality of annuity-related information.
• Stay informed about regulatory requirements and ensure compliance with relevant policies and procedures.
• Work collaboratively with finance, and other internal departments to coordinate activities related to annuity accounts.
• Provide necessary documentation and support for audits and regulatory examinations.
• Prepare and maintain accurate documentation related to annuity transactions, account changes, and customer interactions.
• Generate reports as needed for management, regulatory authorities, and other stakeholders.

SKILLS / COMPETENCE REQUIREMENTS

• Strong understanding of PENCOM regulated annuity products.
• Proficient in the use of Microsoft applications and spreadsheet, Particularly Word, Excel, PowerPoint, and Project and InfoPath
• Numerical accuracy and pay attention to details.
• Excellent inter-personal skills with ability to work unsupervised and as part of a team.
• Possess exceptional problem-solving skills i.e., analyse problems, find solutions and implementing them.
• Able to learn quickly and understand new techniques and ideas.
• Highly developed research and analytical skills with strategic thinking and planning

QUALIFICATIONS

• Minimum of 1 - 3 years’ Experience in insurance, annuity administration or similar roles.
• B.sc / HND in Insurance, Finance, Management or any related social Sciences or discipline.
• Professional Certification (ACIIN or ACII) would also be an added advantage.