1035 Exchange Analyst (NRF)

Summary

Responsible for technical analysis/processing of 1035 exchange life insurance applications, and determination of funds allocation and transaction legality. Responsible for initial review, obtaining requirements, and processing of exchange proceeds, you will report on non-prepaid cases and accuracy of the cost basis adjustments; meet all service expectations and regulatory guidelines under the tax code for a 1035 exchange; communicate with outside companies to obtain necessary funds; administer proceeds in a timely and accurate manner, using a wide variety of computer applications; research and implement creative solutions to complex situations related to 1035 exchanges; identify cases that require additional underwriter involvement; process cost basis for 1035 exchanges, accountable for any necessary policy corrections changes for approved 1035 exchanges; identify and apply interest charge adjustments; take final action on 1035 exchanges.

This position provides a balanced mix of customer interaction and case management. Team members typically spend about half of their time supporting clients and field partners by phone and half of their time managing complex 1035 exchange cases, conducting research, obtaining requirements, and processing transactions.

What You'll Do:

• Successfully resolves questions and inquiries from Financial Reps and clients

• Takes ownerships of calls and anticipates future issues to avoid repeat calls and unnecessary call transfers

• Serves as a trusted advocate for our Financial Representatives and partners with them to meet the needs of our clients.

• Educates Financial Representatives on self-service capabilities

• Fosters a professional relationship with our clients to enhance brand loyalty

• Exhibits skill in de-escalating servicing concerns

• Achieves productivity standards and goals while maintaining the highest level of customer service

• Handles phone and transactional responsibilities while adhering to strict confidentiality and privacy standards

• Able to multi-task between phone and casework/transactional duties with the high degree of accuracy and quality

• Able to work independently and with your team to consistently identify opportunities improve work processes

• Researches and evaluates possible solutions using all available resources

• Manages casework in accordance with area service and/or productivity standards

• Welcomes change and embraces an environment where continuous improvement is expected from all employees

• Demonstrates a willingness to shift work priorities to meet the needs of the business and customer demand

• Identifies opportunities for improvement and is an advocate for delivering viable solutions and alternatives

• Ability to interact with latest technologies including devices to do their jobs and interact with clients

• Demonstrated ability to use computer software packages, including Word, Excel, and PowerPoint

What You'll Bring to the Role:

• Associates degree in business or related field or equivalent combination of education and experience

• Previous customer service experience preferred

• Equally strong written and verbal communication skills

• Non-Registered fingerprinted will be required

• Ability to multi-task, prioritize and manage time effectively

• Willingness to embrace change in a fast paced work environment

• Desire to resolve complex problems

• A strong desire to continuously learn and improve

• Demonstrated computer experience with solid keyboarding skills and proficiency with current software packages

• Successful completion of customer service required testing

Skills You Have:

• Attention to Detail: Focuses on specific details to spot and correct errors in advance of them being found and surpass quality expectations. Performs work with thorough proofreading for presentation, content, accuracy, and overall quality.

• Case Management: Manages and maintains ownership of assigned cases, communicating status, managing requirements, and answering client questions. Ensures all claims and inquiries are necessary, reasonable, and legitimate.

• Customer Service Mindset: Anticipates customer needs and applies understanding of customer needs or perspectives to solve problems and drive outcomes as the basis for decision making. Leverages knowledge of trends affecting customer to help them make informed decisions.

• Field Relations: Builds and maintains relationships with agents or brokers who work directly with customers to sell insurance products, and negotiates outcomes with field/clients. Understands the needs and concerns of these intermediaries, provides support and guidance on underwriting policies and procedures, and collaborates with them to ensure that customers receive the best possible service and coverage.

• Insurance Products: Leverages knowledge of the general components, characteristics, principles, philosophy, and advantages of specific Northwestern Mutual insurance products to inform approach to situations such as innovation, development, and improvement.

• Root Cause Analysis & Decision Quality: Assists and applies problem solving methods to understand the fundamental reasons of faults and problems; makes timely, data-driven decisions by understanding the probability of success, identifying customer risks, gathering business requirements, and developing value statements.

• Teamwork: Engages in others' behaviors to generate strong team cohesion and orientation. Facilitates open dialogue within and across teams to create trust and understanding. Shares collective successes and opportunities to improve as a group.

#LI-Hybrid

Compensation Range:

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We believe in fairness and transparency. It's why we share the salary range for most of our roles. However, final salaries are based on a number of factors, including the skills and experience of the candidate; the current market; location of the candidate; and other factors uncovered in the hiring process. The standard pay structure is listed but if you're living in California, New York City or other eligible location, geographic specific pay structures, compensation and benefits could be applicable, click here to learn more.

Grow your career with a best-in-class company that puts our clients' interests at the center of all we do. Get started now!

Northwestern Mutual is an equal opportunity employer that welcomes talented individuals of all backgrounds. We are committed to creating and maintaining an environment in which each employee can contribute creative ideas, seek challenges, assume leadership and continue to focus on meeting and exceeding business and personal objectives.

Customer Service Mindset (NM) - Intermediate, Case Management (NM) - Intermediate, Quality Acumen (NM) - Beginner, Field Relations (NM) - Beginner, Policy Inquiries & Complaints Management (NM) - Beginner, Adaptive Communication (NM) - Beginner, Data Security (NM) - Intermediate, Teamwork (NM) - Intermediate, Prioritization (NM) - Beginner, Compliance (NM) - Beginner, Insurance Products (NM) - Beginner, Policy & Procedure (NM) - Beginner, Change Adaptability (NM) - Beginner, Root Cause Analysis & Decision Quality (NM) - Beginner, Escalation Management (NM) - Beginner, Attention to Detail (NM) - Intermediate, Client Advocacy (NM) - Beginner, Analytical Thinking (NM) - Beginner, Customer Support (NM) - Intermediate, Tax Awareness (NM) - Beginner

We're excited about the potential people bring to Northwestern Mutual. You can grow your career here while enjoying first-class perks, benefits, and our commitment to a culture of belonging.

• Flexible work schedules
• Concierge service
• Comprehensive benefits
• Employee resource groups