BOLI Account Manager

Newport, an Ascensus company, helps employers offer their associates a more secure financial future through retirement plans, insurance and consulting services. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. As a provider and partner, Newport is independent, experienced, and responsive.

Job Summary:  Plans, develops, delivers and services clients’ bank owned life insurance (BOLI) plans by providing accurate, relevant and timely monthly, quarterly, annual and ad hoc reporting, working within the limits of established policies.

Essential Functions Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.

• Develops and maintains full understanding of day to day workflow processes required for assigned client plans
• Collects all pertinent data from requisite sources, maintains knowledge of BOLI administration system and functions
• Assists in the implementation and ongoing maintenance and application of regulatory requirements for BOLI
• Researches and resolves any issues concerning reports, investments, plan provisions and specific transactional activities
• Provides information and support to the Service Team as needed to manage client accounts
• Participates in setting department standards, processes and procedures
• Makes recommendations to ensure regulatory compliance issues are met
• Contributes to development of reports, materials and administrative standards for clients, and assists to implement changes as directed by supervisory personnel
• Prepares, reviews and delivers all plan periodic, regulatory and ad-hoc reporting
• Performs quality control checks, reports to supervisor on client satisfaction, and any other items necessary to assure customer loyalty
• Supports all administrative activities as needed for assigned client accounts
• Assists in facilitation of communication between the different business lines represented in Newport’s client service team for all assigned clients, including benefit plan administration, accounting services, legal, etc.
• Self-starter working in a fast-paced, demanding environment under tight deadlines
• Focuses on learning in everyday activities and events
• Collaborates with and openly shares knowledge with colleagues
• Regular, reliable and punctual attendance

Management Responsibilities: (none)

Required Education, Experience and Certificates, Licenses, Registrations

• Bachelor’s degree from an accredited university 
• 3-5 years of total experience within the banking or insurance industry or equivalent combination of education and experience
• In-depth knowledge of accounting principles required
• Insurance license or ability to obtain within 6 months

Preferred (but not required) education or skills for this role are

• Series 6 license

Competencies

• Analytical
• Commitment to Excellence
• Detail oriented
• Independent
• Problem solver
• Time Management
• Collaboration
• Verbal and Written Communication
• Accuracy

Travel:  Up to 5%

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

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