Policyholder Service Consultant
Springfield, Massachusetts
Job ID: R16277
Overview
A career with us means you’ll help our customers secure their future and protect the ones they love. It also means you’ll work alongside exceptional people and be empowered to reach your professional and personal goals. Our employees are at the foundation of what makes MassMutual a strong, stable, and ethical business.
Our culture embodies the idea that we all are stronger and better through our support for one another. By valuing people for who they are, how they think, and what they bring to the table, we’ve become a better, more innovative company.
We invite you to explore the possibilities.
What our employees say
Job Description
The Opportunity
As a Policyholder Service Consultant in MassMutual’s Institutional Insurance business, you will be responsible for delivering value to our bank-owned life insurance (BOLI) and corporate-owned life insurance (COLI) clients, advisors, and TPAs via your experience servicing general account and variable life insurance policies and/or annuity policies. In this role, as well as all roles within MassMutual, you will demonstrate accountability, agility, a dedication to be inclusive, and strong business acumen. We also highly value strong communication skills, a passion for learning, leadership traits, resilience, and self-awareness.
The Team
As a Policyholder Service Consultant, you will be joining us as a member of the Institutional Insurance Operations New Business Team. We are an industry leading service operation in the BOLI/COLI Market with a high focus on customer service. You will work alongside a team of professionals across many business cycles including the Institutional Insurance Sales Team, Underwriting, and an established Sales Distribution Channel. We as a team value strong communication skills, a willingness to learn beyond your day to day responsibilities, leadership traits, business acumen and self-awareness. We are the face of the BOLI/COLI Market for MassMutual and are built with a great sense of community and the desire to achieve results as a team.
The Impact
The Policyholder Service Consultant will serve as a critical role providing customer service to MassMutual’s Institutional Insurance BOLI and COLI policyholders, distribution partners and servicing administrators. The day-to-day responsibilities of this role will include providing ongoing service to the BOLI and COLI Clients performing Post Issue servicing activities and responding to requests received by phone and/or email, while managing your queue in our workflow management system (CATS or Trex). Specific servicing tasks include processing fund reallocation requests, premium payments, policy loans, and death claims, all with high attention to accuracy and timeliness. In this position, you will also be expected to play a lead role developing the servicing function and documenting procedures for our newest product, Strategic Life 21 (SL21), a private placement variable universal life product (PPVUL) predominantly designed to appeal to the Insurance Company-Owned Life Insurance (iCOLI) market, expected to commence sales in early Fall 2023. This product will offer a large line-up of daily valued mutual fund subaccounts in addition to Insurance Dedicated Fund (IDF) subaccounts comprised of illiquid and alternative investment strategies that are not daily valued.
Key Responsibilities Include:
- Complete daily and monthly reporting in addition to servicing a specialized group of products.
- Work closely with investment accounting and Financial Controls to ensure a seamless execution of complex requests involving Illiquid Investment options.
- Provide technical guidance, information, and procedural advice on a variety of complex customer service issues requiring knowledge of variable universal life insurance products, policy administration and illustration systems, mutual funds, and processing transactions.
- Respond to telephone or electronic inquiries/service requests of the most complex nature.
- Process complex transactions within service standards.
- Conduct research to complete service requests.
- Focus on quality control, meeting time sensitive deadlines, and process improvement.
- Monitor service activity, prepare service reports, and troubleshoot complex technical problems.
- Facilitate, coordinate, and recommend policies and procedures to ensure operational objectives are met.
- Prepare and explain complex agreements and understand and be aware of pertinent regulations.
- Manage client expectations by communicating when SLAs will not be met and setting realistic deadlines.
- Resolve specialized/complex, high impact service requests for multiple divisions/products on behalf of the Enterprise.
The Minimum Qualifications
- Bachelor's degree and 2+ years servicing general account and/or variable life insurance policies or annuity policies OR 4+ years experience in lieu of degree
- 1+ year experience with variable product prospectuses and mutual funds
- 1+ year experience with variable life insurance regulations and processing including 38a-1
The Ideal Qualifications
- Bachelor's Degree in business, finance or technical subject preferred
- 5+ years of work experience related to Variable Universal Life Policies or variable Annuity Contracts
- 3+ years of demonstrating strong PC skills including Word, Excel, and Outlook
- Proven relationship management/outstanding customer service delivery
- Strong communication and relationship building skills
- Strong quantitative and analytical skills
- Investment product knowledge including mutual funds, prospectuses, and alternative investments
#LI-DK1
MassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.
State and federal laws and regulations, including the Violent Crime Control and Law Enforcement Act, limit employment of individuals with certain criminal backgrounds.
EEO Statement(Opens in new window)MassMutual will accept applications on an ongoing basis until such time as a candidate has been offered employment.
Salary Range: $61,000.00-$80,000.00
Hiring Process
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Explore
To get started, explore our open jobs by clicking 'search jobs' to find a position that aligns with your experience and skills. You may also consider joining our Talent Network to receive information on jobs that may interest you and stay up-to-date with the latest MassMutual news.
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Apply
To apply for a specific position, please click the “apply” button on that job posting to complete and submit your application. Your application will be reviewed by a recruiter which, due to the volume of applications received, may take some time as we carefully consider each application.
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Screen
After your application has been reviewed, if you meet the qualifications for the role, a recruiter will reach out to you to start a conversation.
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Interview
If you are invited for an interview, you will be scheduled to meet with the hiring manager and hiring team. Coordinating calendars for interview schedules can take time, so your patience and flexibility is appreciated.
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Offer
If you are extended an offer to join MassMutual and accept, your start will be contingent upon a satisfactory background check.
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Hire
If you accept the offer, we will be so excited to welcome you to the MassMutual community!
Recruitment Fraud Awareness
Job recruiter fraud is a scam by impostors posing as recruiters or representatives of a company promoting fake job opportunities to job seekers.
MassMutual will never ask job candidates to pay any kind of fee, make cash or check advancements, cash checks or make an investment in any product or service or provide information such as credit card numbers or banking PIN numbers as part of our hiring process.
If you are contacted by anyone asking for information outlined above it is likely fraudulent. If you have any concerns about the veracity of a request, please contact us directly to verify its legitimacy.
If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.
Award-Winning Culture
MassMutual is guided by a single purpose: We help people secure their future and protect the ones they love. As a company operated for the benefit of our members and participating policyowners, we are defined by mutuality and our vision to provide financial well-being for all Americans. It’s more than our company structure—it’s our way of life. We are a company of people protecting people. Our company exists because people are willing to share risk and resources and rely on each other when it counts.
We strive to embrace diversity in every sense, focusing on building a thriving community where everyone is valued, included, and feels that they belong.
At MassMutual, we Live Mutual.
Benefits for the whole you (and your loved ones)
There’s more to your life than your job and there’s more to your aspirations than a paycheck. We take a holistic view of compensation and benefits that provides the flexibility to create a healthy balance in your life for work, family, and community. We offer the benefits you’d expect, like medical, dental, 401(k), and generous vacation time, but we also offer ones you might not expect, like three paid days for volunteering, a $1250 annual wellness wallet, and up to 320 hours of caregiver leave.
Explore some of our offerings below. Full benefits details can be found here.
- In addition to generous vacation time, paid holidays, and flexible holidays, MassMutual offers 'take care' time to take care of yourself or someone you love—whether for physical illness or mental health.
- Medical and dental insurance
- Life, disability short-term and long-term insurance
- Well-being wallet: $1,250 per year for a wide range of qualifying wellness expenses
- Well-being support: Mindfulness, nutrition, fitness
- Personalized mental health solutions
- Adoption and surrogacy reimbursement programs
- Competitive salary and bonuses
- 401(k): Up to 10% total benefit, consisting of a 5% company match and a 5% annual contribution
- Educational assistance program
- Childcare support
- Financial counseling
- Caregiver Leave (up to 320 hours)
- Maternity Leave (a total of 18 weeks, 10 maternity + 8 parental)
- Parental Leave (8 weeks for all parents, birth or adoption, continuous or intermittent)
- Bereavement Leave: Up to 15 days to mourn the loss of a loved one, and you define 'loved one'
- Matching Gift: 100% match on employees’ charitable contributions to non-profits up to $5,000
- Volunteering: Three paid days for employees to volunteer with eligible nonprofits of their choice
- Matching time: MassMutual Foundation awards dollars to organizations for which employees volunteer
- Qualified Commuter Program through which eligible employees can pay qualified workplace commuting expenses with before-tax dollars
- Commuter wallet option for employees based at Boston and NYC campuses
Why MassMutual?
Compliance Consultant
Service Management Consultant
Head of Experience Journey Mapping
How we work
MassMutual’s flexible workplace approach combines the importance of connecting in person and the flexibility of working remotely. Our hybrid model puts collaboration first with employees coming in at least three days per week to our spectacular campus settings and also enjoying the flexibility of remote Fridays, company-wide remote weeks, and a bank of flexible remote weeks to use throughout the year.
Where we work
Springfield Office
1295 State Street,
Springfield, MA
Boston Office
10 Fan Pier Blvd,
Boston, MA
New York Office
2 Park Ave,
New York, NY
Virtual
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Interested in pursuing a career as a financial professional? Learn how you can build your business and help people secure their future and protect the ones they love.