BA/Function Expert - Life Annuities
Apply NowCompany: Damco Solutions
Location: Plainsboro, NJ 08536
Description:
JD: Annuities:
Expected Skills/ Competency/JD
Expected Skills/ Competency/JD
- Good knowledge on Policy Administration system for Annuities and Group Life.
- Knowledge and hands on experience in Quotation & Illustrations, Agency management and Commissions, Accounting, Portals, Reinsurance.
- Actively participate in requirement gathering, gap analysis, and feasibility study, prepare functional requirement/Design document, coordination and walk thru with developers/business users, testing and implementing the changes in the system.
- Excellent written and verbal communication skills to clearly and concisely present requirements.
- Review delivered solutions for quality and accuracy.
- Must to have
- Strong understanding of policy administration processes and systems specific to Individual Life, Annuities, and Group Life Insurance.
- Proficiency in navigating, configuring, and managing policy lifecycle events such as issuance, servicing, renewals, and cancellations.
- Practical experience in Quotation and Illustration generation to support life and annuity policy proposals.
- Solid knowledge of Agency Management and Commissions processes, including agent onboarding, commission structures, and payout calculations.
- Strong skills in eliciting and documenting requirements through workshops, stakeholder interviews, and documentation review.
- Ability to conduct gap analysis to identify areas of improvement and feasibility studies to assess the impact and practicality of proposed changes.
- Proficiency in creating Functional Requirement Specifications (FRS) and Design Documents to clearly outline system capabilities and solutions.
- Demonstrated experience in facilitating requirement walkthroughs and design discussions with both technical and business stakeholders.
- Effective collaboration with developers and QA teams to ensure accurate implementation and testing of system changes.
- Skilled in coordinating and communicating with business users to ensure alignment on requirements and expected outcomes.
- Excellent written and verbal communication skills to effectively translate technical and business requirements for various audiences.
- Skilled in producing clear and comprehensive documentation including requirements, functional specifications, and user guides.
- Good to have:
- Familiarity with regulatory standards like HIPAA, GDPR, and IFRS17, especially as they pertain to life insurance, annuities, and group life.
- Knowledge of state-specific regulations for insurance and compliance considerations for policy administration.
- Familiarity with Agile methodologies (e.g., Scrum, Kanban) and experience in tools like JIRA, Confluence, or Azure DevOps for project tracking and collaboration.
- Understanding of product lifecycle management for designing, launching, and maintaining new insurance products, including experience with product configuration tools.
- Strong stakeholder engagement skills to effectively collaborate with diverse teams, including business users, developers, and executives.
- Proficiency in conflict resolution techniques to handle competing priorities or differing requirements.