TPA Governance Business Analyst

Recruiter
American General Life Insurance Company
Location
Brentwood, Maryland, United States
Salary
Competitive salary
Posted
23 Jun 2021
Closes
25 Jun 2021
Ref
JR2103552
Job role
Business analyst, CFO
Sector
Insurance
Standardized Job Description Template - TPA Governance Business Analyst

Who we are

American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security.

Get to know the business

Life and Retirement is a unique franchise that brings together a broad portfolio of life insurance, retirement and institutional products offered through an extensive, multichannel distribution network. It holds longstanding, leading market positions in many of the markets it serves in the U.S.

About the role

What you need to know:

The Business Analyst of AIG's TPA Governance Team will report to the AIG TPA Relationship Manager responsible for the CBSC / Fortitude Life and Retirement Services Relationship. In partnership with Operations and the TPA Governance Manager, the TPA Governance Business Analyst will help to support the management of the service delivery expectations, relationship, risk, control, reporting, and governance process. It will be critical to build close working relationships with AIG and the TPA/BPS business and functional leaders, colleagues across other insurance functions, and specialized areas including Internal Audit, Compliance and Legal. Responsibilities include:

  • Monitor and report the status of the Administrative services - Performance Standards (SLAs) and Quality Metrics to include:
  • Establishing strong working relationships with Operations so that this becomes a shared responsibility with the Operations areas.
  • On-going monitoring of performance reports with the following expectations:
    • Report will address the Administrator's performance under each performance standard
    • Assess the degree to which Administrator has attained or failed to attain objectives
    • Describe resolution efforts and initiatives for ongoing problems
    • Explain deviations from the performance standards and include corrective action
    • Describe generally any changes in the status of, or changes made to, Administrator's facilities and systems or Administrator's service centers and Administrator resources.
  • Execute the activities that are associated primarily with the on-going vendor and oversight, including control assessment, operational licensing and registration review, contract storage and maintenance, renewal, indemnification, and termination.
  • Conduct corporate and operational due diligence - control assessments, mitigation of risk, process improvements, etc.
  • Point of contact for informal dispute resolutions, situations requiring escalation, and coordination of special requests.
  • Coordination of audits and exams as needed with the Administrator.
  • Coordination of recap requirements / monthly SOX requirements
  • Reconcile analysis data and maintain analysis data integrity, prepare and scrub data as needed. Ensure that analysis of data complies with all data policies, governance and standards.
  • Tracking of Adjustments and Performance Credits as applicable
  • Billing, Accounting, etc.
  • Adhoc reporting
  • Governance materials
  • Perform in a specialized "audit" team - help to manage the controls based on the contract and operational guidelines
  • Support relationship manager of the TPA/BPS arrangement, standing in as the first point of contact as needed,
  • Responsible for supporting activities that are outside of the agreed upon parameters or when there are changes.


What we're looking for:
  • The individual will be customer focused, with a background in Life and Retirement business / operations and a passion for quality and efficiency. He/she will leverage best practices to deliver world class customer service to drive product and service delivery differentiation in the marketplace.
  • The ideal candidate for this position has subject matter expertise in many areas of inforce customer service. They should also be skilled people managers with strong project management experience. Audit, accounting, claims, SOX, reporting and /or experience with contractual agreements is preferred.
  • The individual will need to be a hands-on, dynamic collaborator with strong listening and teaming skills. He/she must understand the need to connect with, and listen to the requirements of the business, quickly demonstrating the ability to add value. In order to achieve results, qualities such as, personal flexibility, delivery orientation, energy, team orientation, strong influencing and people relationships will be required. She/he will have the ability to collaboratively and effectively develop a strategic operational framework and execute.
  • Anticipate future consequences and trends and incorporate them into the organizational/strategic plan and action.
  • Independently execute on assignments, including planning, implementation and reporting on the results.
  • Demonstrate a good level of relevant industry, accounting and operational knowledge.
  • Understand, identify and evaluate key risks and controls and perform data analysis to facilitate risk assessment and control evaluation.
  • Collaborate with colleagues and internal stakeholders/management to perform risk assessments and develop audit programs for validating internal controls.
  • Coordinate with other control functions such as SOX, Risk Management, Compliance, and external auditors as needed.
  • Excellent organization skills with the ability to manage multiple assignments, set priorities, and meet deadlines.
  • Enjoys working hard and looks for challenges; able to act and react as necessary, even if limited information is available; not afraid to take charge of a situation; can overcome resistance to leadership and take unpopular stands when necessary.
  • Bachelor's degree from a four-year college or university coupled with 5 - 10 years of working experience is preferred.


A look at our benefits

At AIG, we have a 100-year legacy of working to make the world a better place. And that begins with our employees. We're proud to offer a range of employee benefits and resources that help you protect what matters most - your health care, savings, financial protection, and wellbeing. We provide a variety of leaves for personal, health, family, and military needs. For example, the "Giving Back" program allows you to take up to 16 hours a year to volunteer in your community.

We also believe in fostering our employees' development and offer a range of learning opportunities for employees to hone their professional skills to position themselves for the next steps of their careers. AIG also has a tuition reimbursement program for eligible employees to enhance their education, skills, and knowledge in areas that relate to their current position or future positions to which they may transfer or progress.

We are an Equal Opportunity Employer

It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories. At AIG, we believe that diversity and inclusion are critical to our future and our mission - creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.

It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

At AIG, we believe that diversity and inclusion are critical to our future and our mission - creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.

To learn more please visit: https://www.aig.com/about-us/diversity-equity-and-inclusion

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with physical or mental disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to complete any part of the application or hiring process, please send an email to candidatecare@aig.com. Reasonable accommodations will be determined on a case-by-case basis.

Functional Area:
OP - Operations

Estimated Travel Percentage (%): Up to 25%

Relocation Provided: No

American General Life Insurance Company