Manulife
Financial Services
NewBusinessAssistant–FinancialOperations
Neural analysis suggests this role is
optimal for Entry candidates.
“New Business Assistant– Financial Operations at Manulife. Skills: Financial Operations, New Business Processing, Premium Processing, Suspense Account Management. Support life insurance new business processing by ensuring accurate and timely handling of financial transactions.. Process premium refunds for declined, withdrawn, or amended life insurance applications.”
What You'll Achieve.
Ensuring correct policy issuance; Ensuring financial integrity; Compliance with regulatory and internal control requirements; Accurate allocation of premiums; Timely clearance of unallocated or misapplied payments; Enhance efficiency and accuracy in payment processing
Industry & Context.
Investigate payment discrepancies, unmatched collections, and rejected transactions, and coordinate resolution with internal stakeholders.; Identify recurring issues in payment processing and recommend process improvements to enhance efficiency and accuracy.
What They're Looking For.
Must Have
1-2 years experience in life insurance operations, financial services, or shared services
Nice to Have
Bachelor’s degree in Accounting, Finance, Business Administration, or a related field, Familiarity with premium processing, refunds, suspense accounts, and policy administration systems
What You'll Do.
Support life insurance new business processing by ensuring accurate and timely handling of financial transactions.
Process premium refunds for declined
or amended life insurance applications.
Execute and monitor fund transfers related to new business applications
Perform cross-entry of payments between finance systems and policy administration systems.
Handle suspense account transactions
including investigation
and timely clearance of unallocated or misapplied payments.
Perform daily and periodic reconciliation of premium collections against bank statements and policy system records.
Investigate payment discrepancies
unmatched collections
and rejected transactions.
Ensure all transactions comply with internal controls
and regulatory standards.
Prepare or support reports related to premium collections
and outstanding items.
Identify recurring issues in payment processing and recommend process improvements.
How You'll Work.
Team & Collaboration
Work closely with New Business, Underwriting, Finance, Customer Service, and Bancassurance/Agency teams to resolve financial or premium-related issues.; Coordinate resolution with internal stakeholders.; Support internal and external audits by providing required documentation and explanations.
Communication Scope
Provide transaction status updates
Full Job Description
The New Business Assistant – Financial Operations supports life insurance new business processing by ensuring accurate and timely handling of financial transactions. The role is responsible for premium refunds, fund transfers, cross-entry of payments, suspense account management, and other related financial activities. This position plays a vital role in ensuring correct policy issuance, financial integrity, and compliance with regulatory and internal control requirements. **Position Responsibilities:** Financial Transaction Processing * Process premium refunds for declined, withdrawn, or amended life insurance applications in accordance with company policies and turnaround time standards. * Execute and monitor fund transfers related to new business applications, policy corrections, and reallocations. * Perform cross-entry of payments between finance systems and policy administration systems to ensure accurate allocation of premiums. * Handle suspense account transactions, including investigation, validation, allocation, and timely clearance of unallocated or misapplied payments. Reconciliation and Controls * Perform daily and periodic reconciliation of premium collections against bank statements and policy system records. * Investigate payment discrepancies, unmatched collections, and rejected transactions, and coordinate resolution with internal stakeholders. * Ensure all transactions comply with internal controls, audit requirements, and regulatory standards applicable to life insurance operations. Coordination and Support * Work closely with New Business, Underwriting, Finance, Customer Service, and Bancassurance/Agency teams to resolve financial or premium-related issues. * Provide transaction status updates and support policy issuance by ensuring premium completeness and accuracy. * Maintain complete and accurate documentation for all financial transactions. Reporting and Process Improvement * Prepare or support reports related to premium collections, refunds,
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