Financial Settlement Specialist

Symetra has an exciting opportunity to join our team asa Financial Settlement Specialist!

About the role

This role is responsible for the execution of multiple financial transactions on behalf of the disability claims area. Responsibilities will include calculation of pre-disability earnings based on contract provisions, calculating, tracking and recovery of overpayments, processing of lump sum payments for underpayments and initiating stop and void transactions. Monitoring of banking subaccounts for the ASO product. Overall knowledge of group disability products, the ability to decipher a disability contract and a fundamental understanding of the downstream impacts of the work performed, along with strong Excel skills, is key to the success of this role. This role may assist with other financial responsibilities of the claims teams as needed and directed by the financial manager.

What you will do

• Calculate Pre-Disability Earnings figures for LTD claims based on operational guidance and at the request of the claim teams. Refer complicated calculations to external CPA as appropriate. Collaborate with the claim teams to refine process and procedures based on observed trends and opportunities. Discuss ambiguities in financial documentation or plan documents with the claim teams that may involve discussions with the employers, policyholders, claimants, and claim team managers. Utilize calculation tools to document figures and update any appropriate claim system fields accordingly.
• Review financial data (offsets, earnings changes, tax adjustments, duration changes, etc.) that create overpayments or underpayments of disability benefits and the policy / plan provisions pertaining to the specific situation. Calculate the underpayment / taxes and process a lump sum payment in the claims system. Calculate the overpayment and prepare correspondence to explain the nature and amount of the overpayment.
• Work with the claimant and / or appropriate vendors to recover the outstanding overpayment amount in a timely fashion. Follow-up with the claimant, independently negotiate repayments terms, and / or use judgement for a potential referral to a collection vendor as appropriate. Make necessary adjustments to claims for repayments (via ACH or check) as they are received.
• Communicate on a professional, comprehensive, and accurate basis with claimants, policyholders, brokers, and vendors concerning overpayment recovery issues. Document the claim system in an accurate and thorough manner. Notify appropriate internal partners of impact to other functional areas (tax, reporting, claims, etc.) as appropriate. Remain fully compliant with operational standards and turnaround time expectations.
• Process stop payment and void transactions within the claims system and the banking platform through referrals from both the Short-Term Disability and Long-Term Disability claim teams.
• Responsible for monitoring and managing ASO Full Service subaccounts (daily, weekly, monthly). Reviewing reports, reconciling weekly ACH debits and correcting issues found. Closely works with the Treasury and Financial department.
• Responsible for researching outstanding checks that reach a dormant period of six months. Determine if the payment is still due to the payee and follow the defined process of voiding a payment or sending correspondence notification of the dormant check. Work with the Escheatment department to void and reissue escheated checks when requested.

Why Work at Symetra

Here's what some of our employees have to say about why they work at Symetra :

"I chose Symetra because I heard it was a pro-employee company-and it's absolutely true. The work environment is supportive, the people are great, and the benefits are generous. Symetra truly cares about its employees. The relaxed atmosphere and opportunities to learn and grow-both within your role and beyond-make it a great place to build your career." - Alicia L., Claims Examiner

"What I was searching for was a company that genuinely valued my voice-and I found that at Symetra. I truly enjoy working one-on-one with our customers, especially when they're going through life's toughest moments. Being able to offer support and hear their relief and gratitude when we help-it's deeply meaningful. That's what makes me proud to be part of the Symetra team." - Lilly H., Claims Team Lead

What we offer you

Benefits and Perks

We don't take a "one-size-fits-all" approach when it comes to our employees. Our programs are designed to make your life better both at work and at home.

Compensation

Salary Range : $64,200 - $106,900 plus eligibility for annual bonus program

Who You Are

We empower inclusion

At Symetra, we aspire to be the most inclusive insurance company in the country. We're building a place where every employee feels valued, respected, and has opportunities to contribute.

Inclusion is about recognizing our assumptions, considering multiple perspective, and removing barriers. We accept and celebrate diverse experiences, identities, and perspectives, because lifting each other up fuels thought and builds a stronger, more innovative company. We invite you to learn more about our efforts here .

Creating a world where more people have access to financial freedom

Symetra is a national financial services company dedicated to helping people achieve their financial goals and feel confident about the future. In our daily work, we're guided by the principles of Value, Transparency and Sustainability. This means we provide products and services people need at a competitive price, we communicate clearly and openly so people understand what they're buying, and we design products-and operate our company-to stand the test of time. We're committed to showing up for our communities, lifting up our employees, and standing up for diversity, equity and inclusion (DEI). Join our team and help us create a world where more people have access to financial freedom.

For more information about our careers visit : https : / / symetra.eightfold.ai / careers

Work Authorization

Employer work visa sponsorship and support are not provided for this role. Applicants must be currently authorized to work in the United States at hire and must maintain authorization to work in the United States throughout their employment with our company.

Please review Symetra's Remote Network Minimum Requirements :

As a remote-first organization committed to providing a positive experience for both employees and customers, Symetra has the following standards for employees' internet connection :

When applying to jobs at Symetra you'll be asked to test your internet speed and confirm that your internet connection meets or exceeds Symetra's standard as outlined above.