TPA Operations Business Analyst

Group 1001•Zionsville, IN

3d•Onsite

About The Position

Group 1001 is a consumer-centric, technology-driven family of insurance companies on a mission to deliver outstanding value and operational performance by combining financial strength and stability with deep insurance expertise and a can-do culture. Group1001’s culture emphasizes the importance of collaboration, communication, core business focus, risk management, and striving for outcomes. This goal extends to how we hire and onboard our most valuable assets – our employees. Why This Role Matters: The Business Operations Analyst will manage multiple aspects of operational oversight of Group1001's blocks of business managed by our Third-Party Administrators (TPA). This role is critical to ensuring financial accuracy, operational integrity, and adherence to service level agreements. The analyst will serve as a key liaison between Group1001 and the TPAs, ensuring all reconciliation activities, transaction monitoring, and reporting are executed accurately and timely. The successful candidate will bring a strong analytical mindset, attention to detail, and the ability to collaborate effectively across teams to drive operational excellence.

Requirements

Bachelor's degree in Finance, Accounting, Business Administration, or a related field.
3+ years of experience in operations, reconciliation, business analysis, or a related role within financial services or insurance.
Strong analytical and problem-solving skills with high attention to detail.
Proficiency in Microsoft Excel (pivot tables, VLOOKUP, advanced formulas) and reporting tools.
Experience monitoring SLAs and managing third-party vendor relationships.
Excellent written and verbal communication skills.
Working understanding of operational technologies and systems used to support business needs.
Demonstrated experience partnering with Operations, Technology, and TPA teams to implement process and system changes.
Ability to manage multiple priorities and meet deadlines in a fast-paced environment.

Nice To Haves

Deep understanding of annuity operations, including policy administration, premium processing, surrenders, withdrawals, and death claims.
Prior experience in a business analysis role, including requirements gathering, process mapping, and stakeholder management.
Experience working with Third Party Administrators (TPAs) in the insurance industry.
Familiarity with policy administration systems and reconciliation platforms.
Knowledge of regulatory and compliance requirements in the life insurance and annuity space.
Experience with data visualization or BI tools (e.g., Sigma, Power BI, Snowflake).

Responsibilities

Perform suspense and gain/loss reconciliation, identifying and resolving discrepancies, conducting root cause analysis of variances, and ensuring accurate financial reporting internally and with TPAs.
Maintain daily queue hygiene and perform monthly operational process reviews, prioritizing work, ensuring timely resolution of outstanding items, and identifying trends, gaps, and opportunities for improvement.
Partner with the Operational Excellence team and Ops Leadership to review and shepherd guideline changes through the internal and TPA processes, ensuring alignment with industry and compliance standards.
Monitor TPA Service Level Agreement (SLA) performance and oversee pending and failed transaction monitoring, tracking key metrics, escalating issues as needed, partnering with the TPA to investigate, resolve, and prevent recurrence, and collaborating with the Data team to create controls leveraging our data warehouse.
Conduct ad-hoc reporting and analysis to support business decisions, audits, and operational reviews.
Drive business process alignment between Group1001 and the TPA, ensuring consistent execution of standard operating procedures and identifying automation opportunities.
Serve as a liaison between Group1001’s internal Operations team and the TPA’s Operations and Technology team, acting as a voice of the process to ensure business needs are clearly translated into the TPA system and process implementations – validating that TPA technology changes, configurations, and process updates fully meet Group1001’s operational and business requirements before, during, and after deployment.
Support the rollout of new TPA processes, spanning both business process redesign and technology-enabled improvements such as automation, system enhancements, and workflow optimization.
Partner with internal stakeholders (Operations, Finance, Compliance, IT, Data, Distribution) to address operational issues and implement improvements.
Document findings, prepare control reports, and support audit and compliance activities by presenting insights to executive leadership and providing reconciliation evidence and operational documentation.