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TPA Operations Business Analyst

TPA Operations Business Analyst

Group1001

Zionsville, IN • On-site

Full-time

Medical, Dental, Vision, Life, Retirement

Posted 14 days ago

Group1001 rating

9.5

Company rating: 9.5 out of 10

Based on 8 frontline employees who took The Breakroom Quiz

8th of 298 rated insurance

Job description

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.
How You'll Contribute:
  • 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.

What We're Looking For:
  • 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.

Preferred Qualifications
  • 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).

Key Competencies
  • Analytical thinking
  • Attention to detail
  • Collaboration and partnership
  • Accountability and ownership
  • Process orientation
  • Effective communication

Benefits Highlights:
Employees who meet benefit eligibility guidelines and work 30 hours or more weekly, have the ability to enroll in Group 1001's benefits package. Employees (and their families) are eligible to participate in the Company's comprehensive health, dental, and vision insurance plan options. Employees are also eligible for Basic and Supplemental Life Insurance, Short and Long-Term Disability. All employees (regardless of hours worked) have immediate access to the Company's Employee Assistance Program and wellness programs-no enrollment is required. Employees may also participate in the Company's 401K plan, with matching contributions by the Company.
Group 1001, and its affiliated companies, is strongly committed to providing a supportive work environment where employee differences are valued. Diversity is an essential ingredient in making Group 1001 a welcoming place to work and is fundamental in building a high-performance team. Diversity embodies all the differences that make us unique individuals. All employees share the responsibility for maintaining a workplace culture of dignity, respect, understanding and appreciation of individual and group differences.

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