I have worked in all sorts of models as a Usability Engineer, Interaction designer, UX architect and now a UX Designer (which is basically a unicorn I do interaction design, visual design and usability testing).
However in my last role I was a UX architect. I basically did all the interaction design in Axure. Visual designs created by a visual design team after I had designed the interaction/wireframes. Yes the issues were handover and communicating tiny design decisions. And yes my designs got changed quite substatially the whole time without my involvement. So essentially my role became just to create a straw man for everyone else to fiddle with (very unsatisfying). It was a very waterfall process except that they used the words scrum and agile quite alot :-)
My deliverables were mainly User journeys, wireframes and Axure prototypes which were quite fiddley and I was supposed to specify interactions on the prototypes using words essentially. The only thing that made this work is that I sat literally next to the visual designer I worked with so we communicated verbally alot. It was very specification heavy because our development was outsourced. We did no user testing at all. Generally a horrible way to work. No good design gets done in such an environment.
In my current role I use sketch and invision and our process is pretty Lean UX (read the book if you haven't)/Agile. I am fully involved from early statge design through to testing. Even have contact with marketing and sales. I remote user test everything I design. All works so much better and very agile. Most of my communication is directly with developers now. Working in a properly agile environment is so much more rewarding.
I think a UX role is a translator and user advocate role. In other words our role can firstly enable different functions to communicate adequately so the whole team explore the design possibilities well. Secondly the role is about keeping the focus on the how the product is going to be used by its various different personas front and central at every stage.
Personally if I were you I might look to move. There are loads of UX roles out there with better set ups nowadays. If your job role is constraining getting good work done then it might be time to explore that!