Lead Retirement Transaction Specialist

The Lead Retirement Transaction Specialist position is responsible for all aspects of posting, processing and reconciling daily trade files using the Schwab Retirement Technologies system (SRT). Oversee a team of 2 to 3 team members to ensure that posting transactions into the recordkeeping system, balancing, reconciliation and follow-ups are done timely and accurately. Performing semi-complex clerical, accounting and data entry functions accurately. Provide excellent written and oral communication with internal staff and clients to maximize quality, quantity, cost-effectiveness, profitability and total customer/client satisfaction.

Key Responsibilities

• Researching and processing corrections and transactions timely and accurately.
• Work with administrators to resolve client issues, offer solutions to satisfy the needs of the clients.
• Implement processes and or procedural changes when needed.
• Assist teammates with the workload as needed.
• Document and maintain all outstanding issues and their accurate resolution, escalating as needed.
• Perform plan level fund exchanges/mapping following strict department process and timeline.
• Work directly with custodians, clients and financial advisors on fund specific paperwork that may be needed, funding restrictions, and fund-company initiated changes.
• Position Balancing.
• Setting up new business in the SRT system.
• Generate, review and release quarterly participant statements.
• Ability to implement and work with Schwab to set up new features as they are released
• Research and post all incoming funds for plan contributions. This includes accurate plan research for all incoming checks, wires and ACHs.
• Responsible for timely submission and verification of ACH debit requests.
• Import and balance all contribution transactions to ensure accurate import across all money types.
• Understand and process all types of distributions and loans. Examples include lump-sum, in-service, hardship, QDROs, separation from service)
• Process expected volume of all distributions and loan withdrawals daily within quality and service standards.
• Identify, input and monitor client-specific notes affecting processing for each plan.
• Update tracking system with the status of all contributions and distributions.
• Enter 1099R data for requested withdrawals.
• Perform daily reconciliation of all outstanding cash for each plan and follow up as needed.
• Answer incoming questions regarding contribution processing from internal staff and clients.
• Assist with the monitoring of trends and report on areas of possible improvement or tasks in need of streamlining.