The Retirement Transaction Specialist position is responsible for all aspects of posting, processing and reconciling daily trade files. Including posting transactions into the recordkeeping system, balancing, reconciliation and follow-up.
Duties include but are not limited to:
- 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.
- Process expected volume of all distributions and loan withdrawals daily.
- 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.