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Retirement Distribution Processor I - Albert Lea, MN

 

 

Retirement Distribution Processor I - Albert Lea, MN

Requisition Number: 17-0041

Requisition Number 17-0041
Post Date 3/22/2017
Title Retirement Distribution Processor I
City Albert Lea
State MN
Description

This position is an entry level position responsible for the accurate and timely processing of employee benefit plan transactions, distributions, and loans according to documents and internal procedures under limited supervision. This person will process forfeitures, loan defaults, loan payoffs, and answer client and ARS staff questions. This person will exhibit a strong attention to detail, will be responsible to understand all aspects of the distribution/loan area, and be able to work in a fast paced environment quickly and accurately.

JOB FUNCTION NUMBER 1: Distribution and Loan Processing. (85%)

  • Understand and be able to process all types of distributions and loans. Examples include lump sums, in-service, testing refunds, and 70 withdrawals.
  • Process expected volume of all distributions and loan withdrawals daily within quality and service standard of one day.
  • Identify, input and monitor client-specific notes in the recordkeeping system affecting the withdrawals and loans.
  • Research and respond to distribution/loan issues in accordance to plan, procedures, and standards, seeking help from Administrator or Senior staff member when necessary.
  • Update the ARS Tracking system as required pertaining to status of distribution and loan requests.
  • Understand and have ability to communicate the withdrawal features of Omni and other ancillary systems used in performing distribution and loan processing.
  • Enter 1099R data accurately for requested withdrawals.
  • Prepare correspondence accurately and according to department procedures and standards.
  • Respond to and act on all e-mails/phone calls within 24 hours of receipt.
  • Assist in identifying procedural enhancements or training needs of others.

JOB FUNCTION NUMBER 2: Other Plan Activity Processing. (10%)

  • Process loan defaults and payoffs within quality and service standards.
  • Calculate and verify vesting and forfeitures.

JOB FUNCTION NUMBER 3: Documentation and backup. (5%)

  • Maintain documentation of functions, checklists and procedures in R&R database.
  • Assist team members during busy times where needed.
  • Monitor time at desk and inform manager when more functions can be added to the desk.

Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.


Requirements

QUALIFICATIONS:

  • Bachelors degree or equivalent experience; 1+ years prior experience in retirement operations or related area preferred. 
  • Proficient PC skills including Microsoft Word and Excel.
  • Ability to work with numbers using basic math skills.
  • Ability to accurately and timely perform data entry.
  • Effective written and oral communication skills.
  • Ability to effectively prioritize and manage daily work load to meet deadlines.
  • Excellent problem-solving skills and attention to detail with exceptional organizational skills.

PERSONAL CHARACTERISTICS:

  • Ability to adapt to a fast-paced, changing environment.
  • Ability to work independently using checklists and procedures with minimal work direction.
  • Ability to work in a team-oriented, collaborative environment.
  • Must be able to work in a changing environment and have a positive attitude.

PHYSICAL DEMANDS: (MUST BE MET WITH OR WITHOUT A REASONABLE ACCOMMODATION)

  • Able to sit, stand, walk, talk, hear, see, & use hands and fingers.


Featured Employer Information
ALERUS
3137 32ND AVE S
FARGO ND 58103
Website:
www.alerus.com/about-us/careers/