Our growing organization is seeking talented professionals who are in search of a challenging and rewarding
work environment! We are currently hiring a Retirement Distribution Specialist III in our Arden Hills or Albert Lea, MN office to accurately and timely process employee benefit plan transactions, distributions, and loans according to documents and internal
procedures under limited supervision. This person will process plan mergers, plan to plan transfers, loan refinances, SSN corrections, and answer client and ARB 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 (80%)
Understand and be able to process all types of
distributions and loans, including the more complex plan types. Examples include lump sums, in-service, QDRO’s, testing refunds, hardships, stock, installments, Roth and 70 ½ 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 ARB Tracking system as required pertaining to status of distribution and loan
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
Prepare correspondence accurately and according to department procedures and standards.
JOB FUNCTION NUMBER 2: Plan Related Processing (15%)
Process plan to plan transfer requests within quality and service
Research and correct SSN discrepancies.
Process loan refinancing requests.
Process self-directed fund transfer requests.
Calculate and verify vesting and forfeitures.
Update the ARB Tracking system as
required pertaining to plan transactions.
JOB FUNCTION NUMBER 3: Additional Responsibilities (5%)
Maintain documentation of functions, checklists and procedures in R&R database.
Respond to and act on all e-mails/phone
calls within 24 hours of receipt.
Assist team members during busy times where needed.
Assist manager with special projects as assigned.
Assist in identifying procedural enhancements or training needs of others.
at desk and inform manager when more functions can be added to the desk.
Alerus offers a challenging and rewarding work environment as well as competitive compensation and a comprehensive benefits package which includes health, dental, vision,
paid time off & holidays, retirement benefits, and more!
Alerus is a customer-driven financial services company unlike any other. We are an independent, multibillion-dollar financial services organization serving customers across the country and
around the world. We offer a broad array of banking and wealth management products and services. Our knowledgeable staff assists our customers in identifying and attaining their financial goals.
Alerus Financial is an Equal Opportunity Employer of
women, minorities, protected veterans and individuals with disabilities.