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Retirement Distribution Processor, Senior
This position is responsible for accurate and timely processing, oversight, and training of complex employee benefit plan transactions according to documents and internal procedures under minimal supervision. This
person will have strong system knowledge enabling them answer Alerus Retirement and Benefits (ARB) staff questions. This person will exhibit strong attention to detail, and be able to work in a fast paced environment quickly and accurately. The person in
this position will be self-motivated, and will be one of the main contacts in the processing area.
Job Function 1: Processing - 65%
- Working with limited
supervision, processing complex account sets. May include non-qualified plans, special handled funds, stock processing, specific client accounts, and other unique situations.
- Complete complex processes which may include creating PRR, in-kind
transfers, communication with outside vendors, and other process as assigned.
- Process transaction/correction requests which may include residual distributions, balance as fees, plan to plan transfers, or other corrections as needed.
oversight for fee/transaction exception lists and VRU.
- Process self-directed fund transfer requests.
- Monitor workflows and back up all other positions as needed, including processing and check handling.
- Research and handle high
level or sensitive projects/issues to assist administrator, other processors, or management with problem resolution.
- Develop and maintain positive working relationships and provide professional, accurate, and clear communication, both to internal
staff and external clients.
Job Function 2: Enhancements and Oversight - 20%
- Responsible for identifying efficiency needs and process improvements, working with IT resources to enhance current
systems, including OmniPlus. Test new systems, upgrades or enhancements to current systems.
- Responsible to assist in implementing new procedures when policy changes due to management decisions or regulatory changes, creating procedures and training
- Assist management with projects and provide situational expertise with issues that arise.
- Responsible for noting trends or issues and informing management of any potential issues.
3: Back-Up and Training - 15%
- Understand, back-up, and train processing all types of distributions and loans. Examples include lump sums, in-service, 70 ½ withdrawals, QDRO’s, testing refunds, hardships,
stock, installments, and Roth.
- Calculate and verify vesting and forfeitures.
- Research and respond to distribution/loan issues in accordance to plan, procedures, and standards, collaborating with the assigned plan administrator or senior
staff member when necessary.
- Understand and communicate the withdrawal features of Omni and other ancillary systems used in performing distribution and loan processing.
- Associates degree or equivalent combination of education and/or experience required.
- Minimum three years’ experience in financial or retirement operations or related area,
- Demonstrated knowledge of retirement and recordkeeping systems and recordkeeping operational functions.
- Proven record of working in a fast paced environment while managing multiple tasks & deadlines.
- Advanced PC skills
including Microsoft Excel and Word.
- Demonstrated ability to collaborate with employees and clients.
- Ability to work accurately with numbers, performing data entry and basic math calculations.
- Effective written and oral communication
- Ability to effectively prioritize, manage, and complete multiple assignments and daily work load to meet deadlines.
- Excellent problem-solving skills and high attention to detail with exceptional organizational
- Available to work flexible hours to cover peak workloads and to meet daily workload schedules.
- Ability to adapt to a fast-paced, changing environment.
to work independently using checklists and procedures with minimal work direction.
- Ability to work in a team-oriented, collaborative environment.
- Able to maintain a positive attitude working in a changing environment.
- Ability to
apply prior experience to a given situation and find resolution.
- Persuasive, encouraging, and motivating.
- Ability to communicate effectively with clients and coworkers.
- Ability to work independently while supporting a collaborative,
team orientated environment.
- Reliable follow through without supervision.
- “Outside the box” thinker.
- Positive attitude and team motivator.
Physical Demands - Must be met with or without a
- Extended periods of time at a desk and using office equipment.
- Ability to operate a personal computer/laptop for approximately 8 hours per day.
- Extended time is spent reviewing documents, both
actual papers or electronic.
- The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl. Vision abilities required by this job include close vision.
may also do light lifting of supplies and materials which weighs in at approximately 20 lbs.
- Will spend most of time in an indoor environment.
Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans
and individuals with disabilities.
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