OPERATIONS SERVICE REPRESENTATIVE
The Operations Service Rep II position in Centralized Processing provides advanced support to 401K plans in implementing and processing participant level transactions. The high dollar value and complex processing of retirement plan transactions such as withdrawals require advanced technical skills and necessitate good working relationships with PSC, Client Teams, New Business, and Technical Team.
Reviews and processes complex and/or high dollar participant level transactions (withdrawals, rollovers, enrollments and various maintenance requests); reviews requests for proper documentation and authorization; performs necessary research in account history, Automated Word Database, and/or Participant Service Center to complete the transaction; communicates either verbally or in writing with plan participants to clarify instructions, get additional information or to reject a pending transaction; receives instructions as a transfer agent and maintains a series 6 and 63 license.
Performs quality checks of transaction processed by other team members to ensure compliance with plan rules and TRP service standards; Identifies and takes action on errors; researches and implements prevention plans to minimize similar errors in the future; maintains departmental standards for quality and productivity.
Maintains, reviews, and updates Plan Rules Database to ensure processing is in compliance with plan document provisions, stated workflows, and IRS legislation; performs daily reviews of work items and queues to ensure accuracy and quality of work being processed by the overall group. (This includes but is not limited to loan closing, WD closing, and fed-ex closing procedures); reconciles previous day’s transactions totaling $100k plus, for the entire business unit while meeting various morning check processing and trading deadlines. Coordinates with other business areas to reconcile previous day’s withdrawal and loan transactions, as well as uses DST to coordinate with Retail to provide seamless transitions from 401K to TRP Retail accounts.
Acts as an SME and/or mentors new team members during classroom or on-the-job training; Identifies processing inefficiencies and areas of improvement, provides ideas on how to make improvements; contributes to business-related projects as needed.
High school diploma/equivalent and 1 year related work experience, or Associate degree, or College degree
Ability to perform well under time constraints
Strong written and verbal skills
Attention to detail and the ability to under the implications of multiple day financial trading
Ability to interact with a diverse range of individuals to obtain information
Ability to adapt to changes in procedures and workflows
Excellent customer service and interpersonal skills
College degree in Finance or Business Administration
Founded in 1937, T. Rowe Price is a global investment management organization with $725.5 billion in assets under management as of September...