Reach Your Peak with ICMA-RC, a FINANCIAL SERVICES LEADER in public sector employee retirement products and services. Headquartered in Washington, DC, our Financial Services corporation manages over $40 billion in retirement plan assets for more than one million participant accounts. We are constantly looking for ways to create new opportunities to serve our participants. We have an extraordinary talent base and invite you to consider joining ICMA-RC's Client Services team.
The position is primarily responsible for the daily analysis, research, client contact, processing, and transaction review related to Section 457, 401(a), and 401(k) plan disbursements. It is expected that this associate will continuously analyze current operating procedures for improvement and efficiency. This associate will be working with complex disbursement rules related to a variety of withdrawal types such as: including monthly benefit payments, rollovers and loans. In addition, the associate will be responsible for some peer review to assure the quality of transactions, and will be assigned to work with an employer client with special plan rules.
Essential functions for this role include:
• Process basic and intermediate types of withdrawal requests, including but not limited to full lump sums, partial lump sums, installment payment set-ups, payment schedule changes, rollovers, co-administrator transfers, and emergency and hardship withdrawals, etc. Apply appropriate rules for acceptance of requests, calculate benefit projections, and identify and communicate any issues to customers by mail.
• Contact participants, employers, and other financial institutions to clarify issues and to ensure the correct handling of disbursement requests. Compose letters to customers as needed to address their requests and concerns.
• Handle special assignments on a rotating basis, including but not limited to emergency withdrawal preparation, beneficiary account review, research of incomplete items in the work queues, loan preparation, special mailing requests, co-administrator transfer wire report, and research of ACH and wire rejects.
• Review daily control and reconciliation reports. Perform unit level transaction edit review periodically to support the daily settlement process.
• Actively participate in process improvement. Make suggestions and updates to the processing checklists as needed. Suggest system enhancements to improve efficiency and quality.
• Handle once a month cross divisional edit review prior to transactions cycle.
• Manage the processing and client contact for a plan sponsor whose plan has special rules and requirements.
• Other duties as assigned.
If you have the following credentials, we encourage you to apply:
• BA/BS Degree or equivalent work-related experience.
• 1-3 years of accounting, financial services or similar environment; retirement plan record keeping preferred.
• Knowledge of rules and regulations for 401 and 457 plan processing, preferred.
• Organizational skills, attention to detail, problem solving and analytical skills.
• Successful experience in dealing with individual and institutional customers.
• OmniPlus and/or OmniStation, and OmniPay experience, preferred.
• Keen attention to detail and strong analytical skills.
• Ability to work in a high volume environment with very firm daily deadlines.
• Strong oral, written and interpersonal skills.
For your well-being, we offer a solid compensation and benefits package that features a competitive salary, a straight-forward incentive plan that rewards results, and a 401(k) Plan.
For your career, we offer tuition reimbursement, professional development courses, seminars, career enrichment assignments, mentoring programs and a record of enterprise growth that creates continuing opportunities for career advancement.
Consider ICMA-RC, and respond in strictest confidence. ICMA-RC is an Equal Opportunity Employer that values diversity in the workplace. Minorities and women are encouraged to apply. We look forward to hearing from you.