Alerus Financial Retirement Distribution Specialist in Albert Lea, Minnesota
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 in our Albert Lea, MN office to process employee benefit plan transactions, distributions, and loans according to documents and internal procedures under limited supervision accurately and timely. 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 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. For more information regarding the responsibilities and qualifications for this opportunity or to apply, visit our website at www.alerus.com/about-us/careers/employment. Click on View Jobs and then select the position titled Retirement Distribution Processor . We look forward to reviewing your application and thank you for your interest in Alerus Financial! Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.