Distribution Associate

Ascensus • Chicago, IL

432d

About The Position

The Distribution Associate will support the Loans and Distributions team at FuturePlan, ensuring timely and accurate processing of distributions and loans. This role involves close collaboration with internal and external clients to resolve exceptions and maintain high levels of customer service while adhering to the company's core values.

Requirements

• 1-3 years of experience in loans and distributions, retirement plans, or related field
• Demonstrates ability to document procedures that are clear and easy to understand
• Technical Knowledge - Minimal ERISA knowledge or job specific technical knowledge required
• Problem Solving - Effectively solves problems with direction utilizing resources/procedures for a specific process
• Works efficiently with a pre-defined schedule or set of existing priorities
• Works well independently on specific tasks
• Bachelor's degree preferably in Business Administration, Management, Finance or equivalent work experience
• Familiarity with MS-Office software applications, including Excel & Word

Responsibilities

• Timely and accurate processing of assigned disbursements (loans, terminations, hardships, etc.)
• Assist with reconciliation of 1099R records by researching and resolving discrepancies on payouts including applicable state and federal tax withholding, fees, etc.
• Partner with various trust companies, recordkeepers, and internal departments to ensure participant checks are mailed timely and all trust excesses are identified and resolved.
• Timely and accurate production and distribution of 1099R's, RMD's, death benefits, corrective distributions, and other cyclical events related to distribution processing.
• Timely and accurate reinvestment of un-cashed and/or voided distribution checks.
• Effectively communicate with clients on transaction forms that are not in good order and follow up as necessary to ensure timely completion.
• Identify basic internal escalated issues/concerns and refer to the leadership team.
• Provide a high level of customer service while communicating and coordinating with internal/external business units to assist in issue resolution.
• Resolve basic internal and external client issues by responding to all correspondence within communicated and departmental standard timeframes.
• Collaborate with team members to continuously improve processes that enhance the ability to meet team goals and objectives.
• Document procedures and workflows.
• Protect, secure, and properly handle all confidential data held by FuturePlan.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Funds, Trusts, and Other Financial Vehicles
• Education Level: Bachelor's degree
• Number of Employees: 251-500 employees