NQ Reconciliation Specialist, Newport

About the role

Newport, an Ascensus company, helps employers offer their associates a more secure financial future through retirement plans, insurance and consulting services. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them.

Working closely with internal and external resources, the Reconciliation Specialist performs functions to support Non-Qualified Plan Asset and Liability Management for clients by ensuring financial data integrity of cases and recommending appropriate financial adjustments to Trust accounts and/or plan liabilities.

Responsibilities

• Works with trust/trading platform and internal resources to ensure the plan assets are hedged to the plan liabilities.
• Performs quality assurance reviews, daily cash and unit reconciliation
• Reconciles cash positions with incoming deposits and pending trades.
• Understands general trading functions and the different security types.
• Compares system output from multiple systems, reconciles, recommends trades, and communicates status of assets and records.
• Identifies and researches discrepancies and takes appropriate action to resolve.
• Identifies, analyzes, and assists in executing improvements for any daily administrative processes and procedures.
• Assists in the development of additional financial controls and identification of preventative measures.
• Manages outgoing payments and tax documentation for plan participants.
• Assists in the Trust setup process to ensure required paperwork is complete and accurate.
• Analyzes data, reconciles participant records and trust accounts, and resolves asset and data transfer issues.
• Effectively interacts with vendors, the team, and other areas of the firm.
• Works in a fast-paced, demanding environment under tight deadlines.

Requirements

• Two years’ experience in financial service industry with knowledge and experience in trust setup, reconciliation, and asset transfer.
• Working knowledge of MS Excel and Word.

Qualifications

• Bachelor's degree (B. A.) from four-year college or university (preferred but not required).

Skills

• Customer Oriented
• Detail Oriented
• Verbal and Written Communication Skills
• Independent
• Personable
• Planning And Organizing
• Resourceful
• Team Player
• Thoroughness
• Time Management
• Accuracy
• Self-Starter