Operations Associate II, Distributions

About the role

Operations teams are responsible for back-office transaction processing for plans, including enrollment, payroll, and distribution processing. These teams work closely with internal and external clients to ensure transactions are processed in a timely manner and exceptions are resolved quickly. The Operations Associate II supports the team in providing a high level of service to both internal and external clients, focusing on timely and accurate processing of specified operational activities to meet daily, weekly, and monthly SLAs. The role involves understanding operational workflows as they relate to the individual role and Operations as a whole.

Responsibilities

• Investment Services:
  • Ensure timely and accurate investment of contributions processing.
  • Identify root causes and recommend solutions for investment delays.
  • Communicate with service team, client, broker, trustee, and partner while tracking with appropriate documentation.
  • Ensure timely and accurate processing and loading of participant census information.
  • Analyze, identify, and resolve census irregularities.
  • Reconcile trust accounts to ensure the investment process continues.
  • Analyze, identify, and resolve outstanding balances.
• Enrollments:
  • Ensure timely and accurate processing of participant enrollment/census information.
  • Complete all requests timely and accurately.
  • Process and QC enrollments with a general understanding of enrollment processes.
  • Effectively communicate (verbally/written) with clients on forms that are not in good order and see forms through to completion.
  • Support Product Operations functions such as pending transactions, Morningstar processing, and Enrollment Guide order processing.
  • Analyze, identify, and resolve client issues.
• Distributions:
  • Ensure timely and accurate processing of all distributions (loans, terminations, hardships, etc.).
  • Assist with quality checks for all distributions.
  • Research and resolve outstanding issues related to distributions processing.
  • Reconcile 1099 records by researching and resolving discrepancies on payouts, including applicable state and federal tax withholding, recordkeeping fees, etc.
  • Partner with trust companies and internal departments to ensure participant checks are mailed timely and trust excesses are identified, invested, or resolved.
  • Ensure timely and accurate production and distribution of 1099Rs, RMDs, and other cyclical events related to distribution processing.
  • Reinvest uncashed and/or voided distribution checks timely and accurately.
  • Effectively communicate (verbally/written) with clients on transaction forms that are not in good order and see forms through to completion.
• General Duties and Responsibilities:
  • Provide a high level of customer service and professionalism while communicating and coordinating with internal/external business units to assist in issue resolution.
  • Research and resolve comments or client requests as assigned.
  • Provide management reporting as required by partner.
  • Achieve service level goals identified by each financial partner.
  • Participate in audit activities and cyclical events as required by partner.
  • Document procedures and workflows.
  • Collaborate with team members to continuously improve processes and meet team goals.
  • Resolve internal and external client issues by responding to all correspondence within communicated and departmental standard timeframes.
  • Provide mentoring and training to teammates or peers as necessary.
  • Review processes and make recommendations for improvement as needed.
  • Protect, secure, and handle all confidential data to prevent unauthorized access, improper transmission, or unapproved disclosure.
  • Embody Ascensus’ I-Client service philosophy and Core Values of People Matter, Quality First, and Integrity Always® in daily actions.
  • Assist with other tasks and projects as assigned.
  • Proactively adopt, protect, and embrace emerging technologies (AI, automation, etc.) and evolving practices to advance Ascensus’ mission and client commitments.

Requirements

• Communication Skills: Ability to clearly articulate and document actions taken or necessary, primarily with peers and supervisors.
• Technical Knowledge: Basic understanding of assigned tasks underpinning operational functions; no to minimal ERISA or job-specific technical knowledge required.
• Problem Solving: Effectively solve problems with direction, utilizing resources/procedures for defined resolutions.
• Detail Orientation: Focus on details of specific tasks related to a process.
• Conflict Resolution: Identify and escalate conflicts for resolution by senior associates or leadership.
• Training/Mentoring: Requires training in business functions as a new associate.
• Risk Taking/Decision Making: Make decisions on participant or plan-level transactions based on precedent; assistance may be required.
• Planning/Organizing: Plan for current day to meet task-specific objectives; may require assistance with department-specific task organization.
• Time Management/Prioritization: Work best with a predefined schedule or set of priorities; needs assistance with conflicting priorities.
• Work Style: Requires regular direction; once received, can effectively complete tasks and report results.
• Initiative/Work Ethic: Complete daily work as assigned; seek opportunities to assist peers and take on additional departmental responsibilities when assigned.

Qualifications

• Bachelor’s degree in Business Administration, Management, Finance, or equivalent work experience.
• Familiarity with MS-Office software applications, including Excel, PowerPoint, Word, and Visio (familiarity with Access preferred).