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Contribution Loan Payment Specialist
Associated Bank
Neenah, WI, United States
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Description
Associated Bank is an equal opportunity employer committed to creating a diverse workforce. We support a work environment where colleagues are respected and given the opportunity to perform to their fullest potential. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors. Applicants with a disability who need assistance applying for a position with Associated Bank are asked to email: colleaguecare@AssociatedBank.com or call: (800) 878-3282.
Job Summary
Provides technical support to Retirement Plan Services Administration. Responsible for accurately reconciling and processing contributions, loan payments, and setting up all new plan enrollees. Responsible for coordinating all incoming client contribution emails, files, checks and ACH/account charging requests to ensure timely processing.
Compliance Statement
Operates in full compliance with internal policies and procedures as well as applicable regulations and laws, including but not limited to Bank Secrecy Act/Anti-Money Laundering requirements. Responsible to report any procedure or process that doesn’t meet regulatory requirements including fraud, whether suspected or confirmed, to management. This reporting can be done directly to any member of management, including Human Resources or Corporate Security, or can be reported through Associated’s anonymous Ethics Hotline.
Key Result Areas
Reconciling
Research
Other Team Coordination of Work flow
Customer Service
Accuracy
Recordkeeping
Team Support
Other Tracking
Job Accountabilities
Processes contributions according to the specific instructions for each plan by utilizing files in multiple formats, manipulating the data, and loading it into the record keeping system. Reconciles file information to the payment method of check, ACH, or account charge to ensure accurate processing of the contribution. Defaults participants not set up in the plan and requests appropriate information needed from administration in order to ensure that the participant set up is complete.
Reconciles and processes loan payments and loan payoffs in accordance with the specific loan policy for each plan. Ensures that the proper payments are being made and coordinates the return of all loan over payments. Notifies Administration of any over payments so that the client can be notified and make appropriate adjustments to their next payroll file.
Collaborates and follows up with administration and the client to resolve data discrepancies, obtain missing data, and answers contribution and loan payment related questions through verbal and written communication to complete accurate processing.
Manages team work flow by coordinating emails and files that are received within the shared team mailbox, ensuring that all contribution and loan payment files are processed at the appropriate time based on the payment method and date received. These payment methods include immediate or future charges to an Associated Bank checking account, ACH payments from another financial institution, or mailed checks.
Submits ACH and Associated Bank account charge requests in order to accurately fund pending contribution or loan payment.
Reconciles deposits to the Trust for each payment type and completes a deposit into the trust checking account. Submits transactions to Trust Operations to coordinate the accurate posting of all deposits.
Provides backup for inputing or loading all new enrollee information as indicated on participant enrollment forms or file. This includes inputting participant investment elections into the appropriate investments to ensure accurate fund trading as employee and employer contributions are applied to the participant accounts. Assigns participant PIN numbers and mails PIN letters to allow for participant access to their accounts via the customer website and voice response unit.
Provides superior customer service to our internal and external customers. This includes, but is not limited to, the Administrative staff and the Trust Operations staff.
Inputs and retrieves data utilizing knowledge of various computer software packages.
Establishes and maintains necessary records for proper retirement plan allocation preparation, compliance testing and government reporting.
Qualifications
Education
Associate's Degree business, accounting or equivalent combination of education and experience , Required
Associate's Degree , Preferred
Experience
1-3 years Accounting/Reconciliation, Required.
3-5 years Retirement planning experience, Preferred.
Skills
Verbal Communication , Advanced
Written Communication , Advanced
Mathematical , Intermediate
Other: Attention to detail, Advanced
Operate Office Equipment , Intermediate
Microsoft Office , Advanced
General Physical Condition
No unusual physical effort, strain, or discomfort