Disbursement Services Associate II

Icma Rc
Washington, DC
Oct 13, 2017
Oct 23, 2017
Accountant, IT
Full Time
Requisition Number CS Post Date Title Disbursement Services Associate II City Washington State DC Description Reach Your Peak with ICMA RC a FINANCIAL SERVICES LEADER in public sector employee retirement products and services Headquartered in Washington DC our Financial Services corporation manages over billion in retirement plan assets for more than one million participant accounts We are constantly looking for ways to create new opportunities to serve our participants We have an extraordinary talent base and invite you to consider joining ICMA RC s Client Services team This position is responsible for daily analysis research and processing of Section a and k retirement plan benefit payments in service withdrawals and loans The role facilitates disbursement requests works with participants plan sponsors and other financial institutions to clarify instructions resolve issues and ensure compliance with regulations and plan specific rules for a variety of request types including monthly installment benefit payments lump sum payments emergency hardship withdrawals beneficiary withdrawals Roth in plan conversions purchase of prior service credit in a defined benefit plan rollovers and loans Essential funtions Interpret disbursement request information with respect to participantsa eligibility for disbursement requested withdrawal type amount and timing investment depletion order and remittance instructions and tax withholding instructions Evaluate requests to ensure that all plan and regulatory requirements are met Communicate with participants and plan sponsors as needed to confirm instructions or obtain additional documentation to complete disbursement requests Set up transactions to redeem assets from participantsa retirement accounts using proprietary system and OmniAdminWeb core record keeping system Perform quality review of peer transactions to ensure accuracy and timely processing to meet service standards and regulatory requirements Manage processing and client follow up for plans with special rules and requirements Perform preliminary assessment and documentation of service issues and initiate appropriate corrective action Assist with daily unit settlement procedures transaction edit review and reconciliation Participate in remote site testing of business continuity plan for disbursement services Complete continuing education on new regulatory and legislative changes relative to benefit withdrawals in the Defined Contribution arena Requirements If you have the following credentials we encourage you to apply BA BS degree or equivalent work related experience years of accounting financial services or similar environment retirement plan record keeping in disbursement area preferred Organizational skills and attention to detail Strong problem solving and analytical skills Proficient knowledge of rules and regulations for and plan processing Omni Plus and or Omni Station and Omni Pay experience Effective written and oral communication skills MS Access experience For your well being we offer a solid compensation and benefits package that features a competitive salary a straight forward incentive plan that rewards results and ak Plan For your career we offer tuition reimbursement professional development courses seminars career enrichment assignments mentoring programs and a record of enterprise growth that creates continuing opportunities for career advancement Consider ICMA RC and respond in strictest confidence ICMA RC is an Equal Opportunity Employer that values diversity in the workplace Minorities and women are encouraged to apply We look forward to hearing from you

Similar jobs