NQ Reconciliation Specialist, Newport
About The Position
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. As a provider and partner, Newport is independent, experienced, and responsive. Job Summary: 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. Processes participant payments out of the plan trust.
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.
Nice To Haves
- Bachelor's degree (B. A.) from four-year college or university.
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.
- Ensures final work products are of high quality, provided in a timely fashion and adhere to internal guidelines, plan descriptions, and sample calculations.
- Focuses on learning in everyday activities and events
- Collaborates with and openly shares knowledge with colleagues
- Regular, reliable, and punctual attendance
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
Associate degree
