Retirement Plan Operations & Service Specialist (Irvington, NY)

PlanMember Financial Corporation•Irvington, NY

5d•$75,000 - $90,000•Onsite

About The Position

Scarborough Alliance, a part of PlanMember Retirement Services, provides investment advisory, retirement planning and administrative services for local unions and their members throughout the country. We have been in business since 1970 and currently service participants in 48 states from Maine to Hawaii. This is a financial services position with a wide variety of responsibilities including client services, retirement plan operations, administrative duties, and licensed sales support.

Requirements

7 + years of financial services experience
Bachelor’s degree required
FINRA LICENSE - 7
FINRA LICENSE - 65
FINRA LICENSE - 63
Or
FINRA LICENSE - 66

Nice To Haves

Experience with unions preferred but not required
Life insurance license is preferred

Responsibilities

Perform operational responsibilities such as address changes, beneficiary changes, distribution processing, loan operations, check deposits, contribution processing, and new account set-up
Handle incoming rollovers including communications with Regional Managers, ensuring that funds are invested properly and following up on IRA rollover statuses
Service investment advisory accounts including new account set-up, Required Minimum Distributions, trading, distributions, contributions and researching tax loss harvesting opportunities
Handle death claim process including explaining the options to beneficiaries and encouraging their continuation in the plan, handling of form and document processing
Execute trade orders across various retirement plans and brokerage platforms as requested by clients
Confirm accuracy of transactions submitted to recordkeeper
Communicate and coordinate with recordkeepers to ensure timely processing, including troubleshooting client concerns and issues
Draft template letters and other correspondence to participants
Maintain electronic client files
Provide service to clients on topics such as one-time withdrawals, systematic installment payments, applicable IRS rules, plan loans, beneficiary designation, trusted contacts, death claims, mutual fund information, market fluctuations, Required Minimum Distributions, form requests, participant web access assistance, plan features, etc.
Accept trade orders as requested by clients
Assist new and existing clients and their families by investing additional money in existing accounts or opening new accounts in other Scarborough products
Participate in client retention efforts such as speaking with people who have been approached by other advisors
Document conversations and activities in CRM software
Provide support to the Regional Managers in their new sales efforts and ongoing servicing to established clients
Schedule account reviews and prepare client account review materials
Prepare retirement analysis reports using planning software and serve as quality assurance when reports are generated by other representatives
New account and subsequent investment paperwork
Conference calls with members and 401(k) / pension providers to initiate benefits
Resolve "Not in Good Order", (NIGO) paperwork
Follow up on rollovers in/out
Monitor internal email boxes and reply to Regional Manager requests