Account Operations Specialist (Remote) (Finance)

The Account Operations Specialist will report to the Account Operations Manager in the R&C Operations Department This role is responsible for opening new accounts, verifying, and processing maintenance to existing accounts, supporting external and internal clients, and resolving related account issues. This position requires a thorough knowledge of all types of account ownerships and classifications while adhering to applicable IRS rules and regulations.

Through verbal and written communication, the incumbent will develop, strengthen, and maintain a positive relationship with other internal Operational teams, Sales and external clients such as plan sponsors, record-keepers and third-party administrators.

• Review and process new account opening documentation and account maintenance requests for new and existing accounts in an accurate and timely manner
• Review and evaluate request forms and other paperwork for completeness
• Perform processes to ensure client accounts comply with the Customer Identification Program (CIP)
• Respond to internal and external email and phone inquiries and manage inquiries received through the CRM system
• Record important notes and supporting documentation within the client account portal
• Communicate issues that arise to internal teams and external clients, and follow-up for timely resolution
• Prepare and mail client correspondence
• Ensure that all processing consistently meets established service levels and adheres to policies and procedures
• Assist in reviewing and creating department policies and procedures
• Serve as a liaison with Retirement Services Sales in the resolution of operational issues and inquiries related to service agreements, incoming files, funds and related data points needed to accurately service a variety of retirement products
• Record and safeguard Service Agreement data within CRM systems
• Manage incoming files and review, detect and resolve issues to effectively process within the established service levels
• Ensure incoming checks, wires and ACHs are reviewed, addressed appropriately and processed within the established service levels
• Follow up on outstanding issues relating to service agreements, accounts, funds and other pending items
• Audit account details, fees and Welcome Kit communications for accuracy, ensuring data integrity and quality
• Respond professionally to incoming and outgoing communications, including emails, phone calls and faxes
• Generate and review daily reconciling report
• Effectively communicate and utilize sound judgment to escalate issues that may require intervention of the Manager
• Assist in the development and revision of policies and procedures with emphasis on internal controls
• Aid in the training of staff members; aligned with Inspira's internal policies and procedures
• Review client-initiated distribution, transfer, or rollover requests to ensure the documentation meets established criteria and requirements for different products lines and account types
• Ensure transactional fees assessed are accurate based on the account relationship
• Properly access the request to ensure the appropriate tax code and other pertinent information is entered appropriately on the transaction as this will have implications on the client's tax reporting
• Enter disbursements (checks, wires, prepaid cards or ACHs) timely and accurately into the Trust Accounting System
• Process appropriate and prompt follow-up for requests that do not meet our requirements and cannot be processed
• Follow-up methods may include: the preparation and mailing of rejection letters ensuring the letter accurately describes the reason for paperwork rejection, direct follow-up with client and/or authorized third party by phone and/or email
• Document client communication in the client file and letters and/or emails must be scanned to Inspira's document archival in a timely and accurate manner.
• Communicate effectively, both verbally and in writing, with clients, advisors, third parties and/or Inspira associates to complete clients' requests in a timely manner
• Assist in the processing of IRA account conversion and/or re-characterization requests
• Calculate and process client Required Minimum Distributions
• Ensure that disbursement requests and other client requests are processed within the established service levels and with the utmost accuracy
• Review escalated requests or requests for exception processing and work with our clients, Team Lead, and Manager directly as required to resolve issues
• Maintain a positive work atmosphere within the team and with other internal departments
• Assist in the review/update of department policies and procedures
• Consult with manager on effective ways to meet client needs or appropriate method to be used for error resolution
• Keep the Manager of RSG Distribution Operations apprised of escalated client issues, processing errors or performance issues
• Other duties as assigned.