Retirement Distribution Processor

WHO ARE WE: Alerus is a commercial wealth bank and national retirement provider with one core purpose: helping clients achieve their financial goals. We are driven by a shared commitment to always do the right thing; leading with integrity and providing valued advice and guidance to our clients. We value the expertise and skillsets each team member provides and encourage collaboration, innovation, adaptability, and an entrepreneurial spirit at all levels of our company. By consistently seeking improvements and growth, we foster long-term relationships with clients and team members. We are proud to be recognized as a Top Workplace by numerous industry and regional outlets.


CORE VALUES: Passion for Excellence :: Success is Never Final :: Do the Right Thing :: One Alerus


ABOUT THE ROLE:


The Retirement Distribution Processor is accurate and timely processing of employee benefit plan transactions, distributions, and loans according to documents and internal procedures under limited supervision. This person will process plan mergers, plan to plan transfers, loan refinances and answer client and Alerus Retirement and Benefits (ARB) staff questions. Will exhibit a strong attention to detail, will be responsible for understanding all aspects of the distribution/loan area, and be able to work in a fast-paced environment quickly and accurately.


WHAT YOU'LL BE DOING:

• Process all types of distributions and loans, including lump sums, in-service withdrawals, QDROs, testing refunds, hardships, stock, installments, and Roth.
• Ensure daily processing of distributions and loan withdrawals meets quality and service standards.
• Monitor client-specific notes in the recordkeeping system affecting withdrawals and loans.
• Research and respond to distribution/loan issues according to plan procedures and standards.
• Update the ARB tracking system with the status of distribution and loan requests.
• Enter 1099R data for requested withdrawals.
• Process plan-to-plan transfer requests and loan refinancing requests.
• Calculate and verify vesting and forfeitures.
• Maintain documentation of functions, checklists, and procedures in the R&R database.
• Assist team members and handle special projects as needed.

WHAT YOU SHOULD HAVE:

• Associate's degree or equivalent combination of education and/or experience.
• Previous experience in financial/retirement operations preferred.
• Proven record of working in a fast-paced environment while managing multiple tasks & deadlines.
• Proficient PC skills including Microsoft Word and Excel.
• Ability to collaborate with employees and clients.
• Ability to work accurately with numbers, performing data entry and basic math calculations.
• Effective written and oral communication skills.
• Ability to effectively prioritize, manage, and complete multiple assignments and daily workload to meet deadlines.
• Excellent problem-solving skills and high attention to detail with exceptional organizational skills.
• Available to work flexible hours to cover peak workloads and to meet daily workload schedules.

WHAT WE BRING TO THE TABLE:

• Competitive compensation including base salary, bonus and/or incentive opportunities.
• Comprehensive benefits package providing a wide range of health and well-being benefits, including medical, dental, vision, life and long-term disability insurance; and 401(k) and ESOP for retirement savings.
• Generous paid time off programs such as flexible time off, company-paid holidays, parental and bereavement leave.
• Learning and development resources for personal and professional career development, and advancement opportunities.
• Access to financial experts for guidance, financial wellness tools, and discounts on Alerus products and services.
• Support for the communities we live in through paid volunteer time and a company donation match opportunity.

WORK ENVIRONMENT: Work is typically performed in an office setting. The employee is regularly required to sit for extended periods of time. The employee is occasionally required to move about the office utilizing proper ergonomic safeguards when doing so. Additionally, the employee must occasionally lift or move supplies and materials up to 20 pounds.


BASE PAY RANGE:


$18.00 - $20.00 per hour


The above information in this description has been designed to indicate the general nature and level of work performed by employees in this position. It is not designed to contain or be interpreted as an exhaustive list of all responsibilities, duties, and qualifications required of employees assigned to this job.


Alerus is an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
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