Distribution Processor

Job Description

Job Description

Position Summary

The Distribution Processor will primarily be assigned to one of PenServ's specialized distribution platforms-either 403(b) Aggregator Processing or 401(k) Distribution Processing. In this role, they will demonstrate proficiency in handling a variety of distribution types with a high degree of accuracy, while consistently meeting established timelines and processing benchmarks. Attention to detail, adherence to regulatory requirements, and a commitment to service excellence are key components of success in this position. This role requires a proactive approach to client service, attention to detail, and a commitment to delivering exceptional participant experiences.

Position Responsibilities

• Retrieve distribution/loan/transfer forms ready for processing.
• Review Plan data and determine eligibility of withdrawals.
• Determine the correct means of processing various withdrawal types accurately.
• Communicate clearly with internal departments on items needed for processing.
• Keep distribution logs and CRM current with up-to-date notes.
• Compile and understand reports relating to distributions.
• Create new participant loans.
• Make determinations on hardship withdrawal requests.
• Generate Required Minimum Distribution reports.
• Maintain current knowledge of industry regulations.
• Verify and update participant address information.
• Actively participate in recommended training.
• Assist with system upgrade testing prior to production implementation.
• Adhere to all safety rules and regulations.
• Perform other related duties as assigned to support team and organizational goals.

Essential Skills & Experience

• Associate Degree in Accounting or equivalent experience.
• Proficient in Microsoft Office, Excel, and CRM system.
• Experienced in accurate and efficient data entry.
• Knowledge of retirement administration regulations.
• Professional demeanor and good communication skills with the ability to work well with others in a fast-paced environment.
• Demonstrate strong organizational skills including record keeping, time management, and follow-up.
• Strong verbal and written communication skills.
• Excellent attention to detail and sense of urgency; ability to prioritize with an emphasis on quality and accuracy of work.
• Strong interpersonal and customer service skills required.
• Ability to multi-task, prioritize, and deal with interruptions while meeting timely deadlines.

Beneficial Skills & Experience

• Previous retirement plan administration experience.
• Retirement plan administration certifications.

Physical Demands

• Continuously required to communicate effectively by talking and listening.
• Use of fingers and hands, repetitive motion.
• Manual dexterity and coordination are required over 75% of the work period while operating equipment such as computer keyboard, calculator, and standard office equipment.

WORKING CONDITIONS

• Prolonged periods of sitting at a desk and working on a computer.