NQ Reconciliation Specialist

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.

Essential Functions Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.

• 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

Required Education, Experience and Certificates, Licenses, Registrations

• 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.

Preferred (but not required) education or skills for this role

• Bachelor's degree (B. A.) from four-year college or university.

Competencies

• Customer Oriented
• Detail Oriented
• Verbal and Written Communication Skills
• Independent
• Personable
• Planning And Organizing
• Resourceful
• Team Player
• Thoroughness
• Time Management
• Accuracy
• Self-Starter

TRAVEL: Up to 5 %.

OTHER DUTIES

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

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