Salary for this role is $100K with bonus potential

Position can be hybrid
Position SummaryThis position manages our client banking and reconciliation department which manages tens of millions of dollars in daily transactions. They will own client related banking transactions, operations, and controls supporting these processes, and will be responsible for developing and recommending policies and procedures that ensure the continued achievement of department goals, deliverables, and performance expectations in a growing environment. This position will also be responsible for growing and developing the staff to ensure optimal employee contribution and retention.
Essential Functions

• Serve as point for all custodial accounting service operations and manage the custodial accounting service que. This includes but is not limited to: Reviewing and assigning cases to staff, answering cases to support staff during busy seasons, resolving escalated cases, etc.,)
• Help manage and review bank, client, and plan account reconciliations. This role will be expected to complete client and plan reconciliations during busy seasons as needed to support junior staff.
• Help monitor and ensure clients are funding their benefit plans in a timely manner and keep overall custodial receivables to an acceptable minimum. This will include helping us build out our internal system custodial AR module
  • Lead and Support Collections staff. This includes contacting clients as needed, leading meetings with escalated clients, and working with third party collections agencies on non-paying clients.
• Monitor, review, and update, as needed, accounting controls and reconciliation processes across custodial and operating accounting. Ensure formal Process and Internal Control documents are always up to date.
• Help manage the client banking relationship and overall custodial banking processes
  • Ensure banking information is added/updated timely based on client requests (e.g., routing and banking updates in ACH templates utilized in bank system)
  • Review and approve daily online transactions and approvals; Role will be expected to initiate transactions as needed too.
  • Extract and analyze banking reports to resolve escalated banking transactions as needed
  • Expert understanding of online banking systems
• Project management for custodial accounting and cross-department projects
• Manage and lead small group of junior staff, including off-shore support staff. This includes ensuring staff are productive and that proper task and process documentation is maintained
• Support and supply custodial accounting data to operating accounting and other company department staff to satisfy auditor, and other attestation engagement requests
• “Industry Expert”; Stay informed about regulations and compliance standards that impact the third party benefit administrator industry to ensure that our custodial accounting procedures adhere to legal and regulatory requirements
• Participate in the onboarding of new clients, providing guidance on custodial account options and requirements
• Generate reports and analytics related to custodial accounts, providing insights to support business decision-making
  

Requirements

• Bachelor’s Degree in business or accounting
• Familiarity with banking and general financial accounting controls and processes
• Strong customer support perspective with professional interpersonal skills
• Strong accounting and reconciliation skills
• Strong troubleshooting skills and ability to work with large, complex transaction data sets
• Strong skill in Microsoft Excel (e.g., formulas, short-cut keys, etc.).
• High attention to detail
• Ability to solve problems and develop best practices for new processes
• Management experience
• Enjoys developing and mentoring team members/direct reports.