Defined Contribution Disbursement and Loan Processing Associate
About the position
As a Defined Contribution Disbursement and Loan Processing Associate, you will be responsible for accurate and timely completion of loan and/or disbursement transactions from defined contribution retirement plans. Candidates should be knowledgeable of how disbursement and/or loan transactions are completed and have an understanding of why they are processed. Primary responsibilities will be centered around distribution and/or loan processing and report monitoring. Transactions processed include:
- Loan Initiation
- Loan Maintenance
- Rollovers
- Single Sum
- Payments to alternate payees due to QDROs
- Death Cases - including beneficiary transfers and beneficiary payments
- Systematic Distributions
- Excess Contributions
- No-Check Transactions
- Distribution Maintenance Transactions
- Minimum Required Distributions
The specific responsibilities include:
- Apply IRS, DOL, SEC and other government rules and regulations appropriately and consistently to transaction processing.
- Clears all team queues daily. Associates must clear their workflow queues and assist in other queues to ensure team goals are met.
- Ability to consistently meet individual quality and production standards.
- Establish and maintain a good working relationship with Relationship Managers and all internal business partners.
- Return voice mails and e-mails in a timely manner.
- Ensure communication is constructive and professional.
Qualifications
- Bachelor’s degree or 2 years of transaction processing experience in a fast paced environment where attention to detail is critical
- Must have strong organizational, follow-through and communication skills
- Computer proficient with intermediate skills in Microsoft Office 365 (must be able to create Excel spreadsheets using some advanced functions)
- Strong interpersonal skills and the ability to successfully collaborate with other areas
- Strong analytical and problem solving skills
- Strong written and verbal communication skills
- Understanding of Defined Contributions plan structure, rules and regulations is a plus
Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.
We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.