Chennai, TN IN
Bachelor's Degree (±16 years)
Specialist - Money & Asset Movement
Business Unit Overview
Money Out processing is subject to SOX, SAS 70 and TA guidelines and can be broadly categorized under two interrelated functions – Withdrawals and SMPG. These functions are a combination of both Transaction level and analytical skill based processing. Each function is unique and is governed by plan-specific rules and IRS regulations. Working on multiple complex record keeping systems while adhering to set procedures and abiding to all regulatory/legal norms. Day-to-day responsibilities will involve working within the various Fidelity business units such as client service management, implementations, financial operations, WPS so as to accurately process the withdrawal / transfer from the participants’ retirement account.
The Operations Specialist works in a fast-paced, high-exposure and high-volume organization and will be responsible for processing monetary and non-monetary data into Fidelity recordkeeping systems. The Operations Specialist works with the Client Services & Management teams in order to maintain a satisfactory level of processing for our clients. Works on multiple clients, complex systems and must adhere to the regulatory and legal norms.
Roles & Responsibilities
- Processing monetary and non-monetary transactions for assigned clients\transactions. Includes Contributions, loan repayments, Indicative data files and manual adjustments, Rollovers etc.
- Ensures all items are processed and\or resolved in a time. Supports business in ensuring positive audit results
- Complies with all client policies, procedures, and Federal/State/Local regulations and escalates issues to the Work Leader and\or Manager.
- Monitor individual work queues, partner with other teams to ensure that all aging work items are resolved within specified time frames.
- Perform research on all processing irregularities and drive issues to resolution
- Monitor and control money movement in and out of Fidelity. Includes wire transfer, ACH, check receipts, stock transactions (buy\sell) as applicable.
- Reconcile and audit processing to money movement. Perform reconciliation by utilizing disc-recon, control reports and interface with FinOps (Financial Operations).
- Interact with the internal and external clients to streamline processing and ease plan administration for our clients.
- Updates plan specific procedures periodically. Train back up associates. Recommends continuous improvements in work flow efficiency.
List of skills required
- Flexible & Open to work in Shifts (Preferably in US hours)
- Bachelor’s degree or equivalent qualification.
- Sound working knowledge on Excel
- Ability to adapt to a rapidly changing environment and manage crisis.
- Takes initiatives and demonstrates creativity and innovation.
- Strong listening, questioning and positioning skills. Ability to train and influence internal and external clients.
- Excellent verbal and written communication skills along with strong attention to detail.
- Ability to identify, analyze and control risk
- Ability to effectively gather the necessary data\information in a timely manner.
- Experience in financial services or high volume transaction processing experience preferred.
- Strong inter personal skills
- Strong analytical skills and orientation to details
- Excellent Communication Skills
Education and Experience
- Bachelor’s Degree in Commerce
- Financial Services background is an added advantage
- 2 Years of Exp.