Process Specialist – Money In/Money Out

Job Description:

Job Title – Process Specialist – Money In/ Money out

The Purpose of This Role

The Process 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.

The Value You Deliver

• Processing monetary and non-monetary transactions for assigned clients/transactions. Includes withdrawals, loan, transfers, rollovers, Indicative data files and etc.

• Ensuring 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.

• Monitoring individual work queues, partnering with other teams to ensure that all aging work items are resolved within specified time frames.

• Performing research on all processing irregularities and driving issues to resolution

• Monitoring and controlling money movement in and out of Fidelity. Including wire transfer, ACH, check receipts, stock transactions (buy\sell) as applicable.

• Reconciling and audit processing of money movements. Performing reconciliation by utilizing disc-recon, control reports and interface with FinOps (Financial Operations).

• Interacting with the internal and external clients to streamline process and ease plan administration for our clients.

• Updating of plan specific procedures periodically. Training back up associates and Recommending continuous improvements in work flow efficiency.

The Skills that are Key to this role Technical / Behavioral

• Bachelor’s degree or equivalent qualification.

• Flexible & Open to work in Shifts (Preferably in US hours)

• You need to have a strong interpersonal skills

• You need to have strong analytical skills and orientation to details

• Ability to adapt to a rapidly changing environment and manage crisis. • Ability to identify, analyze and control risk

• Sound working knowledge on Excel

• Ability to adapt to a rapidly changing environment and manage crisis.

• You should have an excellent verbal and written communication skill along with strong attention to detail.

• Experience in financial services or high volume transaction processing experience preferred.

The Skills that are Good To Have for this role

• Experience is transaction processing role is preferable.

• Experience in US retirement industry particularly in the Defined Contributions domain is an added advantage

• Ability to effectively gather the necessary data/information in a timely manner. How Your Work Impacts the Organization Money In/ Monye Out process is subject to SOX, SAS 70 and TA guidelines and can be broadly categorized under the below interrelated functions – Contributions and Checks, Withdrawals and special monetary processing group (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 Expertise We’re Looking For

• 1 to 4 years of Financial Services experience
• Any graduation except BCA, BE and Computer Studies.
• Financial Services background is an added advantage

Location: Bangalore EGL / Chennai
Shift timings: 5:30 pm to 2:30am or 7:30 pm to 4:30 am

Certifications: