Distributions Manager

Nova 401(k) Associates; Remote; USD 70,000 - 80,000; Full time

Job summary

A financial services firm is looking for an experienced Distribution/Loan Manager to lead its Distributions Department. In this critical role, you will ensure compliance with IRS regulations and manage various distribution requests like loans and hardship distributions. Candidates should have a Bachelor's degree and a minimum of three years of relevant management experience. This position includes benefits such as medical and dental insurance and offers flexibility to work from home.

Benefits

Medical, dental, disability, and life insurance

Paid time off

401(k) plan with employer match

Qualifications

• A minimum of three years of management experience in a fast-paced, high-volume environment.
• Relevant industry experience with 401(k) loans/distributions.
• Ability to maintain confidentiality.

Responsibilities

• Manage 2-3 staff members.
• Monitor team productivity through daily report generation.
• Communicate effectively with clients and other professionals throughout the loan and distribution process.

Skills

Leadership

Communication skills

Customer service skills

Organizational skills

Adaptability

Proficiency in MS Excel

Proficiency in MS Word

Education

Bachelor's degree

Tools

MS Excel

MS Word

Job description

Overview

We are seeking an experienced leader to head our Distributions Department, a pivotal role in our organization. As a Distribution/Loan Manager, you will be at the forefront of ensuring compliance with IRS rules and regulations regarding loans and distributions while managing the department's operations effectively. To thrive in this role, a superior working knowledge of ERISA is essential. Your expertise should span a diverse range of distribution requests, including termination, in-service, hardship, death distributions, and RMDs, as well as participant loans, QDROs, J&S requirements, beneficiary designations, and familiarity with 1099-R and 945 Forms. Additionally, you should showcase the ability to comprehend and interpret upcoming regulations influencing the retirement industry.

Responsibilities

• Manage 2-3 staff members
• Champion AFS values and policies
• Ensure client and participant satisfaction through the loan and distribution process
• Manage the team to meet AFS's overall service standards
• Monitor team productivity through daily report generation
• Develop reports for senior management
• Assist in training and mentoring of junior staff members throughout the year
• Manage daily inflow and outflow of distribution and loan requests
• Improve existing processes and assist in developing new processes as needed
• Identify loan defaults and MRD from online reports
• Prepare and process annual forceout distribution projects
• Keep current with new regulations and proposed legislation as well as an awareness of proposed legislation surrounding loans and distributions
• Communicate with participants, principals, clients, financial advisors, attorneys, CPAs, and other professionals on plans assigned to your team throughout the loan and distribution process
• Complete performance reviews in a timely manner
• Perform other related duties as required

Qualifications

• Bachelor's degree required
• A minimum of three years of management experience in a fast-paced & high-volume environment
• Relevant industry experience processing or reviewing 401(k) loans/distributions
• Comfortable working online
• Excellent written and verbal communication skills and customer service skills
• Ability to maintain confidential information
• Superior organizational skills
• Proficiency with MS Excel and MS Word
• Flexibility, adaptability, and ability to multi-task
• Clean background check
• ASPPA/NIPA industry credentials a plus

Compensation and Benefits

• Base Salary $70,000 - $80,000
• Salaried, non-exempt
• Medical, dental, disability, and life insurance
• Paid time off
• 401(k) plan with employer match

Work Location/Hours

• Work from home
• Must work from USA and be authorized to work for any US employer
• We will supply all necessary computer equipment
• You may choose a start time between 7:30 am and 8:30 am

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