Financial Services Assoc. Purchasing Processor

PlanMember Financial Corporation; Carpinteria (CA); On-site; USD 55,000 - 65,000; Full time

Benefits offered by this job

PTO

Health insurance

401(k)

Profit-sharing retirement program

Job summary

PlanMember Financial Corporation is seeking a Purchase Processor to support our on-site operations in Carpinteria, CA. You will join a team handling purchasing activities, transfers, and daily financial processing with emphasis on accuracy, compliance, and customer service.

The role is full-time, non-exempt, and requires ability to work in a collaborative environment. Starting salary ranges from $55,000 to $65,000 annually, plus benefits including PTO and retirement plans.

Qualifications

• High School Diploma required.
• Bachelor's degree in finance, accounting, business administration, or related field preferred.
• Two plus years in a financial services or operations role.

Responsibilities

• Review transfer and rollover forms for completeness.
• Review transfer requests to ensure compliance with plan portability and regulatory rules.
• Prepare Letter of Acceptance and send to contra firms.
• Track the status of incoming transfers and ensure system follow-up notes are clear and accurate.
• Follow up on miscellaneous requests from contra firms requesting additional information.
• Work closely with the call center to ensure rep’s understanding of transfer requirements.
• TPA (Third Party Administrators), Follow-up calls.
• Maintain Company Information list as new and updated information arises.
• Track, enter and manage Cost Basis information for in-kind transfers.
• Process daily investments into client accounts.
• Request employer ACH debits and wires.
• Process ACHs and wires.
• Log and audit daily holds and returns.
• Responsible for reviewing, responding, and completing research requests and service requests.
• Adhere to all timing standards, policies and procedures.
• Work on special projects as assigned by the Manager.

Skills

Detail oriented

Communication

Time management

Discretion

Team collaboration

Problem solving

Compliance

Education

High School Diploma

Bachelor's degree in finance, accounting, business administration

Tools

Microsoft Excel

Microsoft Word

Outlook

Job description

Department

Operations

Classification

Non-Exempt

Location

Position Type

Full Time

Description

The Purchase Processor plays a crucial role in the financial services industry, working within a team to ensure the smooth and efficient functioning of various financial operations. The ideal candidate should possess a strong attention to detail, a commitment to accuracy, and the ability to work effectively within a team.

As a Purchase Team Processor, you will be responsible for performing various financial and administrative tasks to support the operations of a financial institution or department. You will work closely with team members, clients, and other stakeholders to ensure accuracy, compliance, and efficiency in operational processes.

This position is considered an essential role day 1, meaning employees in this role must be able to perform their responsibilities without a lapse of time should a business continuity situation arise e.g., COVID-19 Pandemic.

Location Information: On-Site at our Carpinteria, CA Headquarters

Salary Range: Starting salary is typically between $55,000 and $65,000 annually, however, it is ultimately determined by the scope of the position the candidate’s relevant experience, credentials/certifications and internal equity. In addition to salary, benefits include, PTO, health, medical, vision, disability, life insurance benefits as well as 401(k), profit‑sharing retirement program and much more.

Responsibilities

Purchasing Department Specific Responsibilities

• Review transfer and rollover forms for completeness
• Review transfer requests to ensure compliance with plan portability and regulatory rules
• Prepare Letter of Acceptance and send to contra firms
• Track the status of incoming transfers and ensure system follow‑up notes are clear and accurate
• Follow up on the miscellaneous requests from contra firms requesting additional information
• Work closely with the call center to ensure rep’s understanding of transfer requirements
• TPA (Third Party Administrators), Follow‑up calls
• Maintain Company Information list as new and updated information arises.
• Track, enter and manage Cost Basis information for in‑kind transfers
• Process daily investments into client accounts
• Request employer ACH debits and wires
• Process ACHs and wires
• Log and audit daily holds and returns
• Responsible for reviewing, responding, and completing research requests and service requests
• Adhere to all timing standards, policies and procedures
• Work on special projects as assigned by the Manager.

Physical Requirements: This role typically requires sitting at a desk and working on a computer for extended periods.
Minor lifting and carrying of items may be required.

Service Principles – BeEPIIC Framework:
Belonging – Foster a unified front, bridging diverse talents and perspectives towards our shared goals. Our unity reflects our commitment to collaborate, respect, and support each other in pursuit of collective success.
Empowerment – fostering a supportive environment where employees are encouraged to take ownership, make decisions, and drive positive change for the company and its customers.
Pride – Cherish our work, team, and organization. Our pursuit of excellence and respect for our mission, colleagues, customers, and community fuels our collective success and sense of pride.
Integrity – Trust, Credibility, Dependability. Our members and partners trusted us with their financial wellbeing, something we’ll continually earn through integrity in everything we do.
Innovation – Embracing change and seeking out creative forward‑thinking approaches to better serve our customers and stay ahead of the competition.
Customer Centricity – Putting the customer at the heart of each decision and striving to exceed their expectations at every touchpoint.

Qualifications

Critical Competencies: (Quality Focus, Compliance)

• Perform all work with excellence and adhere to high standards for quality and integrity.
  • Learn from past errors and pay close attention to work to avoid repeating mistakes.
  • Pay attention to small details that others may overlook and maintain a focus on precision.
  • Ensure all work and behavior aligns with relevant rules, regulations, policies, best practices and meets the company’s standards of conduct.
  • Strive to follow best practices for high quality work.
  • Stay informed about current regulations and potential future developments by closely monitoring information sources.
  • Demonstrate a strong sense of discipline and responsibility for recordkeeping and meticulous compliance documentation.
  • Maintain a positive and professional attitude.
• Communicate concisely, directly, and unambiguously in written and oral formats, considering the receiver’s perspective to ensure clear understanding of the message’s specifics and purpose.
• Display a natural curiosity and desire to know more about people, processes and systems.
• Prioritize completing work tasks in a timely manner while remaining responsive to competing demands and shifting priorities.
• Show genuine interest in actively listening and understanding the content and meaning of others’ messages.
• Possess intermediate user knowledge of Microsoft 365 Suite focusing on Excel, Word and Outlook.
• Ability to work overtime with less than 24-hour notice.

Education

• High School Diploma required.
• Bachelor’s degree in finance, Accounting, Business Administration, or related field is desired
• Two plus years in a financial services or operations role

Licenses and/or Certifications Desired but not Required