Distributions Specialist (Remote)

Take the next step in your journey. At Millennium Trust Company, you will help businesses and individuals thrive today, tomorrow, and into retirement. Become part of a company that is people centric and client obsessed in every interaction; a community of forward-thinking individuals focused on driving results to deliver our mission with an unwavering commitment to integrity. Join us as we strengthen and simplify the health and wealth journey - relentlessly pursuing better outcomes for all. We believe in finding the best talent! While some roles are based at one of our office locations, remote roles can sit in any of the following states: AL, AZ, FL, GA, IA, IL, IN, MI, MN, MO, NC, NE, PA, SC, TN, TX, UT, VA and WV. Remote status and role locations are subject to change. Relocation is not provided.
Don't meet every single requirement? Here at Millennium Trust, we believe there is no "perfect" candidate and want to encourage applying even if all the requirements listed aren't met. Our goal is to build an authentic workplace by valuing diversity in our candidates. We work to ensure that our team reflects the diversity of the businesses and clients we serve. We are always looking to expand our growing team with dynamic and enthusiastic individuals. If you enjoy a collaborative, fun environment that champions career development, Millennium Trust is the place for you! We look forward to receiving your application! Check out a video on our Company Culture! Millennium Trust Culture
HOW YOU WILL SOAR:
The Distributions Specialist will report to the Distributions Manager in the R&C Operations Department. This role is responsible for analysis and processing CS client initiated outgoing distribution, transfer and rollover requests for IRA, Qualified Plan, and taxable accounts. The position requires communicating effectively with clients, authorized third parties and other entities to resolve discrepancies or follow-up on requests. There are numerous other ancillary responsibilities that may be assigned to the CS Distribution Account Administrator including: to work directly with internal clients to resolve discrepancies on requests, work directly with internal departments to facilitate tasks related to client distribution requests, data entry of distribution transactions and/or approval of those transactions in the Trust Accounting System, data entry of liquidation and re-registration direction into client file to facilitate the appropriate action as directed by the client, manage internal requests/escalations via the CRM and/or email, process the upload and follow-up on emails and faxes received by the department, manage the return of original documentation/certificates to clients, manage and follow up with clients on returned items including returned wires, ACHs and checks, process account closings and other responsibilities as assigned. The individual must be analytical, team oriented and able to multi-task efficiently in a fast-paced work environment.

• Review client initiated distribution, transfer, or rollover requests to ensure the documentation meets established criteria and requirements for different products lines and account types
• Ensure transactional fees assessed are accurate based on the account type/relationship
• Properly access the request to ensure the appropriate tax code and other pertinent information is entered appropriately on the transaction as this will have implications on the client's tax reporting
• Enter disbursements (checks, wires or ACHs) timely and accurately into the Trust Accounting System
• Process appropriate and prompt follow-up for requests that do not meet our requirements and cannot be processed
• Follow-up methods may include: the preparation and mailing of rejection letters ensuring the letter accurately describes the reason for paperwork rejection, direct follow-up with client and/or authorized third party by phone and/or email
• Document client communication in the client file and letters and/or emails must be scanned to MTC's document archival in a timely and accurate manner
• Communicate effectively, both verbally and in writing, with clients, advisors, third parties and/or MTC associates to complete clients' requests in a timely manner
• Assist in the processing of IRA account conversion and/or re-characterization requests
• Assist in the processing of Institutional and/or Advisor directed requests
• Calculate and process client Required Minimum Distributions
• Ensure that disbursement requests and other client requests are processed within the established service levels and with the utmost accuracy
• Review escalated requests or requests for exception processing and work with our clients, Team Lead and Manager directly as required to resolve issues
• Maintain a positive work atmosphere within the team and with other internal departments
• Assist in the review/update of department policies and procedures
• Consult with manager on effective ways to meet client needs or appropriate method to be used for error resolution
• Keep the Manager of CS Distribution Operations apprised of escalated client issues, processing errors or performance issues
• Other duties as assigned

IF YOU HAVE SOME OR ALL OF THE FOLLOWING, APPLY:

• Bachelor's Degree in Business, Finance, or related field
• 1 - 3 years of applicable experience
• Be a team player and possess a positive attitude
• Be detail-oriented, organized, and dependable
• Have the ability to work independently to accomplish assigned tasks on a daily basis
• Possess excellent written and verbal communication skills
• Proven ability to organize, plan and prioritize work effectively to meet deadlines
• Must be able to work in a fast-paced environment
• Strong computer aptitude with proficiency in Microsoft Outlook, Word, and Excel
• Working knowledge of trust accounting systems preferred
• Previous experience with IRA's, Solo 401(k) plans and other various Qualified Retirement Plans preferred
• Knowledge of IRS rules and regulations in relation to both IRAs and Qualified Retirement Plans preferred
• Strong working knowledge of tax reporting related to disbursement transaction processing per the IRS guidelines preferred
• Working knowledge of trust accounting systems preferred
• Experience with SharePoint applications and/or Salesforce CRM preferred
• Comprehensive understanding of IRA rules and regulations related to distribution transaction processing preferred

MILLENNIUM TRUST COMPANY is a rapidly growing, leading financial services company offering specialized retirement and institutional services and recently acquired PayFlex, a consumer directed benefits provider, to create a personalized, holistic approach to financial wellness. To that end, we provide a diversified multi-product business with a holistic focus on financial wellness. Millennium Trust has experienced year-to-year double digit growth and prides itself on its strong, progressive culture.
We have been recognized for our remarkable growth on lists such as Crain's Fast 50 and Inc. 5000, and for our outstanding workplace culture and benefits with Built In's 2023 Best Places to Work and Gallagher's 2022 Best-In-Class Employer awards.