New Accounts Associate

Finance Edison, New Jersey


Description

COMPANY DESCRIPTION:
Foresters Financial is a financial services firm with administrative and operations offices located in Edison, NJ and on Wall Street as well as regional sales offices located nationwide.

 

POSITION SUMMARY:

Establish new retirement and non-retirement accounts.  Complete clerical transactions on existing accounts and process contributions for all retirement products.

 

ESSENTIAL DUTIES AND RESPONSIBILITIES:

  • Establish and review incoming Product and Customer Applications for completeness according to internal policies and procedures (e.g., proper signatures, manager and representative sign-off, suitability information, etc.). Apply internal resolution techniques, where applicable.
  • Ensure compliance with applicable policies, including client identification, asset transfer policies and asset portability rules.
  • Complete internal transfers of ownership due to death or divorce.
  • Prepare and forward all necessary applications and transaction requests to appropriate internal department/area (i.e., Control, Adjustments, Correspondence, Redemptions and Exchanges, etc.).
  • Review, log and process transaction requests the same day received.
  • Responsible for constant, accurate maintenance of all files handled.
  • Research all incomplete transactions received and follow-up through completion.
  • Initiate contact and work directly with appropriate parties to resolve paperwork and file discrepancies (i.e., irregular ownership changes, registration inconsistencies, source of assets, legal issues, etc.).
  • Correspond with members of the sales force via email and telephone.
  • Compose template correspondence to outside companies and/or shareholders in order to procure assets and process all requests in a timely manner.
  • Allocate and invest assets received via physical check and wire transfer according to the client/rep’s instructions.
  • Apply contributions to all retirement products through the Billing system and ensure the totals reconcile with the remittance schedule.
  • Apply loan repayments through the Loan Application System.
  • Complete end-of-day balancing of the Loan and Billing Systems by calculating the amount of money received by the amount of money applied.
  • Review and reconcile reports by updating Mainframe, Billing and the Loan systems.
  • Process shareorder and fund/serv transactions by reviewing Mainframe when a transaction is generated by Broker.
  • Process non-monetary transactions such as broker-dealer updates, name changes, address changes, returned mail, networking, beneficiary information and changes to investment allocations.
  • Perform same-day quality review of co-workers’ processed items.
  • Participate in delivery and proper placement of processed and reviewed files, applications and other pertinent documentation to be scanned.
  • Prepare files to be sent to the Warehouse.

EDUCATIONAL REQUIREMENTS:

  • High school diploma
  • Some college preferred or equivalent work experience

 

EXPERIENCE AND BACKGROUND REQUIREMENTS:

  • Proficient in Microsoft Word, Excel and Outlook with accurate typing skills
  • Prior office experience preferred
  • Strong written and verbal communication skills, as well as excellent organizational and follow-up abilities
  • Excellent organizational and follow-up abilities with attention to detail and accuracy; strong proofreading skills
  • Strong math skills; understanding of math concepts and ability to execute them using a calculator
  • Strong research skills, including use of printed and web based resources
  • Self-starter, goal oriented, motivated, focused and strong desire to learn and grow in the Company;
  • Ability and willingness to work overtime, as needed
  • Ability to be flexible with work schedule, as shift changes may be required (i.e., 9:00 – 5:00; 9:30 – 5:30; 10:00 – 6:00)

 

WORK ENVIRONMENT:

  • Office

 

Foresters Financial is an Equal Opportunity Employer.