Temporary Account Administrator - Institutional Retirement Services (RS) Distributions at Millennium Trust Company

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MILLENNIUM TRUST COMPANY is a rapidly-growing, leading financial services company offering specialized retirement and institutional services. Whether clients are managing corporate retirement assets, running a business or wanting choice beyond traditional asset options, we provide flexible and digital solutions to support our clients' success. Ultimately, we aim to educate and increase access to investments to help our clients on their journey to retirement readiness, but do not provide investment advice.
Millennium Trust has experienced year-to-year double digit growth and prides itself on its strong, progressive culture. We have been recognized for our tremendous growth on lists, such as Crain's Fast 50 and Inc. 5000, and have also been recognized for our positive workplace culture on the 2019 Best Places to Work in Illinois list, as well as the 2019 Model Workplace Award and 2018 Champion for Young Professionals Award from the Greater Oak Brook Chamber of Commerce. Millennium Trust employees live out the values of Do Right, Excel, Collaborate, Innovate and Celebrate and deliver the brand promise of going "Above and Beyond," so each client experiences the highest level of service.
We are always looking to expand our growing team with dynamic and enthusiastic individuals. If you enjoy a collaborative, fun environment that encourages career development, Millennium Trust is the place for you!
POSITION SUMMARY:
The RS Distribution Account Administrator has a primary responsibility to analyze and process RS client initiated outgoing distribution, transfer and rollover requests. 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 RS Distribution Account Administrator including: to process distributions as an agent for plan sponsors and TPAs, coordinate death benefit processing for beneficiaries and initiate distribution processing in accordance with court appointed allocations (e.g. divorce decrees, levies), 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, 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.
This position will report to the Supervisor of RS Distribution Operations.
ESSENTIAL JOB FUNCTIONS:
  • 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 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, prepaid cards 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. Also, client communication must be documented 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
  • 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, Supervisor, 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 supervisor on effective ways to meet client needs or appropriate method to be used for error resolution
  • Keep the Supervisor of RSG Distribution Operations apprised of escalated client issues, processing errors or performance issues
  • Other projects as assigned

EDUCATION, EXPERIENCE AND SKILLS REQUIRED:
  • Qualified candidate will have a Bachelor's degree in business, accounting, finance or related major
  • 1-3 years of experience in retirement services, financial services or related field
  • 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

OTHER REQUIREMENTS:
  • Overtime as required

Check out a video on our Company Culture! Millennium Trust Culture
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Technology we use

  • Engineering
  • Product
  • Sales & Marketing
    • .NETLanguages
    • C#Languages
    • JavaLanguages
    • JavascriptLanguages
    • PythonLanguages
    • SqlLanguages
    • jQueryLibraries
    • ReactLibraries
    • AngularJSFrameworks
    • Node.jsFrameworks
    • MongoDBDatabases
    • MySQLDatabases
    • Google AnalyticsAnalytics
    • IllustratorDesign
    • PhotoshopDesign
    • ConfluenceManagement
    • DrupalCMS
    • SalesforceCRM
    • Salesforce Marketing CloudEmail

Location

Our company is located in the heart of Oak Brook, within steps of Oakbrook Center mall.

An Insider's view of Millennium Trust Company

What are some social events your company does?

Our MTC culture is defined by our employees for our employees. The primary aspect of our culture that makes us so unique is our ability to “Celebrate”. From charity events to social gatherings, we provide employees with multiple opportunities to learn more about one another, give back to others and expand our professionals skills!

Rebecca Karnoscak

Senior Human Resources Coordinator

What does your typical day look like?

I collaborate with our internal business users to gather requirements for projects and enhancements. I develop these solutions using both no-code and code methodologies in Salesforce. It's rewarding knowing that we're making life easier for both our internal and external clients through streamlined, automated processes, and shorter turnaround time.

Alec Dorner

IT Business Developer/Analyst

How has your career grown since starting at the company?

I started out as a Sales & Marketing Coordinator at MTC in 2013. I’ve since been promoted twice, and asked to lead our MTCulture Team. I test-drove my leadership skills early on by volunteering for opportunities to lead small meetings/projects, join internal and external committees, organize events and workshops. I always welcome a challenge!

Lauren Schulz

AVP, Regional Director, Custody Services

How do you make yourself accessible to the rest of the team?

Throughout the transition to a virtual work environment, I have continued with a “virtual” open door policy. I give visibility into my workload and transparency about my availability through the use of MS teams, email and open dialogue on current and upcoming projects.

Rachel Guinan

Accounting Manager

What are Millennium Trust Company Perks + Benefits

Millennium Trust Company Benefits Overview

We provide a full range of competitive benefits, augmented by what we'll call 'soft' benefits like our state-of-the-art office building with fitness center (free access/membership) and business-casual dress code.

Culture
Volunteer in local community
Partners with Nonprofits
Eat lunch together
Intracompany committees
Open door policy
Open office floor plan
Diversity
Dedicated Diversity/Inclusion Staff
Diversity Employee Resource Groups
Health Insurance & Wellness Benefits
Disability Insurance
Dental Benefits
Vision Benefits
Health Insurance Benefits
Life Insurance
Pet Insurance
Wellness Programs
Onsite Gym
Retirement & Stock Options Benefits
401(K) Matching
Performance Bonus
Child Care & Parental Leave Benefits
Generous Parental Leave
Family Medical Leave
Vacation & Time Off Benefits
Generous PTO
Paid Holidays
Paid Sick Days
Perks & Discounts
Casual Dress
Professional Development Benefits
Tuition Reimbursement
We offer eligible employees a company funded contribution applied to a qualified higher education student loan. This benefit helps employees pay off their student loans faster and save money.
Lunch and learns
Promote from within
Time allotted for learning

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