Custodial Operations Analyst
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AI Summary
About the Team/Role
We are seeking a detail-oriented and proactive individual to join our team as an HSA Custodian Operations Analyst 1. In this role, you will play a crucial part in the daily operations of our Health Savings Account (HSA) Custodian processes. The ideal candidate will have a strong analytical mindset, exceptional organizational skills, and the ability to collaborate effectively with internal teams and external partners.
How you'll make an impact
HSA Transaction Processing:
Process internal bank transfers and wires accurately.
Reconcile depository and intermediary bank accounts.
Facilitate money movements for HSA contributions and distributions.
Facilitate money movements for consumer investment transactions.
Coordinate and facilitate sub-custodian processing for financial institutions.
Manage Contribution Exception processing from partner notification through resolution.
Operational Efficiency:
Provide input and support in streamlining processes within the HSA Custodian Operations.
Contribute to the development and maintenance of procedures related to HSA Custodian Operations.
Maintain positive vendor relationships to ensure smooth operational processes.
Data Gathering:
Collect and validate data from various internal and external sources to ensure the accuracy and completeness of HSA transactional records.
Perform routine analysis to support key operational functions, including daily account reconciliations, exception management, and the investigation of discrepancies.
Generate and distribute reports to monitor operational metrics, track service level agreements (SLAs), and provide leadership with insights into transaction volumes and trends.
Leverage data to identify opportunities for process automation, risk mitigation, and operational efficiency improvements.
Risk Mitigation and Error Resolution:
Identify and escalate potential risks or control gaps in operational processes. Investigate and resolve transaction discrepancies and errors in a timely manner, documenting the resolution process.
Customer and Partner Support:
Respond to consumer and partner inquiries related to HSA Custodian processing such as tax reporting, unclaimed property, and contribution processing within service level agreement while demonstrating best-in-class customer service
SLA Support:
Support internal teams and report on external service level agreements.
Proactively identify and embrace opportunities to integrate AI and automation technologies into operational processes. This includes initiatives to drive scale, reduce reliance on manual processes, and mitigate operational risks.
Completes other projects as assigned
Minimum Required Qualifications for Consideration
Bachelor’s Degree in business, finance, accounting or related field preferred but not required
Strong analytical and problem-solving skills with an exceptional commitment to accuracy and detail.
High proficiency with spreadsheet software (e.g., Microsoft Excel, Google Sheets).
Effective communication skills (both written and verbal) for collaborating with internal teams and external partners.
Excellent organizational and time-management abilities to manage multiple tasks in a fast-paced environment.
A proactive and self-motivated work ethic with the flexibility to adapt to change.
Must successfully pass a background investigation.
Experience you'll bring
Direct experience with HSA/custodial operations or in a treasury or accounting role.
Strong customer service and interpersonal skills.
Experience with VLOOKUPs, pivot tables, MACROs and AppScripts.
Experience with wire transfer platforms and core banking systems.
Proven ability to adapt to change and take initiative on new projects.
1-2 years of experience working in the Financial Services industry
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