The Hardship Specialist is responsible for the accurate and timely processing of Hardship distributions and Unforeseen Emergency Withdrawals (both outsourced and non-outsourced) received from participants within Defined Contribution plans (401k, etc). In addition, the Hardship Specialist is responsible for outbound, and some inbound, phone communication with participants, discussing their requests. The role will involve the review of complex medical bills, real estate documents, mortgage documents and other types of documents from various industries, as well as the ability to use sound judgement in the decision-making process. The review and determination of qualification of supporting documentation is required for outsourced requests. This position is a non-exempt, job grade 13P, and therefore eligible for overtime.
Key Functions of the Position:
Candidate must have strong organizational and communication skills
Must have the ability to consistently meet individual quality and production standards and adhere to standard operating procedures
Strong interpersonal skills are required to successfully partner with other Hardship Specialists, Call Center and Relationship Managers.
The Hardship Specialist must be able to adhere to IRS guidelines, as well as standard operating procedures and plan rules.
RSRPRUD
Degree or 2 years of transaction processing experience in a fast-paced environment preferred
Attention to detail is critical
Knowledge of Microsoft Office is a plus
Must be able to gain a good understanding of banking, real estate and medical industries in order to appropriately interpret supporting documentation for approval of hardship withdrawal requests.
Overtime may be needed during peak volumes
Responsible for both inbound and outbound calls for participants requesting hardship and unforeseen emergency withdrawals
Ability to handle difficult calls and verbally communicate effectively with participants in very sensitive situations
Demonstrate a continuous sense of urgency on these time sensitive requests
