NQ Reconciliation Specialist, Newport

Newport, an Ascensus company, helps employers offer their associates a more secure financial future through retirement plans, insurance and consulting services. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. As a provider and partner, Newport is independent, experienced, and responsive.

Working closely with internal and external resources, the Reconciliation Specialist performs functions to support Non‑Qualified Plan Asset and Liability Management for clients by ensuring financial data integrity of cases and recommending appropriate financial adjustments to Trust accounts and/or plan liabilities. Processes participant payments out of the plan trust.

• Work with the trust/trading platform and internal resources to ensure the plan assets are hedged to the plan liabilities.
• Perform quality assurance reviews, daily cash and unit reconciliation.
• Reconcile cash positions with incoming deposits and pending trades.
• Understand general trading functions and the different security types.
• Compare system output from multiple systems, reconcile, recommend trades, and communicate status of assets and records.
• Identify and research discrepancies and take appropriate action to resolve them.
• Identify, analyze, and assist in executing improvements for daily administrative processes and procedures.
• Assist in developing additional financial controls and identifying preventative measures.
• Manage outgoing payments and tax documentation for plan participants.
• Assist in the trust setup process to ensure required paperwork is complete and accurate.
• Analyze data, reconcile participant records and trust accounts, and resolve asset and data transfer issues.
• Effectively interact with vendors, the team, and other areas of the firm.
• Work in a fast‑paced, demanding environment under tight deadlines.
• Ensure final work products are of high quality, timely, and adhere to internal guidelines, plan descriptions, and sample calculations.
• Focus on learning in everyday activities and events.
• Collaborate with and openly share knowledge with colleagues.
• Maintain regular, reliable, and punctual attendance.

Two years’ experience in the financial services industry with knowledge and experience in trust setup, reconciliation, and asset transfer. Working knowledge of MS Excel and Word.

Preferred (but not required) education or skills:
Bachelor’s degree (B.

A.) from a four‑year college or university.

• Customer oriented
• Detail oriented
• Verbal and written communication skills
• Independent
• Personable
• Planning and organizing
• Resourceful
• Team player
• Thoroughness
• Time management
• Accuracy
• Self-starter

Up to 5%.

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.