Operation Analyst-Custodial Operations

WEX Health provides custodial services to Health Savings Account (HSA) partners and consumers through the WEX Inc. Non-Bank Custodian (NBC). The NBC Control Operations Analyst 1 performs daily operational control execution, monitors partner compliance, and helps identify and mitigate regulatory and financial risk across HSA custodial services.

WEX is a global commerce platform that helps businesses solve for operational complexities like employee benefits, managing and mobilizing fleets, and streamlining payments. With over 6,500 employees, we work with large and small companies in more than 200 countries and territories, and can tailor our services to meet the unique needs of their businesses. We hire people who share our passion for continuous innovation and client service that is unparalleled in the industry.

• Monitor reporting and review consumer accounts to ensure compliance with OFAC (Office of Foreign Assets and Control) sanctions
• Review documents to ensure compliance with the Consumer Identification Program (CIP) and notify partners of required action for accounts lacking proper consumer identification documentation
• Monitor reporting on consumer account balances and notify partners of overdrawn accounts, including coordinating end-of-year funding to ensure accounts are properly funded and reconciled
• Monitor third-party administrator (TPA) and partner operational workflows to enforce adherence to Non-Bank Custodian compliance standards and established service levels
• Collaborate with the Banking team to onboard and terminate partners, ensuring account setup, access, and related banking processes are completed accurately and in accordance with established procedures

• Resolve partner-submitted operational tickets and inquiries within established SLAs, maintaining clear, professional communication
• Investigate and resolve escalated inquiries regarding HSA tax reporting (e.g., Forms 1099-SA and 5498-SA)
• Maintain active partner operational contact lists and distribute compliance notifications and operational alerts

• Identify friction points, recurring defects, or manual bottlenecks in daily workflows and suggest process enhancements
• Assist in updating and maintaining Standard Operating Procedures (SOPs), process flows, and audit-ready control documentation
• Support audit readiness by compiling sample documentation and evidence for internal and external control evaluations
• Execute other cross-functional operational projects as assigned
• Proactively identify and embrace opportunities to integrate AI and automation technologies into operational processes, including initiatives to drive scale, reduce reliance on manual processes and mitigate operational risks

• Bachelor’s degree in Business, Finance, Accounting, or a related field; or a minimum of 1 year of experience in risk operations, internal controls, banking, or healthcare financial services
• Working familiarity with regulatory frameworks impacting HSAs (e.g., IRS guidelines, CIP/KYC, and OFAC)
• Strong numerical and analytical capabilities, with high attention to detail in discrepancy identification
• Strong organizational skills with demonstrated ability to manage competing operational deadlines independently
• Proficiency in Google Workspace and Microsoft Excel
• Clear, professional written and verbal communication skills across internal and partner-facing channels
• Must successfully pass a comprehensive background investigation
• Demonstrated capability to independently manage individual work-queues under changing priority environments
• Strong working knowledge of spreadsheet data manipulation…