Trust Reconciliation Specialist
CPS Inc, Chicago, IL, United States
Job Title: Trust Reconciliation Specialist
Job Summary The
Trust Reconciliation Specialist
is responsible for reconciling retirement plan trust accounts administered by a Third-Party Administrator (TPA). This role ensures the accuracy of plan-level financial data by comparing custodial records, participant transactions, and internal systems. The specialist plays a critical role in maintaining compliance with regulatory requirements and supporting the integrity of client retirement plans.
Key Responsibilities
Perform daily, weekly, and monthly reconciliations of retirement plan trust accounts (e.g., 401(k), pension plans)
Reconcile assets between custodians, recordkeeping systems, and internal TPA platforms
Identify, investigate, and resolve discrepancies related to contributions, distributions, loans, and investment activity
Monitor cash and asset movements to ensure timely and accurate posting
Ensure compliance with ERISA and other applicable retirement plan regulations
Maintain detailed documentation of reconciliation processes, discrepancies, and resolutions
Prepare reconciliation reports and provide updates to internal teams and management
Partner with recordkeeping, compliance, and client service teams to resolve issues
Support plan audits by providing required reconciliation data and documentation
Assist in improving reconciliation workflows, controls, and automation processes
Qualifications
Bachelor’s degree in Accounting, Finance, or related field (or equivalent experience)
2+ years of experience in trust accounting, retirement plan administration, or reconciliation preferred
Understanding of retirement plans (e.g., 401(k), 403(b), pension plans) and trust accounting principles
Familiarity with custodial platforms and recordkeeping systems
Advanced proficiency in Microsoft Excel; experience with reconciliation or accounting software
Strong attention to detail and analytical skills
Ability to manage multiple plans and deadlines in a fast-paced environment
Preferred Skills
Experience working at a TPA, recordkeeper, or financial services firm
Knowledge of ERISA regulations and retirement plan compliance requirements
Experience with plan audits and Form 5500 support
Strong communication and problem-solving skills
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Job Summary The
Trust Reconciliation Specialist
is responsible for reconciling retirement plan trust accounts administered by a Third-Party Administrator (TPA). This role ensures the accuracy of plan-level financial data by comparing custodial records, participant transactions, and internal systems. The specialist plays a critical role in maintaining compliance with regulatory requirements and supporting the integrity of client retirement plans.
Key Responsibilities
Perform daily, weekly, and monthly reconciliations of retirement plan trust accounts (e.g., 401(k), pension plans)
Reconcile assets between custodians, recordkeeping systems, and internal TPA platforms
Identify, investigate, and resolve discrepancies related to contributions, distributions, loans, and investment activity
Monitor cash and asset movements to ensure timely and accurate posting
Ensure compliance with ERISA and other applicable retirement plan regulations
Maintain detailed documentation of reconciliation processes, discrepancies, and resolutions
Prepare reconciliation reports and provide updates to internal teams and management
Partner with recordkeeping, compliance, and client service teams to resolve issues
Support plan audits by providing required reconciliation data and documentation
Assist in improving reconciliation workflows, controls, and automation processes
Qualifications
Bachelor’s degree in Accounting, Finance, or related field (or equivalent experience)
2+ years of experience in trust accounting, retirement plan administration, or reconciliation preferred
Understanding of retirement plans (e.g., 401(k), 403(b), pension plans) and trust accounting principles
Familiarity with custodial platforms and recordkeeping systems
Advanced proficiency in Microsoft Excel; experience with reconciliation or accounting software
Strong attention to detail and analytical skills
Ability to manage multiple plans and deadlines in a fast-paced environment
Preferred Skills
Experience working at a TPA, recordkeeper, or financial services firm
Knowledge of ERISA regulations and retirement plan compliance requirements
Experience with plan audits and Form 5500 support
Strong communication and problem-solving skills
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