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The TD Ameritrade Retirement Plan Sr Billing Specialist is responsible for the timely and accurate processing of all aspects of client billing for the TDARP product. Responsibilities include maintaining plan-level fee and invoicing information, generating quarterly invoices, reconciling payments, building and maintaining integrations from the plan systems to the Accounting system, collection activities, and reporting. The Specialist will also be responsible for review of all TDARP vendor-level billing and facilitation of payment to vendors as well as support of advisor billing and will provide ongoing support for TDARP reporting, analytics and data file needs. The TDARP Sr Specialist will also act as the project lead throughout the duration of the Workday integration as it relates to the billing process and data.
Monitors and completes all steps of the quarterly billing process for all TDARP client accounts
Must possess strong knowledge of TDARP products and services and apply that understanding to determine appropriate fee schedules including monitor various fee tiers and adjusting fee levels as plan assets increase/decrease.
Generates and delivers invoices and billing statements, as applicable, by established deadlines based on the applicable fee schedules and using data received from sub-custodian, TDARP service team and recordkeeping vendors.
Maintain TDARP plan-level fee schedules on applicable systems.
Monitors the quarterly plan-level revenue collection efforts by sub-custodian for accuracy and applies revenue to plan invoices as directed by the plan or communicates revenue amounts to RMs
Responds to inquiries from clients (plan sponsors and advisors) vendors, and TDARP service team regarding the billing process, invoices/billing statements.
Performs research and takes necessary steps to resolve issues related to billing inquiries.
Accounts Receivable:
Ensures all billing follow-up procedures are completed within established timelines for each TDARP plan account.
Ensures that all fees have been invoiced and collected prior to a transfer or termination of account.
Posts payments accurately to appropriate plan account invoices.
Account Collections:
Coordinates generation of second and third invoice due reminders to be mailed on day 31 and 61 after the quarterly billing date.
Coordinates written and/or verbal notice to applicable parties regarding past due fees.
Account Reconciliation:
Reconciles the sub-custodial fee account(s) and researches/resolves discrepancies.
Keeps detailed reports, spreadsheets, and / or databases of accounts and the activity within them.
Maintains accurate records/processing of all invoices and payments in Workday to support Corporate Accounting needs. Responds to inquiries from, and provides reports and support to, Corporate Accounting as needed.
Receive and review of all vendor-level billing and facilitate payment to vendors.
Assist vendors/RMs with facilitation of quarterly advisor fee payments/sweeps and potential changes/corrections.
Partner with Technology to design, build, and test integrations between plan systems and Workday.
Act as department lead to maintain the system throughout integration.
Provides a semi-annual file of all plan fees to TDARP vendor(s) for inclusion in a plan-level “health” report by established deadlines and qc output from vendor prior to reports being published to clients.
Provides the following periodic reports to management, and provides ad hoc reporting as requested:
Asset Value reports
Quarterly projected billing
Quarterly actual billing
Receivables/past due
Salesforce / metrics reporting for TDARP product
Support of various data feeds between vendors and TDA
Maintains up to date billing procedures
Acts as a subject matter expert on TDARP billing (client and vendor levels) as well as general accounting principles.
Provides reports and support for auditors (internal and external)
Bachelor's Degree or Equivalent Experience (Degree in Accounting preferred)
4+ years of total experience
General working knowledge of the retirement and financial services industries and retirement plan types as well as RIA and TPA/record-keeper business models is required.
Must be a highly proficient user of Excel and Access, including all types of query/ report writing, importing/exporting data between applications.
Accounts receivable operational experience is required.
Strong knowledge of TDARP product and service delivery, and the billing parameter of each is required.
Must have ability to work with little supervision and demonstrate sound problem resolution skills.
Position requires knowledge of Imaging and workflow, Back office Systems, and Salesforce.
Must have strong knowledge of general accounting principles, Accounting degree preferred.
Must be able to work with various accounting software, Oracle and Workday experience is strongly preferred. Individual must become a proficient user of Workday.
Salesforce experience is strongly preferred
Requires strong communication skills and ability to interact with external clients and various levels of an organization.
Must be highly organized, detail-oriented, and have strong time management skills.
Must be able to operate normal office tools such as PC, fax, telephone, etc.
Military education or experience may be considered in lieu of civilian requirements listed
TD Ameritrade is an equal opportunity employer. At TD Ameritrade we believe that people matter. We value diversity and believe that it transcends race, national origin, age, marital status, gender identity / expression, sexual orientation, citizenship status, service in the armed forces, disability, thoughts, ideas and perspectives. Our commitment to building an inclusive culture is aimed at attracting and retaining diverse talent, clients and shareholders to the firm. It's a belief that's core to the success of our organization.
