Conversion Specialist

At Community Financial System, Inc. (CFSI), we are dedicated to providing our customers with friendly, personalized, high-quality financial services and products. Our retail division, Community Bank, N.A., operates more than 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts. Beyond retail banking, we also offer commercial banking, wealth management, investment management, insurance and risk management, and benefit plan administration.

Just as our employees are committed to helping our customers manage their finances, we're committed to our employees. After all, they make it happen for our customers every day.

To ensure our people can enjoy long and successful careers here at CFSI, we offer competitive compensation, great benefits, and professional development and advancement opportunities. As an equal-opportunity workplace and affirmative-action employer, we celebrate and support a diverse workplace for the benefit of all: our employees, customers and communities.

On new BPAS cases, the Conversion Department begins where the Sales Department leaves off. This position is responsible for working with outside sources such as the Prior Administrator and client to assure the transfer of clean and complete information needed to set up a new plan at BPA. The Conversion Department is responsible for ALL aspects of collecting, distributing and setting up the information needed for the future administration of a new plan. This position assists with educating Brokers, Dealers, Distributors, Clients, HR and IT personnel, clients, Trustees, Fund Families, prior Administrators, prior asset holder, payroll providers, and the client's Accountants and lawyers to the BPA process of conversion and administration.

Responsibilities include importing participant and financial information from files from prior administrator and client files; setting up balance forward funds; and sending emails and phone calls to prior administrators.

• Coordinate conference calls and updates between distributors, dealers/brokers, prior Administrators, prior asset holders, clients and their Accountants and/or lawyers, Plan HR and IT personnel
• Coordinate the release of Blackout Notices, Letters of Notification and Instructions per prior Admin/Asset Holders and timelines and fund verification approval notices
• Coordinate the complete transfer of a new plan's record from the prior administrator to BPA
• Coordinate the transfer of asset from the prior administrator/asset holder to BPA
• Support the Sales Department with such things as conference calls and distributing necessary information to other BPA departments
• Coordinate the departments within BPA to complete necessary information to other BPA departments. Coordinate the departments within BPA to complete necessary setups, such as Funds, ACH, Census, Trading, and Billing
• Reconciliation of the valuation from prior Administrators to BPA records
• Process necessary OMNI transactions to input balances and opening information
• Process OMNI transactions for trading from receiving wire transfers, or transfers in kind, at plan level and participant level accounts
  • Process all transactions for setting up a new account
• Collection of backup materials and set up of all take over loans
• Test all trades on POC prior to trading
• Educate new brokers, dealers and distributors to the BPA process
• Collection of all documents, valuations, prior 5500's and others necessary for the plans future administration
• Responsible for the completion of the first contribution trade
• Monitor fund statements for asset transfers
• Develop and enhance Conversion Department checklist
• Assist in developing broker and conversion manuals
• Conduct follow up to see that funds are opened in a timely fashion for new accounts
• Conduct follow up with clients on census problems
• Monitor Daily Funds Available sheets for assets
• Create financial transactions
  • Recognize incorrect data from prior administrators
• Corrective OMNI projects
• Assist with other conversion functions
• Reconcile takeover balances to valuation reports from prior administrator
• Import participant and financial information from files from prior administrators and client files
• Maintain proficient knowledge of, and demonstrate ongoing compliance with all laws and regulations applicable to this position, ensure ongoing adherence to pertinent policies, procedures, and internal controls, and meet all training requirements in a timely fashion.

• Minimum of a two year college degree in Accounting or equivalent experience
• Well-Developed written and oral communication skills
• Analyze problems and issues and present possible solutions to supervisor
• Ability to be highly organized and show an attention to detail
• Ability to prioritize work assignments and multitask
• Display an intermediate level competency with Microsoft Word and Excel, OmniPlus,and OmniImport, as well as personal computer skills
• All applicants must be 18 years of age or older

Hours: 40 hours/week

Compensation: Commensurate with experience plus potential for annual merit increase. In addition to your competitive salary, you will be rewarded benefits including: 11 paid holidays, paid vacation, Medical, Vision & Dental insurance, 401K with generous match, Pension, Tuition Reimbursement, Banking discounts and the list goes on!

Physical Requirements:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee may be required to stand, walk or sit. Use hands and fingers, handle or feel, reach with hands or arms, and speak and hear. The employee may occasionally be required to lift and or move up to 25 pounds. Specific vision abilities required by this job include close vision, and the ability to focus.

The Company is an Affirmative Action, Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex (including pregnancy, sexual orientation and gender identity), national origin, citizenship status, age, disability, genetic information, veteran status, or any other characteristic protected by applicable federal, state or local law.

The Company will make reasonable accommodations for qualified individuals with a disability. If you have a physical or mental impairment and would like to request an accommodation with respect to the application process, please contact the Human Resources Department.