Great-West Financial Empower Retirement

  • Payment Specialist

    Location US-CO-Denver (DTC)
    Posted Date 2 weeks ago(4/3/2018 11:24 AM)
    Job ID
    # Positions
    Hidden (2896)
  • Position Highlights

    Under general direction, the Payment Specialist is responsible for researching commission related issues or questions; coordinates file exchange testing between the Great-West Financial and Empower Retirement and outside vendors via DTCC and NSCC ensuring accurate compensation payments  for all  lines of business; tests changes  made for system enhancements or product rollout related to SAP; prepares reconciliations for review and approval; processes appropriate entries into the various suspense accounts as needed.

    Primary Responsibilities

    • 55% - Prepare reconciliations for review and approval; processes returned checks, rejected ACH or wires, requests for stop payments, reissues and manual payments; state escheatment as needed; monitor debit balances, determining route cause and appropriate action to take to resolve which could include reaching out to the payee via call or in writing; documenting actions taken and next steps, preparing monthly detailed reporting for review and approval prior to presenting to Sr. Management; ensures all required journal entries and periodic reporting has been processed timely and accurately for all assigned work.
    • 30% - Research and respond to all problems and priority questions from our external partners: producers, advisors, brokers, broker dealers and our internal partners: COLI, BOLI service center representatives, sales associates and client services which represent all lines of business; on escalated issues, the Payment Specialist will work with their manager on final resolution.
    • 10% - Perform user acceptance testing for system enhancements for product rollout related to SAP; update procedural documents related to the enhancement and product rollouts; act as point person to coordinate new partner testing and set up to allow compensation to be paid timely and accurately; act as a subject matter expert and a liaison between the company and our external partners: producers, advisors, brokers, broker dealers and our internal partners: sales associates and client services which represents all lines of business.
    • 5% - Will assist in the training of new team members on all aspects of the Payments Specialist role; perform peer quality reviews; update processing documentation as needed.


    • Associate's Degree preferred or equivalent work experience
    • 2 - 4 years working experience the Financial Services Industry preferred
    • Excellent Communication and Customer Service Skills
    • SAP experience preferred
    • Strong PC skills, specific to Word and Excel
    • Able to manage multiple tasks and priorities simultaneously
    • Good problem solving skills, can work independently and strong team player


    Working Conditions/Physical Requirements: Normal Office Working Conditions


    This job description is not intended to be an exhaustive list of all duties, responsibilities and qualifications of the job.  The employer has the right to revise this job description at any time.   You will be evaluated in part based on your performance of the responsibilities and/or tasks listed in this job description.   You may be required perform other duties that are not included on this job description.  The job description is not a contract for employment, and either you or the employer may terminate employment at any time, for any reason.

    About Great-West Financial

    At Great-West Financial® and Empower Retirement, our more than 5,700 global associates are dedicated to helping customers secure their financial futures. We offer a range of retirement savings products, life insurance, annuities and investment services from offices across the country. If you’re interested in joining a company that enjoys a record of strong performance and is rich in history yet innovative, bold and transformative, then our organization is an outstanding place for you to grow and succeed. We’re an equal opportunity employer dedicated to workforce diversity. We’re also committed to providing a drug-free workplace.


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