Custodial Operations Analyst 1

Overview

This role involves supporting the daily operations of Health Savings Account (HSA) Custodian processes. The position requires a detail-oriented and proactive individual with strong analytical skills and the ability to collaborate effectively with internal teams and external partners.

Responsibilities

• Process internal bank transfers and wires accurately.
• Reconcile depository and intermediary bank accounts.
• Facilitate money movements for HSA contributions, distributions, and consumer investment transactions.
• Coordinate and facilitate sub-custodian processing for financial institutions.
• Manage Contribution Exception processing from partner notification through resolution.
• Provide input and support to streamline HSA Custodian Operations processes.
• Contribute to the development and maintenance of operational procedures.
• Maintain positive vendor relationships to ensure smooth operations.
• Collect and validate data from various sources to ensure accuracy of HSA transactional records.
• Perform routine analysis to support daily account reconciliations, exception management, and discrepancy investigations.
• Generate and distribute reports monitoring operational metrics, SLAs, transaction volumes, and trends.
• Identify opportunities for process automation, risk mitigation, and efficiency improvements.
• Identify and escalate potential risks or control gaps; investigate and resolve transaction discrepancies and errors promptly.
• Respond to consumer and partner inquiries related to HSA Custodian processing, including tax reporting, unclaimed property, and contribution processing within service level agreements.
• Support internal teams and report on external service level agreements.
• Proactively identify and implement AI and automation technologies to drive scale, reduce manual processes, and mitigate risks.
• Complete other projects as assigned.

Requirements

• Bachelor’s Degree in business, finance, accounting, or related field preferred but not required.
• Strong analytical and problem-solving skills with exceptional attention to accuracy and detail.
• High proficiency with spreadsheet software such as Microsoft Excel or Google Sheets.
• Effective written and verbal communication skills for collaboration with internal and external stakeholders.
• Excellent organizational and time-management skills to handle multiple tasks in a fast-paced environment.
• Proactive and self-motivated work ethic with flexibility to adapt to change.
• Ability to successfully pass a background investigation.

Preferred Qualifications

• Direct experience with HSA/custodial operations or experience in treasury or accounting roles.
• Strong customer service and interpersonal skills.
• Experience with advanced spreadsheet functions such as VLOOKUPs, pivot tables, MACROs, and AppScripts.
• Familiarity with wire transfer platforms and core banking systems.
• Proven ability to adapt to change and take initiative on new projects.
• 1-2 years of experience in the Financial Services industry.

Compensation & Benefits

• Base pay range: $55,800.00 - $60,900.00.
• Actual pay will vary based on qualifications, skills, and proficiency.
• Compensation package may include quarterly or annual bonuses depending on role.
• Benefits include health, dental, and vision insurance; retirement savings plan; paid time off; health savings and flexible spending accounts; life and disability insurance; tuition reimbursement; and more.

Location

Information about the work location is not specified in this description.