Billing Specialist
Engage & Anticipate
Achieve a mentality of staying aware, acting with purpose while thinking two steps ahead
Intellectual Curiosity: It is critical to understand the whole picture, not just what is in front of you at a particular moment. Understanding the who, what, why, how & when of a situation is critical to making the correct next step. Don’t simply take what is presented at face value – ensure the facts and circumstances support the situation. Ask Why? Ensure Understanding. Keep asking Why? until you understand.
Excellent communication skills: The majority of the directions will be sent via written instructions. Must be able to read the information provided to accurately start painting the picture in your mind of the specific situation. Understand what details in the information presented are important vs what are a distraction. Determine what additional information may be needed and use resources available to find the rest of the pieces of the puzzle. Be able to clearly document your understanding of the situation and steps taken.
Hypothesize and Predict: It’s just as important to know the end result as it is to understand the current situation. Complete understanding only comes with knowledge of what the conclusion should be.
Make it Happen
Don’t limit yourself to the options in front of you. Be resourceful, reaching above & beyond to fulfill commitments to others and yourself
Adaptable Consistency: Every situation will be different and we’re not a one-size-fits-all firm. Exceptions are the norm. The next scenario may be similar to something you’ve seen before, but not quite exactly the same. We can’t assume we’ll take the same steps today we did yesterday. Use logic and deductive reasoning to apply the same concepts consistently across different situations.
Able to work independently as self-starter
Adaptable Consistency: Every situation will be different and we’re not a one-size-fits-all firm. Exceptions are the norm. The next scenario may be similar to something you’ve seen before, but not quite exactly the same. We can’t assume we’ll take the same steps today we did yesterday. Use logic and deductive reasoning to apply the same concepts consistently across different situations.
Able to work independently as self-starter
Do it Right the First Time
Earn a reputation for trustworthy work, solid effort, and quality character
Expert Attention to Detail: Details matter . . . and pennies matter when it comes to not overcharging a client. Take pride in completing precise work, by having a strong attention to detail and accuracy. If you don’t have time to do it right, when will you have the time to do it over?
Excellent time management skills: Fees timely submitted and summarized each month to allow sufficient time for payroll to be processed. Not meeting deadlines on billing will have negative consequences on accounting and payroll. Be considerate of others’ deadlines.
Remain Relevant
We have a duty to serve future generations. Seek growth & embrace change. Remember where we’ve been but focus on where we’re going.
Strong, adaptive technology abilities: Our industry and the technology we use to serve our clients are constantly evolving. Keep aware of current and future enhancements and be able to adapt procedures and processes to take advantage of these improvements.
Work Hard/Live Right
Strive for maximum effort and tend to matters important to you.
Passion for our business: Not only within the wealth management and financial planning industry, but in providing service to everybody we come in contact with. Our hope is to have a meaningful impact on people’s lives. Learn terms and situations relevant to our industry. Work towards being fluent in our language, studying appropriate industry specific exam material. Be available to work overtime, as needed, to meet monthly deadlines, but also take time out of the office to focus on what’s important to you personally. There is more to life than work.
Billing Specialist Responsibilities
• Own the process of and be solely responsible for accurate & timely monthly advisory fee billing o Apply appropriate billing related settings to every new account, based on the facts and circumstances applicable to that account
o Read, understand, and execute tasks pertaining to billing related instructions
o Reconcile portfolio management software balances to custodian, identifying any corrections that need made and taking appropriate action as needed
o Timely submission of monthly management fee files to custodians
o Confirm expected results occurred and identify any follow-up steps for future months
• Collaborate with Accounting Associate to ensure accurate calculation of monthly advisor compensation
o Accurate completion of monthly fee worksheet (Excel, 50+ tabs)
o Prepare appropriate deposit entries for posting in QuickBooks
o Expand and modify monthly fee worksheet as new situations arise
• Track and reconcile all monthly, quarterly, and semi-annual payouts
• Monthly review & maintenance of Simple IRA Plan accounts
o Confirm participant employment status
o For terminated participants, update accounts as needed
• Understand and follow operational and quality control processes
• Compliance committee participation
• Maintain confidentiality of the sensitive nature of revenue and compensation
• Available for other duties, as required