Deepak Kumar
Summary
Detail-oriented Financial Services Professional with 6+ years of experience in distribution processing and check disbursement, specializing in managing complex transactions for leading trade agents such as Fidelity and Charles Schwab. Seeking a role in 401K Defined Contribution Money Out to leverage expertise in compliance and transaction management processes using advanced systems and financial tools.
Overview
9
9
years of professional experience
1
1
Certification
Work History
ProcessCheck and Take Care of Money Out Processing
US TRPRC
10.2018 - Current
- Handle distribution processing and check disbursements
- Managed distribution processing and disbursements checks for Fidelity, Matrix, and Mid-Atlantic trade agents
- Executed wire transfers, checks, and ACH transactions to transfer plan assets
- Trained new joiners on plan structures, processes, and system use
- Processed distribution applications with meticulous attention to detail, ensuring compliance with federal and state tax regulations
- Occasionally supported the compliance team in preparing annual report
- Released daily trades for distribution, loans, and fees transaction to U.S. employees
- Process distribution of RMD's, Termination, In Service, Partial, Death and Hardship for multiple plans of Charles Schwab, Fidelity, Matrix and MidAtlantic
- Calculated federal and state taxes for participant distributions, ensuring precise tax withholdings
- Prepared Form 1099-R and conducted reconciliation of processed transactions to maintain financial accuracy
- Assisted participants with distribution inquiries and provided guidance on available options
- Processed participant distribution requests, including lump-sum, partial, ACH, overnight, wire, and rollover payments
- Handled various distribution types: termination, in-service, hardship, rollover, corrective, online and force-out (for both active and terminating plans)
- Executed fee-out, transfer-in/out, transfer-for-fee-out, and forfeiture transactions. Delivered timely and accurate calculations for Required Minimum Distributions (RMDs)
- Verified and processed disbursement checks by accurately reconciling transaction data in Oracle Financials to ensure timely and compliant payments
- Delivered precise calculations supporting over $50M in annual disbursements by applying advanced mathematical skills to validate distribution amounts, tax withholdings, and transaction balances, reducing processing discrepancies by 15% within a 12-month period using FIS Relius and proprietary portal systems
- Streamlined money-out operations by accurately processing disbursement checks, executing payments through ACH, wire transfers, and checks, and maintaining compliance with regulatory requirements across diverse retirement plans
- Ensured tax compliance by validating and processing over 2,000 retirement plan disbursement transactions annually—including ACH, wire, and checks—using Oracle Financials and FIS Relius, resulting in a 100% audit pass rate over 12 months
- Fast-tracked from Trainee to Process Champ
- Consistently delivered 100% accuracy in reporting and documentation
Backend Support & Client Coordinator
Hartron Communications Ltd.
03.2016 - 2018
- Maintained detailed documentation of all client interactions, allowing for seamless handoffs between team members when necessary.
- Enhanced client satisfaction by promptly addressing concerns and providing personalized solutions.
- Conducted regular reviews of ongoing projects, updating clients on progress and making adjustments as needed.
- Established long-term relationships with clients by consistently delivering exceptional service.
Education
BCA -
Monad University
Hapur, Uttar Pradesh01.2015
Skills
- MS Excel (Conditional formatting, Filter, VLOOKUP, Pivot tables, Data Analysis & Reporting, Charts & Visualization & Advanced Excel)
- FIS Relius application
- Knowledge of HTML, CSS
- C, C
- SQL Server
- Internet Applications & Web Tools
Certification
.Net - HARSCWITEC Computer Education
C, C++ - NIIT
MS-Excel - Udemy
Languages
English
Intermediate (B1)
Hindi
Bilingual or Proficient (C2)
Timeline
ProcessCheck and Take Care of Money Out Processing
US TRPRC
10.2018 - Current
Backend Support & Client Coordinator
Hartron Communications Ltd.
03.2016 - 2018
BCA -
Monad University
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