Billing Specialist, Vestwell
$65-80k
Digital recordkeeping platform for 401(k) plans
Be an early applicant
Digital recordkeeping platform for 401(k) plans
201-500 employees
Be an early applicant
$65-80k
201-500 employees
Company mission
To make managing retirement investments cheaper, simpler and safer.
Role
Who you are
- Bachelor’s degree in Finance, Accounting, or a related field
- 0 - 1 years of experience in billing, accounts receivable, or finance operations
- Proficiency in Excel; familiarity with billing is a plus
- Strong attention to detail and a willingness to learn
- Effective communication skills and ability to work collaboratively in a team setting
- Organizational skills and ability to handle multiple tasks effectively
What the job involves
- As a Finance Associate in the Billing Team, you will play a critical role in ensuring smooth and accurate billing operations
- You will be responsible for managing customer profiles, assisting with preparing invoices, and monitoring accounts receivable to support the financial health of the company
- Your role will involve frequent interaction with clients, partners, and internal teams to resolve issues and facilitate timely payments
- Additionally, you will contribute to financial reporting, assist in reconciliation tasks, and help streamline billing processes
- This position also offers the opportunity to participate in system implementations and enhancements, where you will work to optimize our billing software and improve operational efficiency
- Support billing operations by creating and updating customer profiles in internal systems
- Assist in preparing invoices and statements, ensuring accuracy and timely distribution
- Help monitor accounts receivable, track outstanding payments, and provide support for collections
- Perform reconciliations for billing transactions
- Coordinate with team members to address customer inquiries regarding billing issues
- Provide assistance in preparing reports for monthly and quarterly close processes
- Support month-end, quarter-end, and year-end close processes
- Participate in team meetings to stay updated on billing policies and procedures
Application process
- It starts the same for every candidate: getting to know the team members through 1 - 2 conversations about Vestwell, your experience, and your interests
- Next steps can vary by role, but the usual next steps are a skill or experience screen (e.g. a coding interview for an Engineer, a portfolio review for a Designer, deeper experience call for other roles) which leads to a virtual or in-person interview panel after that if the screens go well
- Before making an offer, our interview process concludes with a references check stage for your recruiter to meet with a current or former supervisor and peer. We prioritize transparency and lack of surprise throughout the process
Our take
The current landscape of 401(k) retirement plans is stagnant in comparison to the standards of financial software innovation. Vestwell offers a digital record-keeping platform that works directly with wealth management firms to help workplaces save money on their employee retirement plans. Vestwell does this by removing the friction points financial advisors and companies have in establishing and maintaining defined contribution and benefit programs.
The startup faces competition from legacy players such as Boston-based Fidelity Investments who currently keep track of almost $2 trillion in assets in the industry. Furthermore, Empower also focuses on advisor-friendly and customized web tools and functionality, presenting further competition to Vestwell.
Despite this, Vestwell is uniquely positioned to disrupt the stagnant 401(k) system, a stance only strengthened by its substantial rounds of funding through the 2020s. This has been invested into expanding platform functionality and servicing for its partners and clients, releasing two new products in September 2022 - Vestwell Flex and a TPA portal. These additions will make Third Party Administration partnerships more efficient for Vestwell customers, streamlining the recordkeeping systems necessary for such actions. Continued product updates like these will help Vestwell keep pace with its substantial competition.
Steph
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (last 2 of 5 rounds)
Dec 2023
$125m
SERIES D
Jul 2021
$70m
SERIES C
Total funding: $237.5m
Company benefits
- We’re a growth stage startup with lots of exciting milestones ahead
- We value health and wellness at Vestwell and in addition to a dedicated Employee Wellbeing Committee, we offer competitive health coverage and an open vacation policy
- We have adopted a remote-hybrid office policy, but all employees are welcome at our bright, comfortable office with many workspace options in midtown Manhattan so everyone has a setting that is the most productive for them
- We provide our team with all the equipment they need (plus a few perks!) to work effectively remotely. Oh, and naturally we have a great 401(k) plan!
Company values
- Act like an owner - As a mission-driven company, we value our team members and prioritize employee ownership. We believe in creating an environment where each Vestweller feels empowered to support closing the retirement savings gap across the country
- Look for the better way - At Vestwell, you’ll be continuously challenged to find better solutions to address industry norms. We are on the road to revolutionizing workplace savings programs and look to our team of innovators to lead the way
- Embrace the difficult - Vestwell is on a mission to do great things, and the only way to get there is by taking on some incredibly complex challenges. We believe in embracing the difficult to ensure the largest positive impact for our industry, clients, and partner
- Help me, help you, help us - We build relationships based on trust, equality, respect, and support. Our unique blend of diverse perspectives allows us to grow authentically while sharing a common connection to our goals, mission, and vision
Company HQ
Garment District, New York, NY
Articles
Leadership
Aaron Schumm
(CEO)Studied Finance at GIES College of Business and then received an MBA from Duke. Head Equity Research at financial advisory firm Dillon Scott Securities, Product Manager at Fiserv, VP of Product Marketing at Citi.
People progressing
Joined as SVP Finance & HR in August 2017. Was made CFO in January 2020.
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