Operation Analyst-Custodial Operations

About the Team/Role

WEX Health provides custodial services to Health Savings Account (HSA) partners and consumers through the WEX Inc. Non-Bank Custodian (NBC). The NBC Control Operations Analyst 1 performs daily operational control execution, monitors partner compliance, and helps identify and mitigate regulatory and financial risk across HSA custodial services.

How you'll make an impact
DAILY OPERATIONS

• Monitor reporting and review consumer accounts to ensure compliance with OFAC (Office of Foreign Assets and Control) sanctions
• Review documents to ensure compliance with the Consumer Identification Program (CIP) and notify partners of required action for accounts lacking proper consumer identification documentation.
• Monitor reporting on consumer account balances and notify partners of overdrawn accounts, including coordinating end-of-year funding to ensure accounts are properly funded and reconciled.
• Monitor third-party administrator (TPA) and partner operational workflows to enforce adherence to Non-Bank Custodian compliance standards and established service levels.
• Collaborate with the Banking team to onboard and terminate partners, ensuring account setup, access, and related banking processes are completed accurately and in accordance with established procedures.

PARTNER & STAKEHOLDER SUPPORT

• Resolve partner-submitted operational tickets and inquiries within established SLAs, maintaining clear, professional communication.
• Investigate and resolve escalated inquiries regarding HSA tax reporting (e.g., Forms 1099-SA and 5498-SA).
• Maintain active partner operational contact lists and distribute compliance notifications and operational alerts.

OPERATIONAL EXCELLENCE & PROCESS IMPROVEMENT

• Identify friction points, recurring defects, or manual bottlenecks in daily workflows and suggest process enhancements.
• Assist in updating and maintaining Standard Operating Procedures (SOPs), process flows, and audit-ready control documentation.
• Support audit readiness by compiling sample documentation and evidence for internal and external control evaluations.
• Execute other cross-functional operational projects as assigned.
• Proactively identify and embrace opportunities to integrate AI and automation technologies into operational processes. This includes initiatives to drive scale, reduce reliance on manual processes, and mitigate operational risks.

These statements are intended to describe the general nature and level of work being performed rather than give an exhaustive list of all duties and responsibilities.

Experience you'll bring

• Bachelor’s degree in Business, Finance, Accounting, or a related field; or a minimum of 1 year of experience in risk operations, internal controls, banking, or healthcare financial services.
• Working familiarity with regulatory frameworks impacting HSAs (e.g., IRS guidelines, CIP/KYC, and OFAC).
• Strong numerical and analytical capabilities, with high attention to detail in discrepancy identification.
• Strong organizational skills with demonstrated ability to manage competing operational deadlines independently.
• Proficiency in Google Workspace and Microsoft Excel.
• Clear, professional written and verbal communication skills across internal and partner-facing channels.
• Must successfully pass a comprehensive background investigation.

• Demonstrated capability to independently manage individual work-queues under changing priority environments.
• Strong working knowledge of spreadsheet data manipulation functions (including Pivot Tables, data filtering, and text matching).

About Us

WEX is a global commerce platform that helps businesses solve for operational complexities like employee benefits, managing and mobilizing fleets, and streamlining payments.

With over 6,500 employees, we work with large and small companies in more than 200 countries and territories, and can tailor our services to meet the unique needs of their businesses.

We hire people who share our passion for continuous innovation and client service that is unparalleled in the industry. Offering comprehensive and market competitive benefits, our offerings are designed to support your personal and professional well-being. If you’re looking for a growing career - come be part of WEX today. To learn more about our employee benefits, please click here.

WEX is an equal opportunity employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to sex, race, color, age, national origin, religion, sexual orientation, gender identity, protected veteran status, disability or other protected status. WEX promotes a drug-free workplace.

Qualified individuals with a disability have the right to request a reasonable accommodation. If you require a reasonable accommodation as a result of your disability at any point in the job application process, please submit your request through our Reasonable Accommodation Request Form.

This form is for accommodation requests only and cannot be used to inquire about the status of applications.