This feature is supported through Adobe Media Encoder (AME) which is basically the background rendering engine for a number of the cloud apps including Premiere and AE.
You need to set up watch folders. So long as AME is running, (I also believe you can have AME run as a background service now - but you may want to double check that) - and you have your preferences in AME correctly set up, any files placed into a watch folder will be processed based on attributes you specify - per watch folder. So you can have a folder where any files that you download or place there will be automatically trans-coded into XYZ format, only when system is idle, etc, then original file should be kept, or moved, or renamed.
AME also allows you to do a number of post processing on the files automatically, such as watermarking, basic image enhancements, etc.
Essentially you specify a watch this folder, then create a template to bake the files placed there.
Documentation for this is online at Adobe and countless tutorial videos exist on YouTube detailing basic and advanced setup solutions.