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Compliance Analyst, Retirement Plans

The Standard

in Remote

Functional Job Summary:

Using analytical, organizational and communication skills, this position is responsible for providing high level financial, contract and/or administrative analysis, preparation and review of client deliverables, while primarily managing  all compliance related activities for defined contribution plans including preparation of contribution allocations, non-discrimination and compliance testing, census requests, required minimum distributions and required government filings. 

Job Specifications:

Education & Experience:  Bachelor's degree in related field; or the equivalent combination of education and/or relevant experience.

5 or more years of experience in defined contribution plan administration responsibilities, including allocation completion, document interpretation, asset reconciliation, and customer contact, or the equivalent combination of education and/or relevant experience. 

Deep knowledge of the Employee Retirement Income Security Act of 1974 (ERISA) and the impacts on employee benefit plans.

Ability to work extended hours during any peak season.

Knowledge: 

Use critical thinking and analysis to cull information from multiple sources including financial statements and participant census data.  Read, review and analyze data for accuracy and prepare plans for compliance testing, as well as unique and complex contribution allocations/validations and Form 5500 preparation.

Perform all required non-discrimination testing for qualified retirement plans, with medium to high complex provisions and business structures, following plan document provisions and applying appropriate governmental regulations, including any pertinent legislative changes.  

Pursue American Society of Pension professionals and Actuaries (ASPPA) classes related to the Qualified Pension Administrator (QPA) designation or higher with the goal of continuous learning and building knowledge.

Business Acumen:  Research and perform data analysis regarding various aspects of retirement plans by reviewing and interpreting plan financial and census data, plan documents, ERISA guidance and regulations, in order to monitor and ensure legal compliance of plans, respond to questions from customer plan representatives, sales consultants and co-workers regarding various aspects of day-to-day plan administration, perform annual compliance testing for customer plans, perform annual government filings and respond to auditor questions regarding plan compliance.  Act as an expert resource for defined contribution procedures and pension regulations.  Review, analyze and evaluate plan documents and amendments for completeness, accuracy and conformation to systems and administrative requirements.

Use critical thinking and independent discretion in identifying and performing testing methods that may deviate from established processes that provide the most beneficial results for our clients.

Leadership and Autonomy:  Serve as a subject matter expert in complex topics relating to retirement plan administration and participate in or lead training events, carry out major assignments and provide feedback to influence future training related to short term and long term business objectives. 

Review work completed by co-workers on an as needed basis; provide detailed feedback to assure accurate plan administration and client satisfaction

Problem Solving: Research, investigate, analyze, interpret and resolve complex testing and compliance questions and or issues and provide expert advice to management on creative problem resolution, such as complex contribution allocation formulas and unique testing correction methods.

Interpersonal Skills: Communicate with account management clearly and concisely to identify and describe changes and that affect the plans testing and provide potential solutions.  Provide research and analytical support to account management in responding to auditor questions during audit season.

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