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Retirement Plan Services Officer

Commerce National Bank

in Fort Worth, TX / Lubbock, TX

Commerce National Bank

 

JOB SUMMARY:   

To manage and fulfill the needs and goals of Retirement Plan Services accounts as established by the responsibilities accepted by the Trust Department as trustee, agent or custodian, and each client’s specific characteristics relative to the account.

JOB SPECIFICATIONS:

Required

  • Bachelors degree

  • 5+ years retirement plan, trust and fiduciary services administration experience with emphasis on profit sharing and employee stock ownership plans

  • 2+ years of managerial experience or equivalent training

  • Knowledge of accounting practices and principles in order to effectively evaluate problems with trust statement activity and plan information

  • Comprehensive knowledge of retirement plans and institutional accounts; ERISA and IRS regulations and applicable rules and regulations covering retirement plans and other accounts

  • Exceptional client service experience

  • Excellent verbal and written communication and presentation skills required

  • Proven sales and business development experience

  • Ability to understand and explain technical information to a variety of audiences

  • Excellent interpersonal, negotiation, decision-making and multitasking skills are required

  • Must be self-motivated, detail oriented and demonstrate problem solving ability

  • Strong analytical skills with ability to provide improvement recommendations

  • Willingness to travel (0-25%)

Desired

  • Advanced degree

  • Credentials such as QPA, QKA, AIF or CPC

  • Non-qualified plan experience

  • Knowledge of trust systems

JOB DUTIES AND RESPONSIBILITIES:

Retirement Plan Services Relationship Management (30%):

  • Deliver consultative retirement plan services to assigned clients related to plan design, investment policy statements, and fiduciary oversight

  • Provide managerial assistance for trust and retirement plan services

  • Provide annual Client Service Reviews to assigned clients.Ensure all required documents are included in the review and delivered to file

  • Conduct quarterly visits with assigned clients regarding industry trends, changes in laws or regulations, and any other items which may affect their plan.This may include attending board or committee meetings.

  • Plan and conduct employee education meetings for assigned clients, working with Retirement Plan Services Assistant as appropriate

  • Conduct basic research in response to client plan or trust design or administration questions

Retirement Plan Services Administration and Compliance (35%):

  • For assigned clients as well as those assigned to other Trust Officers, coordinate and oversee timely compliance with the following:

  • Preparation and review of annual Plan accounting

  • Governmental filings

  • Reconciliation of contributions

  • Distribution processing

  • Coordinate annual self-audit of employee benefit files

  • Maintain all Plan Documents and ancillary documents

  • Maintain all administrative contracts

  • Ensure all administrative procedures are in compliance with Plan Documents and administrative contracts

  • Ensure all required disclosures comply with the Plan terms and are sent to Plan participants on time

  • Ensure all required service provider disclosures are received by the Plans on time

  • Ensure all Plan policies are followed; if policy is breached, ensure remedied timely

  • Ensure all Plan delegations are followed appropriately

  • Coordinate responses to Department of Labor or Internal Revenue Service plan audits

  • Ensure all governing laws and local regulations are followed by Plans

  • Maintain quarterly and annual compliance ticklers for plans

Trust & Retirement Plan Services Business Development (35%):

  • Prospect and develop new business in both existing relationships as well as new opportunities.

  • Work with team members to plan and monitor sales activities to achieve established annual sales targets.

  • Establish and maintain ongoing relationships with Vice Presidents and other calling officers with a common goal of increasing the organization’s share of trust and retirement plan services as well as visibility of our products and services through proactive business development.

  • Demonstrate excellent listening skills to determine the type of sales support necessary to accomplish the objective, adding value to the products, service and sales support delivered.

  • Meet with and educate partners to position the value of our capabilities.

  • Assess new business opportunities on a consistent basis, including updating pipeline and opportunity tracking reports, responding to new business inquiries and requests for proposals, and maintaining focus lists.

 

This position can office in either Fort Worth or Lubbock, Texas. 

 

Lubbock National Bank/Commerce National Bank provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, gender identity or expression, national origin, age, disability, genetic information, marital status, amnesty, or status as a covered veteran in accordance with applicable federal, state and local laws.

 

How to Apply

Qualified applicants can apply online at https://www.commercenb.com/careers.php, where you can also find a complete listing of any and all positions we currently have open.

 

Visit our web site.


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