Defined Contribution Regulatory Testing / Reporting Specialist
Bank of America
in Pennington NJ
This position is responsible for raising the level of service provided to clients through proactive consulting and effective problem resolution, and by raising the overall level of technical expertise of the
firm. Participating in prospective and house client visits and presentations is a key deliverable of this position. Assessing how new regulations will impact our clients and how to incorporate them into our processes and plan design by acting
as a Subject Matter Expert in systems development are also required. Comprehensive knowledge of IRC and ERISA necessary. This position will be responsible for nondiscrimination testing and Form 5500 support. In addition this position may
include ADP/ACP testing, Coverage testing under IRC 410(b), and General Nondiscrimination testing under IRC 401(a)(4) using Relius Administration.
Some of the key tasks include, but are not limited to:
consulting calls with clients on technical issues. A significant number of these calls are with “challenging” clients who have a history of servicing issues, and often the interaction is with higher level contacts within the organization
than the day to day contact.
Conducting Nondiscrimination testing for selected clients. Entails becoming familiar with in-house nondiscrimination testing systems, as well as in depth knowledge of applicable laws and regulations.
Also involves Advanced testing on Relius Administration software.
Resolving technical issues. Improves client experience and minimizes exposure through timely responses to requests for assistance and resolution of servicing
Training. Conducts training seminars for the firm and branch office staff on topics that affect all aspects of retirement plan servicing.
Special Projects. Manages a variety of projects that enhance the quality of
service provided to our clients.
Support the Compliance Teams, Client Services, Outbound and Inbound processing teams by providing answers to technical questions, participating on client calls, reviewing NonDiscrimination Tests, Forms 5500
and 8955-SSA, and answering questions regarding Plan Documents.
Participate in weekly meetings including Regulatory, special project, communications and staff meetings.
5 – 10
years experience in the Compliance industry
401k and Trust Operation knowledge is required
Excellent Oral and Written Communication Skills
Excellent knowledge of Microsoft Excel
Ability to work in a fast paced
Be able to effectively manage multiple priority tasks
Working knowledge of Sungard’s Relius Administration software
ASPPA Designation or similar industry