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Retirement & Institutional Services Plan Analyst
in Greenville SC / Raleigh NC / Greensboro NC
Job Profile Summary
Administer assigned daily/balance forward account and ensure proper flow of work in the most accurate and efficient manner.
Essential Duties and
Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
Perform administration functions on assigned accounts using the advice, counsel, and direction of the Employee Benefit Operations (EBO) Administration Team Leader, EBO Regional Recordkeeping Manager, and EBO Administration Manager. Interpret legal
documents and current Internal Revenue Service (IRS) code and Employee Retirement Income Security Act (ERISA) regulations. Keep abreast of appropriate tax laws, regulations, trends, and issues that may affect plan administration. Provide quality control
for assigned team responsibilities.
Inform Administration Team Leader, Regional Recordkeeping Manager, and EB Administration Manager of pertinent account issues.
Provide ongoing communication with Plan Sponsor, Consultant, and Team
Respond to all voice mail and e-mail communications in accordance with BB&T’s Perfect Client Experience.
Perform annual compliance review for each account and work with Consultants to update plans as needed. Maintain
current account synopsis for each plan assigned.
Ensure that filing is kept current for assigned plans and purged in accordance with Office Practice Manual guidelines. Maintain all required work plans and processing checklists
the transfer of existing plan assets and participant account records from the prior Trustee/Custodian/Record keeper to BB&T’s trust and recordkeeping systems.
Review new account openings for accuracy following approved checklists and
ensure accounts coded for modeling are coded and working properly.
Review and process data received from plan sponsor using BB&T Information Security guidelines.
Review trial balances/cash sheets daily for accuracy and clear
overdrafts within required time frame of 3 business days. Key security trades through Trade Order Processing and wire cash/assets into or out of accounts.
Submit fees timely and accurately to appropriate personnel to generate fee bills and monitor
accounts to see that fees are collected.
Participate in departmental training.
Prepare and/or review, in a timely manner, Form 5500 for the plan or gather data for the preparation of Form 5500. Promptly respond to any IRS notices
regarding Form 5500 and assist in preparation of other required regulatory filings.
Generate allocation reports, participant statements, and testing within the required guidelines.
Advise Consultant(s) of any action required by the
client; perform assigned quality control reviews for all reporting prior to delivery to client.
Balance trust accounts and prepare financial statements for assigned accounts.
Ensure accounts are closed timely and correctly in accordance
with approved checklists; ensure final fee billing has been collected prior to release of assets and records.
Coordinate the transfer of plan assets and participant account records to successor Trustee/Custodian/Record keeper from BB&T’s
trust and recordkeeping systems.
Adhere to internal processes, procedures and policies to ensure efficiency, quality and profitability; make recommendations for process improvement.
Participate in Sales Proposal meetings, Request for
Proposal (RFP) and in-person client meetings as needed.
Participate in internal and external audit inquiries as well as regulatory inspections as required.
Required Skills and Competencies:
listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Bachelor’s degree or equivalent
education and related training
Two years of relevant experience
Ability to communicate effectively with team members and clients
Ability to do detailed work and to work independently
Ability to work under pressure and
meet critical deadlines
Ability to provide excellent customer service to external/internal clients
Demonstrated proficiency in basic computer applications such as Microsoft Office software products
Ability to travel, occasionally
Knowledge of ERISA laws and regulations
Working knowledge of internal software applications
Ability to act as mentor to new team members
located in Raleigh, NC or Greensboro, NC or Greenville, SC