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ESOP Retirement Account Administrator, Senior
Help foster a cohesive service team by directing workflow, supporting strong communication and displaying good judgment and leadership to ensure the proper administration of all plans. Responsible for client
service, compliance and Form 5500 reporting of an assigned group of retirement plans consisting of more complex plans, typically 60-70 plans. Plan assignment may include employee stock ownership plans (ESOP). Is regarded as a technical expert and is a
resource to the department for research and resolution of complex issues and regulatory changes.
Job Function 1: Client Service – 40%
- Proactively manage
assigned client relationships to achieve or exceed client service satisfaction and Alerus Retirement and Benefits (ARB) retention standards.
- Develop and maintain positive working relationships and open lines of communication with internal and
- Keep Manager/Supervisor informed of sensitive issues and proactively work with Business Advisor, Retirement Specialist or Retirement Specialist (BARS/RS) to retain key clients and assets.
- Involve Manager/Supervisor as
needed to resolve technical, service, and compliance issues to ensure client satisfaction without jeopardizing regulatory requirements and service standards.
- Assist in client feedback efforts and work with BARS/RS to identify and resolve any
service issues as well as meet long-term client needs.
- Meet service standards. Proactively notify Manager/Supervisor and client (as appropriate) if standards will not be met.
- Timely response to internal and external
Job Function 2: Compliance and Form 5500 Reporting - 40%
- Monitor receipt of client’s census information to prioritize completion of compliance tests and/or Form 5500 reporting for an
assigned set of plans.
- Understand and interpret plan document and contract provisions and apply experience and judgment to situational problem resolution. Work with Manager/Supervisor and/or BARS if needed.
- If assigned ESOP plans, possess
the necessary skills to administer ESOPs which includes an understanding of the valuation process, updating participant records and delivery of the year-end annual valuation report and participant statements.
- Possess the necessary skills to
administer a percentage of more complex defined contribution plans.
- Ensure that appropriate compliance tests are accurate and completed within standards.
- Ensure Form 5500 and Summary Annual Report is accurate and completed within
- Identify changes/amendments needed to documents due to client requests.
- Instruct and provide guidance to co-workers on a variety of compliance issues and situations.
3: Leadership and Engagement – 20%
- Actively engage in the success of ARB and Alerus, promoting and supporting new and ongoing initiatives with positive active team involvement resulting in a successful
- Participate in projects to improve the products and services offered by ARB, including project groups tasked with developing enhanced procedures or policies.
- Work independently and request that the Manager/Supervisor review work as
- Provide guidance and training to less experienced account administrators.
- Assist in problem resolution as well as developing technical skills of others.
- Participate in meetings for the company, department and administration
- Demonstrate leadership qualities on a consistent basis.
- Treat all co-workers with professionalism.
- Support and promote communication within the service team through direct communication, Salesforce and other available tools as
needed in order to build strong internal relationships.
- Actively supports the use of Salesforce by documenting pertinent conversations and emails with clients and others as applicable.
- Recognize and celebrate individual/team
- 4+ years experience in complex defined contribution plan administration such as professional employer organization plans, multiple
employer plans, non-qualified plans, cross testing allocations and other unique plan designs.
- Successful completion of ASPPA’s Retirement Plan Fundamentals (RPF) or equivalent.
- Possess or working towards attaining ASPPA’s QKA
certification or equivalent.
- Excellent written/oral communication, organization, and client service skills required.
- Maintain professional working relationships with internal and external clients.
- Work independently and set
- Interpret documents and resolve technical problems.
- Available to work overtime to cover peak work loads and other business needs.
- Basic knowledge of Microsoft Word and Excel.
- Demonstrated leadership abilities as part of a team.
- Demonstrated relational skills such as diplomacy, judgment, decision making and discretion.
- Demonstrated critical thinking
- Initiative, creativity and energetic active engagement in all work responsibilities.
• Multi-task, prioritize workflow of self and others and coordinate activity as an effective team member to meet deadlines and make
effective decisions under pressure.
- Established communication, presentation and organizational skills.
• Demonstrated professional business skills and demeanor.
- Demonstrated ability to identify and problem solve complex
situations. Apply judgment with respect to high level business impact and risk.
- Proven ability to work with detailed technical knowledge of all types of retirement plans.
Physical Demands - Must be met with or without a
- Extended periods of time sitting at a desk and using office equipment.
- Requires ability to use telephone for client contact and conference calls.
- Ability to operate a personal computer/laptop for
approximately 8 hours per day.
- Extended time is spent reviewing physical and electronic documents.
- The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl.
Vision abilities required by this job include close vision.
- Periodically, may also do light lifting of supplies and materials which weighs in at approximately 20 lbs.
- Will spend most of time in an indoor environment.
Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.
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