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Cash Balance and 401(k) Account Administrator
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 80-90 plans. Plan assignment will include a mix of defined contribution and cash balance plans. 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 –
- 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 external clients.
- 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
- 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 inquiries.
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
- Possess the necessary skills to administer a percentage of cash balance plans including but not limited to annual contribution calculation.
- Possess the necessary skills to administer a percentage of more complex defined contribution
- Ensure that appropriate compliance tests are accurate and completed within standards.
- Ensure Form 5500 and Summary Annual Report is accurate and completed within standards.
- 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.
Job Function 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 outcome.
- 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 needed.
- Provide guidance and training to less experienced account
- Assist in problem resolution as well as developing technical skills of others.
- Participate in meetings for the company, department and administration unit.
- Demonstrate leadership qualities on a consistent
- 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
- Actively supports the use of Salesforce by documenting pertinent conversations and emails with clients and others as applicable.
- Recognize and celebrate individual/team accomplishments.
- 6+ years experience in complex plan administration including but not limited to cash balance plans, defined contribution plans (sometimes in combination with a cash balance plan),
cross testing allocations and other unique plan designs.
- Attained 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 priorities.
- Interpret documents and resolve technical problems.
- Available to work overtime to cover peak work loads and other business needs.
knowledge of Microsoft Word and Excel.
- Demonstrated leadership abilities as part of a team.
- Demonstrated relational skills such as diplomacy, judgment, decision making and
- Demonstrated critical thinking abilities.
- 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 reasonable accommodation
- 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
Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.
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