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ESOP Manager

Newport, an Ascensus Company

in Remote

Newport, an Ascensus company, helps employers offer their associates a more secure financial future through retirement plans, insurance and consulting services. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. As a provider and partner, Newport is independent, experienced, and responsive.

Job Summary: Provides client support with all aspects of engagement to include review of administration, related testing, government forms preparation and consulting for highly complex ESOP Clients. May also provide technical training.

Essential Functions Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.

• Reviews allocations and testing related to ESOP book of business.
• Client relationship manager on book of business.
• Reviews legal plan document and provides guidance to plan sponsors.
• Coordinates plan distribution process including schedules, forms, and summarization of distribution directives. 
• Coordinates year end processing issues, plan financials and shares release calculations as well as assistance with client calls/communications.
• Leads process improvement projects deemed necessary after annual review of internal procedures, incorporating any upcoming tax law updates
• Consults on, recommends, and implements resolutions to client issues, satisfaction, responses and any other items necessary to assure customer loyalty.
• Maintains current awareness and understanding of legislative changes, IRS rulings, and expert opinions related to the processing of retirement plans.
• Researches new issues to determine their impact on plan qualification status
• Assists in training of new processes.
• Regular, reliable and punctual attendance.

Management Responsibilities

• Prior management experience preferred

Required Education, Experience and Certificates, Licenses, Registrations

• Bachelor’s degree in business related field or combination of education and industry experience
• Minimum of 5-7 years of ESOP experience in third party administration environment including experience in preparing, reviewing, and explaining qualified plan compliance testing and government forms filing
• Advanced level of Excel
• Proven ability to utilize technical skills and available tools to solve compliance issues.
• Advanced knowledge of retirement plan tax law (ERISA) including Revenue Code sections 401, 401(a)(4), 416, 414(b), (c), (m), (n), 401(a)(28), 409(n), 409(p) as well as others.
• Strong mathematical aptitude, specifically detailed financial reconciliation, and data analysis.

Preferred (but not required) education or skills for this role are

• ASPPA or CEBS preferred
• Experience in Relius a plus

Competencies

• Independent
• Diplomatic
• Creative Problem Solver
• Integrity
• Analytical Thinker
• Resourceful
• Team Player
• Sound Judgment
• Collaboration
• Results Driven
• Personal Credibility
• Attention to Detail
• Organization and Planning
• Time Management
• Written and Oral Communication

Travel: Up to 5%.

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

At Ascensus, we aspire to make a difference for others. We are a technology-enabled services company that helps people save for retirement, education, and healthcare through our network of institutional, financial advisor, and state partners. Our culture is guided by sound principles, is committed to high standards, operates with transparency, and welcomes diversity—housed within our Core Values: People Matter. Quality First. Integrity Always.®

As a leading independent recordkeeping services partner, retirement plan third-party administrator, and government savings facilitator, we aim to hire associates who find pride in going to work every day knowing that they help more than 12 million people save for what matters.

Ascensus provides equal employment opportunities to all associates and applicants for employment without regard to ancestry, race, color, religion, sex, (including pregnancy, childbirth, breastfeeding and/or related medical conditions), gender, gender identity, gender expression, national origin, age, physical or mental disability, medical condition (including cancer and genetic characteristics), marital status, military or veteran status, genetic information, sexual orientation, criminal conviction record or any other protected category in accordance with applicable federal, state, or local laws (“Protected Status”). 

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