Retirement Plan Consultant

General Description:

With minimal supervision, the Consultant demonstrates technical expertise in managing and retaining assigned clients’ retirement plan business. The Consultant provides exceptional customer service and works effectively with internal teams/resources (i.e. Administrators, Account Managers, Legal, IAS, etc.) and external vendors (i.e. Schwab Retirement Technologies) to maintain a successful relationship with clients and to provide overall recordkeeping and consulting services for both basic and complex retirement plans.

Responsibilities:

1. Responsible for all aspects of recordkeeping for client plans to ensure accurate processing in accordance with department service standards/deadlines and plan documents, including:
1. Train Administrators on plan specific rules, industry related regulations and processes to gain assistance with plan recordkeeping tasks.
2. Initiate/process trades.
3. Process payroll data files including review of data and client correspondence; monitor plan forfeitures.
4. Reconcile asset balances (trust and participant accounts) including cash position and resolve discrepancies daily.
5. Post earnings as necessary & run/monitor “unposted” report.
6. Ensure compliance with plan document & IRS/DOL regulations.
7. Participate in peer review process for recordkeeping transactional activity to ensure accuracy.
8. Maintain accurate and timely recording of transactions and work logs.
2. Produce quarterly valuations (participant statements, client reports, etc.) according to USICG standards, including:
1. Ensure valuation checklists are complete and peer review is done according to SSAE18 standards.
2. Resolve any variance upon occurrence ensuring no outstanding valuation issues within current quarter.
3. Prepare meaningful executive summary letter – highlight current issues.
4. Ensure accuracy and timely delivery of trust reporting for plans with CSTB as trustee.
3. Correspond with clients, Team Leaders & Account Managers in response to issues, including preparation for and participation in team meetings, researching questions and plan document provisions, consulting on plan issues, assisting with billing questions, confirming transactions, etc.
4. Main day-to-day client contact for inquiries on assigned plans. Responsible for logging in daily to assigned participant call service lines for all available time and answering participant calls. Respond to all client or participant calls/emails within 4 business hours.
5. Coordinate with compliance team regarding preparation of IRS Form 5500/SAR, audit packages, RMDs, projected/final compliance tests, etc. for assigned plans, including:
1. Gather and reconcile required data; provide to compliance team in a timely manner.
2. Manage deadlines and complete assigned portions of checklists.
3. Communicate with clients/auditors as necessary to respond to questions or requests for information.
4. Review results, develop corrective actions, present results/reports to clients.
6. Process plan-level fees per service agreement (basis points, loan fees, etc.), timely updates to required annual fee disclosure notices and update fee tracking log; identify projects requiring additional billing and report them monthly on Special Billings Projects worksheets.
7. Assist with training newer employees on DC department procedures, systems, plan corrections, etc.
8. Complete special projects as requested by clients or DC department.
9. Assist with more complex tasks associated with conversions of new business; process fund additions/changes; assist with de-conversion of assigned plans when applicable.

Knowledge, Skills and Abilities:

1. Bachelor’s or Associate’s degree in mathematics, Business, Finance or Accounting preferred.
2. 3-5 or more years related business experience preferred; ASPPA exam completion/certification preferred.
3. 2+ years of experience working with SRT or similar systems such as Relius, Omni, Datair, ASC, or FT Williams.
4. Strong computer skills - knowledge of Windows environment, including Word & Excel.
5. Excellent mathematical aptitude. Detailed and organized. Able to multi-task.
6. Ability to meet all client deliverables requiring extended working hours during peak work periods.
7. Excellent communication, accounting and interpersonal skills.
8. Ability to creatively and proactively problem-solve.
9. Ability to stay organized and focused in a busy environment.