Compliance Consultant

Essential Functions

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• Prepares and/or reviews non-discrimination tests, top heavy tests, coverage tests, 415 annual addition tests on the largest and/or most technically complex plans - includes New Comparability plans, Multiple Employer Plan and “high profile” plans as well as additional compliance testing that must be done such as 401(a)4. May also perform and/or review more complex contribution calculations.
• Ensures that assigned plans remain tax qualified by meeting all IRS and DOL reporting and testing requirements which includes reporting on all accounting and financial activity for the plan.
• Maintains client database and enters changes into recordkeeping software. Completes testing and ensures quality control audit is performed.
• Submits financial reports and Form 5500 package for review, correction, approval and submission to client and governing agency.
• Allocates employer profit sharing, matching and/or money purchase pension contributions based upon plan provisions and submit to plan sponsor for approval.
• Works with administration team to produce distributions or allocations of contributions or forfeitures based upon client approval. Ensures deadlines are identified and met.
• Reviews legal plan document and all employee data and determines participant eligibility.
• Reconciles and/or reviews all financial activity and prepares government forms for the largest and most technically complex plans.
• Consults on, recommends and implements resolutions to client issues, satisfaction, response 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.
• Research new issues to determine their impact on plan qualification status and communicates with supervisor on daily processing issues.
• Serves as technical expert to compliance analysts and provides resolutions to support business.
• Coordinates year end processing issues with Relationship Managers/Client Service Managers. Also assists with any client calls.
• Leads process improvement projects deemed necessary after annual review of internal procedures by Compliance Manager incorporating any upcoming tax law updates.
• Assists in the training of new processes.
• Writes reports, business correspondence, and procedure manuals; effectively presents information and responds to questions from groups of managers, clients, customers, and the general public.
• Assists less experienced Compliance Analysts with day-to-day functions.
• Performs other duties, as assigned, that are related to the essential operation of the department.
• Applies advanced mathematical concepts utilizing current spreadsheet and accounting database software programs as well as completes detailed financial reconciliations and data analysis.
• Utilizes technical skills and available tools to solve compliance issues.
• Consistently meets and/or exceeds performance expectations with the ability to work under pressure in a very fast paced environment
• Focuses on learning in everyday activities and events
• Collaborates with and openly shares knowledge with colleagues
• Regular, reliable, and punctual attendance

Management Responsibilities: None

Required Education, Experience and Certificates, Licenses, Registrations

• 8 years of progressive plan experience in third party administration environment required.
• Successful completion of the ASPPA (RPF-1 & RPF-2 exams) designation and demonstrates knowledge in areas of controlled groups, cross testing, catch-up contributions and other current technical topics.
• Advanced knowledge of retirement plan tax lawn (ERISA) including Revenue Code section 401(a)(4), 416, 414(b), (c), (m), (n), as well as others.
• Strong MS Office skills to include Excel.

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

• Bachelor’s degree in a business-related field or industry experience.
• QKA designation a plus.
• ASC preferred.

Competencies

• Independent
• Diplomatic
• Creative Problem Solver
• Integrity
• Analytical Thinker
• Resourceful
• Team Player
• Utilizes Sound Judgment
• Results Driven
• Thoroughness
• Exhibits Personal Credibility
• Written and Oral Communication Skills
• Client Service Focused

TRAVEL: Less than 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.