Job Description
Sr. Compliance Consultant
Position: Sr. Compliance Consultant
*Remote work in AL, CO, CT, FL, IA, IL, KY, MA, MD, ME, MI, MN, MS, NC, NH, NJ, NY, PA, RI, TN, TX, VA, VT. (No PT time zone)*
Job Description:
The Senior Compliance Consultant will play a critical behind-the-scenes role in managing an assigned book of 300-350 defined contribution (DC) plans, including cross-tested and new comparability plans. This role is focused on ensuring compliance by performing annual testing, asset valuations, and contribution calculations, as well as preparing required IRS filings.
Working closely with a direct Team Leader, the Senior Compliance Consultant will collaborate with a team of Relationship Managers, who handle daily client communications; Compliance Analysts, who assist with administrative tasks; and other internal partners.
Essential Duties and Responsibilities:
- Oversee and delegate the loading of Census and Asset data to Compliance Analysts in FT William after conducting a preliminary review for accuracy and completeness.
- Review and validate the work of Compliance Analysts and other team members to ensure accurate application of plan provisions as outlined in the plan document.
- Examine and approve completed Form 5500s, 5330s, and SSAs to ensure compliance with regulatory requirements.
- Prepare and review the reconciliation of assets and participant accounts to maintain financial accuracy.
- Identify operational errors and compliance issues, determine necessary corrections, and provide clear instructions to the appropriate Relationship Manager or team member for resolution.
Review and oversee the upload of vesting information to vendor websites, ensuring data accuracy and integrity. - Analyze and finalize the Valuation Package, preparing comprehensive summary notes for the Relationship Manager to communicate with plan sponsors.
- Identify Required Minimum Distributions (RMDs) and coordinate with the Relationship Manager to ensure timely participant payments.
- Track and manage plan projects and intricacies daily within Pension Pro, maintaining detailed notes for reference.
- Calculate employer contributions and true-up contributions with precision.
- Mentor, train, and support Compliance Analysts, fostering professional development and knowledge growth.
- Collaborate with Team Leaders to manage a diverse book of business, including high-profile, complex clients such as MEPs, GOPs, and Controlled Groups.
- Execute additional tasks as assigned to support team efficiency and compliance objectives.
Experience and Certifications Required:
- 7 or more years of progressive-related experience in retirement plan compliance.
- Demonstrated mastery of all duties and skills noted in the Compliance Consultant job description.
- Preferred Bachelor's Degree in accounting, finance, or related field.
- Experience using FT William, Pension Pro, and other retirement plan verification and calculation software platforms is required.
- Comprehensive knowledge and understanding of retirement plans and record-keeping platforms.
Skills Required:
- Strong verbal and written communication skills using clear and grammatically correct language.
- The ability to solve problems, be proactive, and demonstrate initiative.
- Robust time management and organizational skills with the ability to multi-task required.
- Ability to work both independently and in a collaborative team environment.
- Superb attention to detail with the ability to meet deadlines.
- Stay current and informed on changes to retirement plan regulations.
Benefits:
- A competitive salary and 6% annual target bonus.
- A comprehensive health insurance plan that covers medical, dental, and vision care.
- Supplemental Insurance with Reliance Standard Life Insurance Company.
- 3% Safe Harbor Non-Elective QACA retirement plan with Transamerica.
- 11 paid holidays – we follow the NYSE holiday schedule.
- Company paid professional membership fees in NIPA and ASPPA and test fees covered by Compass.
- PTO accrued monthly equivalent to 4 weeks/year.
- A culture of collaboration, innovation, and diversity.
Location
NH