VP of Compliance
Transitions Group
Compliance Specialist III – TPA/DPS
NBT Bank
full-time
Posted on:
Location Type: Remote
Location: Remote • Illinois, Montana, New York, Pennsylvania • 🇺🇸 United States
Visit company websiteSalary
💰 $69,765 - $93,042 per year
Job Level
Mid-LevelSenior
About the role
- Prepare compliance tests and year end packages including: review of plan eligibility requirements and determination of eligible participants; review of plan allocation conditions and calculation of requested contributions and forfeiture allocations; ADP/ACP nondiscrimination, 415 annual additions, 416 Top Heavy, and 410(b) coverage tests; and conduct self and peer review as needed.
- Prepare, review, and publish Form 5500, Form 5330, Form 8955-SSA and other regulatory forms required.
- Reconcile and prepare the Form 5500 and all applicable schedules for large filer plans and assist Plan Consultants in answering any auditor questions.
- Maintain a working knowledge of moderate complexity plans, including but not limited to dual eligibility, integrated profit sharing allocations, ADP/ACP testing failures, 403(b), Davis Bacon, MEP and PEP plans.
- Research and resolve testing and 5500 issues and questions, which may include collaboration with other departments as needed. Assist and mentor other team members with complex issues and questions. Work with Managers to develop processes and implement best practices that ensure a set standard of service.
- Prepare asset reconciliation and research differences as needed for plan valuation, testing and reporting requirements.
- Prepare outside asset and balance forward earnings allocations and participant validations (monthly, quarterly, annually) as needed.
- Prepare Plan Documents as needed, including but not limited to Restatements, Amendments, SPDs, SMMs and Notices.
- Assist with QDRO allocations and corrective earnings calculations as needed.
- Perform other duties as assigned.
Requirements
- Associates degree and 5+ years related experience or an equivalent combination of education and experience.
- ASPPA Qualified 401(k) Administrator (QKA) designation required.
- Ability to read and interpret documents such as retirement adoption agreements, program manuals, and government instructions and guidance.
- Ability to write reports and emails/correspondence, and work effectively with employees across the company.
- Advanced math skills including the ability to apply concepts such as fractions, percentages, and ratios.
- Experience with Microsoft programs including Excel and Word.
- Ability to work independently and balance multiple tasks.
Benefits
- Generous Paid Time Off : At least 22 days annually, prorated in the year of hire.
- Parental Leave : Six weeks of paid leave at 100% of your salary.
- Comprehensive Medical Coverage : Includes employer contributions to HSA for High Deductible Health Plan participants.
- Dental and Vision Coverage : Ensuring your overall health and well-being.
- Flexible Spending Accounts : For healthcare and dependent care expenses.
- Employer-Paid Disability Coverage : Both short-term and long-term, with an option to purchase additional long-term coverage.
- Life Insurance : Employer-paid basic life insurance, with an option to purchase supplemental coverage.
- Voluntary Benefits : Including hospital, accident, and critical illness coverage.
- Retirement Plans: Benefit from a 401(k) plan with employer matching, an optional Roth 401(k), and a pension plan to help secure your future.
- Adoption Assistance : Supporting your growing family.
- Tuition Reimbursement : Invest in your education and career growth.
- Employee Assistance Program (EAP) : Access to support and resources.
- Financial and Banking Services : Various benefits and financial planning assistance .
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard skills
compliance testsADP/ACP nondiscrimination testing415 annual additions416 Top Heavy testing410(b) coverage testsForm 5500 preparationForm 5330 preparationForm 8955-SSA preparationasset reconciliationQDRO allocations
Soft skills
ability to read and interpret documentsreport writingeffective communicationmentoringcollaborationindependent worktask balancingproblem solvingattention to detailprocess development
Certifications
ASPPA Qualified 401(k) Administrator (QKA)
