Retirement Plan Operations Analyst

POSITION SUMMARY:

The Retirement Plan Operations Analyst assists the retirement plan administrator in monitoring the recordkeeping transactions for participants and employers. This may require investigation and correction of errors and performing periodic procedures required to maintain accurate recordkeeping. Assists Participants and Client Entities with recordkeeping issues and approves distributions and loan requests. Also provides a wide range of operational accounting, account analysis and data/report analytics.

SALARY RANGE and BENEFIT SUMMARY:

The salary range for this position is $65,000 to $80,000 per year depending on experience.

The company benefits include fully company paid health insurance, dental insurance, life insurance, long term disability insurance, a flex program, paid holidays, paid vacation, paid sick time, paid PTO and generous matching program for the retirement plans.

IDEAL CANDIDATE:

The ideal candidate is detail-oriented, analytical, and proactive, with the ability to interpret complex plan designs to evaluate transactions for accuracy. This individual is self-sufficient, is committed to doing things correctly the first time, and is quick to ask questions when they need help. They are comfortable coordinating across teams, working through multiple software systems, and managing competing priorities while meeting organizational deadlines. They are motivated by accuracy, continuous improvement, and delivering exceptional service.

ESSENTIAL JOB RESPONSIBILITIES:

·        Monitors and reviews accuracy of recordkeeping vendor regarding participant distributions, rollover withdrawals, record comparisons, and data entry verification.

• Reviews loan requests up to $50,000 and makes determination for approval or disapproval. Notifies employers of refinancing participants.

·        Researches historical data inquiries from staff members, participants and employers, and extracts information/policy-detail from historical records, electronic sources and hard copy.                                                                                                                                                                                                                                                                        

• Provides administrative support to Controller and the rest of the Operations team and assists with research, recordkeeping and information analytics.
• Coordinates and facilitates Participant and Entity requests for assistance with recordkeeping vendor and/or recordkeeping procedures, including inter-plan transfers.
• Forwards Participant requests to Client Services for assistance in transfers or account retention.
• Consults with Participants regarding withdrawal requests and/or future payment schedules, and employers regarding plan changes or implementations.

BEHAVIORS AND COMPETENCIES:

·        Teamwork/Relationship Building – Ability to work cooperatively with others in the accomplishment of joint tasks and common objectives. Involves understanding team dynamics, fostering collaboration, providing a tangible contribution and listening and responding to the input of others in a manner that creates an environment of mutual trust and respect.

·        Achievement Orientation – Consistently meets/exceeds the goals and objectives set by self and others. Explores ways to improve service and work in an efficient and cost-effective manner.

·        Customer Service Orientation – Dedication to meeting the expectations and requirements of internal and external customers. Establishes and maintains effective relationships with customers and gains their trust and respect.

·        Communication – Expressing one’s needs, wants, opinions and preferences without offending the sensitivities of others. Listening with objectivity and clarifying messages; giving and receiving feedback effectively. Asking questions proactively.

·        Problem Solving/Analytical Thinking – Ability to identify and define problems and create solutions. Looks beyond the obvious and doesn’t stop at the first answer. Ability to see the “big picture” and understand how the various parts of an organization fit together.

QUALIFICATIONS, KNOWLEDGE, & SKILLS REQUIRED:

·        Bachelor’s degree or equivalent work experience.

·        Three (3) years’ experience with recordkeeping and operational systems.

·        Payroll experience a plus

·        Retirement plan administration a plus

·        Knowledge of governmental pension plans and related Internal Revenue Service (IRS) regulations a plus.

·        Ability to work independently and in a team environment to solve problems with general guidance.

·        Accurate data entry, reporting skills, and information analysis.

·        Strong organizational skills, able to multitask and take initiative.

·        Detail oriented with the ability to understand how information fits into the big picture.

·        Basic knowledge of payroll and operational procedures.

·        Proficient with Windows, Microsoft Word, Excel, Outlook and Salesforce.

PHYSICAL REQUIREMENTS/WORKING CONDITIONS:

·        Light physical effort required by moving objects up to 20 pounds occasionally and/or up to ten (10) pounds frequently, moving boxes, files and furniture.

·        Normal office environment.

Note: This job description is not intended to be an exhaustive list of all duties, responsibilities, or qualifications associated with the job.