What are the responsibilities and job description for the Senior Manager, Annual & Additional Defined Contribution Testing position at Fidelity Investments?
Job Description
The Role
The Team
The Compliance Advisor role resides in Testing and Reporting Services (TRS) within Workplace Investing (WI). TRS provides and completes Employer Calculations and Additional Testing (ECAT), Plan Year End Summary Reporting, Minimum Coverage and Nondiscrimination Testing, Form 5500 completion and Audit Support for the plan’s year-end audit. The Compliance Advisor will provide regulatory support and guidance for TRS ECAT Associates and their associated Plan Sponsors. In this role, you will assist ECAT Associates with allocation and 3-year cycle testing general daily support, regulatory questions, and preparation for conversations with Plan Sponsors, legal counsel, and internal business partners surrounding regulatory requirements, results delivery and Compliance Consultant support. A small amount of production may be required
Certifications
Category:
Compliance
Most roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles.
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.
The Role
- Supporting internal (Associates, Compliance Consultants, Managing Directors, and Sales) and external (Plan Sponsors, Outside Legal Counsel, Advisors) business partners with employer calculations and additional testing and Regulatory knowledge and experiences.
- Educating clients regarding their special testing (General Test, Benefits Rights and Features Test, Average Benefit Test) results
- Leading the testing service team to find solutions when complex issues or errors arise.
- Assist in setting proper expectations for new clients (sales) and plan sponsor contacts
- Building the confidence of clients in Fidelity’s services by offering solutions to test failures
- Bachelor’s Degree Required
- 5 years of Defined Contribution client service experience required including consultation, ability to lead through escalated issues, provide sales support and assist in implementing services.
- 4 years of Defined Contribution nondiscrimination testing experience required
- ASPPA credentials - QKA, QPA preferred
- In-depth nondiscrimination testing experience
- Can review test results and efficiently gain understanding of a plan’s design
- Understanding of the Employee Plans Compliance Resolution System (EPCRS), and how to apply EPCRS rules to plan corrections
- Can discuss and explain complex regulatory topics with any audience, tailoring your delivery to the audience
- Collaborate with Plan Sponsors and internal business partners to build consensus
- Multitask client work, internal project work, and other responsibilities
- Strong organization skills and keep detailed records of your work
- Can manage at-risk client relationships
- Research topics independently and deliver solutions to complex regulatory issues
- Communicate effectively, work well in a team environment, and possess good presentation skills.
- Possess great problem-solving skills including the ability to manage escalated issues.
- Have the ability to negotiate and influence.
The Team
The Compliance Advisor role resides in Testing and Reporting Services (TRS) within Workplace Investing (WI). TRS provides and completes Employer Calculations and Additional Testing (ECAT), Plan Year End Summary Reporting, Minimum Coverage and Nondiscrimination Testing, Form 5500 completion and Audit Support for the plan’s year-end audit. The Compliance Advisor will provide regulatory support and guidance for TRS ECAT Associates and their associated Plan Sponsors. In this role, you will assist ECAT Associates with allocation and 3-year cycle testing general daily support, regulatory questions, and preparation for conversations with Plan Sponsors, legal counsel, and internal business partners surrounding regulatory requirements, results delivery and Compliance Consultant support. A small amount of production may be required
Certifications
Category:
Compliance
Most roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles.
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.