What are the responsibilities and job description for the Director - Retirement Plan Compliance position at Shepherd Financial, LLC?
Description
About Shepherd Financial
Shepherd Financial is an independent firm, utilizing a thorough and highly efficient team approach to retirement plan consulting and wealth management. Our mission is helping people and companies thrive through empowered financial solutions. We implement a holistic view of individual wealth management, creating strategies to help our clients grow, protect, and transfer their assets. Our financial wellness programs enable retirement plan participants to prepare and retire on their terms, while our proven process provides consistent engagement, encouragement, and helpful resources to instill confidence and effectively transform financial behavior. Our vision is to grow in a meaningful way, becoming a nationally recognized name as a trusted financial partner and industry leader.
While we are proud of the work we do, it is clearly fueled by the team we have built. It is evident our team structure and environment set us apart in this industry. Each Shepherd Financial team member is invested in the well-being of others, offering support and assistance in any way possible. We genuinely care for one another, and that ultimately extends to every client and participant we serve.
Our Core Values
Integrity
We thoughtfully serve our clients and one another with trusted, dedicated, and highly responsive care.
Service
We regularly and generously share our time, expertise, and money to positively impact the well-being of our clients, community, and one another.
Empathy
We genuinely value people, honor their unique experiences and capabilities, and create inclusive, collaborative environments.
Innovation
We are engaged and passionately curious, generating creative and flexible solutions for our clients and team.
Quality
We provide consistent service and resources, offering unmatched value and accountability to our clients and the financial industry.
Growth
We intentionally seek opportunities to learn, develop, and flourish, emphasizing individual and team health.
Position Description & Objectives
The Director - Retirement Plan Compliance (DRPC) is responsible for the oversight of ERISA- and compliance-related issues within the Shepherd Financial retirement plan book of business. This position is critical to the success and accuracy of our client service and requires acute attention to detail. The ability to learn and work independently is essential to your success in this role.
Core Responsibilities
Position Expectations
About Shepherd Financial
Shepherd Financial is an independent firm, utilizing a thorough and highly efficient team approach to retirement plan consulting and wealth management. Our mission is helping people and companies thrive through empowered financial solutions. We implement a holistic view of individual wealth management, creating strategies to help our clients grow, protect, and transfer their assets. Our financial wellness programs enable retirement plan participants to prepare and retire on their terms, while our proven process provides consistent engagement, encouragement, and helpful resources to instill confidence and effectively transform financial behavior. Our vision is to grow in a meaningful way, becoming a nationally recognized name as a trusted financial partner and industry leader.
While we are proud of the work we do, it is clearly fueled by the team we have built. It is evident our team structure and environment set us apart in this industry. Each Shepherd Financial team member is invested in the well-being of others, offering support and assistance in any way possible. We genuinely care for one another, and that ultimately extends to every client and participant we serve.
Our Core Values
Integrity
We thoughtfully serve our clients and one another with trusted, dedicated, and highly responsive care.
Service
We regularly and generously share our time, expertise, and money to positively impact the well-being of our clients, community, and one another.
Empathy
We genuinely value people, honor their unique experiences and capabilities, and create inclusive, collaborative environments.
Innovation
We are engaged and passionately curious, generating creative and flexible solutions for our clients and team.
Quality
We provide consistent service and resources, offering unmatched value and accountability to our clients and the financial industry.
Growth
We intentionally seek opportunities to learn, develop, and flourish, emphasizing individual and team health.
Position Description & Objectives
The Director - Retirement Plan Compliance (DRPC) is responsible for the oversight of ERISA- and compliance-related issues within the Shepherd Financial retirement plan book of business. This position is critical to the success and accuracy of our client service and requires acute attention to detail. The ability to learn and work independently is essential to your success in this role.
Core Responsibilities
- Closely assist the President - Retirement Plans (PRP) and Client Relationship Consultants (CRCs) with the management of client relationships by responding to client needs, anticipating issues, and proactively providing solutions
- Provide internal support for both existing and new client relationships.
- Identify and resolve compliance issues related to plan operations, including plan errors and corrective actions under IRS and DOL correction programs.
- Effectively implement available resources to resolve a variety of issues, including DOL and IRS audit support, and plan or contract conversions or terminations.
- Promote client retention and identify opportunities to strengthen client relationships through timely, high-quality service.
- Provide consultation regarding plan mergers and acquisitions.
- Oversee retirement plan compliance-related matters.
- Conduct exhaustive plan document and amendment reviews.
- Review compliance testing results and provide calculations, consultation, and strategies for improvement.
- Create and maintain templates to assist clients with common compliance issues, including missed deferrals, voluntary corrections, filings, etc.
- Maintain comprehensive and accurate records, documents, and reports.
- Provide consultation to clients, the PRP, and CRCs for plan design changes.
- Provide training and guidance to internal teams and clients on compliance requirements, best practices, and updates to regulations.
- Cultivate strong partnerships with both clients and vendors.
- Increase Shepherd Financial brand awareness in the retirement marketplace.
- Remain current with retirement plan industry trends, including the impact of regulatory changes.
Position Expectations
- An undergraduate degree and relevant industry designations
- A proficiency in Microsoft Word, Excel, and PowerPoint
- Compliance with Shepherd Financial’s internal policies, including the Work-From-Home Policy and Continuing Education Repayment Program
- Begin each business day no later than 8:30 am
- Weekly attendance at the retirement plan team meeting on Mondays at 8:00 am EST
- Return or acknowledge emails and phone calls from plan sponsors and participants within 24 hours
- Document all client interactions in Redtail within 24 hours
- Enter all follow-up items in the appropriate Redtail workflow within 72 hours of the client meeting, as applicable
- Complete all follow-up items within two weeks of the client meeting, as applicable
- Salary plus incentive-based salary enhancement for new annualized recurring revenue from either retirement plans or wealth management referrals
- Discretionary year-end performance bonus
- Paid time off (Holidays, PTO, Volunteer days), 401(k) match, and medical, term life, and disability insurance
- Additional benefit options: dental, vision, voluntary life, critical illness and accident, LifeLock
- Financial support for professional accreditation/license fees and continuing education