3(16) Account Manager (Overlay product)

Base salaries are determined during our interview process, by assessing a candidate’s experience, skills against internal peers and against the scope and responsibilities of the position.

Location: Remote

Reports to: Director, 3(16) Overlay

Classification: Exempt __X____ Non- Exempt ______

Job Summary:

Account Manager services Enhanced 3(16), Comprehensive 3(16) and Institutional 3(16) clients; maintains Bundled Recordkeeper/client/advisor relationships for approximately 100 Comprehensive clients and assists with Enhanced 3(16) clients; reviews compliance testing; contribution calculations; sign / file Form 5500 and works with auditors. The position requires high levels of confidentiality and the ability to work as part of a team, while independently managing accounts. Excellent communication skills and a full understanding of customer service is a must. Position is for experienced Account Managers.

Responsibilities:

Provides timely, superior customer service and issue resolution to clients and advisors

Maintains client relationships with high client retention rate

Interprets plan documents. Able to identify and effectively communicate improvements to clients and partners.

Thorough knowledge of ERISA, IRS & DOL regulations regarding qualified plans

Works with assigned Administrator to ensure deadlines are met timely

Works with client to ensure Plan corrections are properly executed

Support the training and development of new team members by providing guidance, sharing best practices, and helping them develop the skills and knowledge needed to succeed in the role.

Participate in projects throughout the year in order to support the team in meeting industry deadlines.

Assigned Account Manager for key clients, including large and significant retirement plans.

Enhanced 3(16), Comprehensive 3(16) and Institutional 3(16) Responsibilities:

Review Form 5500 as prepared by Bundled Recordkeeper

Review compliance Testing as prepared by the Bundled Recordkeeper (ADP/ACP; 415; 402(g) 416, 410(b))

Review census data including any data integrity reports, if applicable

Review employer contribution calculations as prepared by Bundled Recordkeeper

Review participant QDROs prior to sending to Legal

Review hardship distribution requests

Work with plan’s Form 5500 auditor to provide limited audit support for Enhanced 3(16) clients.

Provides oversight and management of the following tasks as performed byBundled Recordkeeper for an assigned client base of approximately 100 Comprehensive clients.
Review Plan Document

Review SPD and SMM for compliance with ERISA

Review recordkeeper’s preparation and delivery of required plan Notices (including the participant fee disclosure notice)

Review eligibility provisions and determinations

Review enrollment

Review vesting

Authorize and review the Bundled Recordkeeper’s preparation of SAR

Confirm forfeitures / Suspense Accounts were used in accordance with plan document

Confirm the Bundled Recordkeeper processed all involuntary distributions

Conduct Annual Plan Review (APR)

Works with Bundled Recordkeeper to pull contribution report to track the timeliness of contributions

Works with plan’s Form 5500 auditor to provide audit support.

Requirements:

5+ Years of Defined Contribution retirement compliance and service experience

Minimum of 1 year in Account Manager or similar role in retirement administration.

QKA designation required or willingness to attain.

Excellent Client Relationship skills

Mastery of administrator functions and skills

Problem solving ability

Excellent communication and organizational skills

Ability to work in fast paced team environment

Knowledge of Excel and other Microsoft applications/software

Experience with FT Williams strongly desired

Ability and willingness to provide a high level of service to clients and partners.

3(16) Fiduciary Services knowledge a plus

If remote employee, must have previous experience working from home

Originally posted on Himalayas