Senior Compliance Analyst
Senior Compliance Analyst
Employer Active
Job Alert
You will be updated with latest job alerts via email
Share
Job Alert
You will be updated with latest job alerts via email
Not Disclosed
Salary Not Disclosed
1 Vacancy
Job Description
Newport an Ascensus company helps employers offer their associates a more secure financial future throughretirement plansinsuranceandconsulting services. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. As a provider and partner Newport is independent experienced and responsive.
Job Summary: Performs compliance testing document support and government forms preparation for complex retirement plan clients. Ensures that assigned plans remain tax qualified by meeting all IRS and DOL reporting and testing requirements including reporting on all accounting and financial activity for the plan. Communicates with plan sponsors to update and correct required data necessary to perform various testing required by government regulations (ADP ACP 415 401(a)4 coverage and top heavy testing).
Essential Functions Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.
- Investigates and clarifies client data or census problems
- Prepares nondiscrimination tests top heavy tests coverage tests 415 annual addition tests on larger and more technically complex plans including additional compliance testing that must be done such as 401(a)4
- Review of testing and/or Government Forms
- Maintains client database and enters changes into record keeping software
- Completes testing and ensures quality control audit is performed
- Serves as technical expertise to compliance analysts and provides resolutions to support business
- Allocates employer profit sharing matching and/or money purchase pension contributions based upon plan provisions and submits to plan sponsor for approval
- Calculates contribution corrections or topheavy minimum contributions for plan sponsors
- Communicates test results and recommends solutions to client when specific failures are identified
- Produces reports from record keeping system for preparation of government forms for client
- Prepares Form 5500 and related schedules using government forms software
- Submits financial reports and Form 5500 package for review correction approval and submission to client and governing agency
- Prepares plan document restatements and amendments as requested by plan sponsor. Interprets prior plan document history
- Works with administration team to produce distributions or allocations of contributions or forfeitures based upon client approval and ensures deadlines are identified and met
- Consults on recommends and implements resolutions to client issues satisfaction response and any other items necessary to assure customer loyalty
- Maintains current awareness and understanding of legislative changes IRS rulings and expert opinions related to the processing of retirement plans
- Research new issues to determine their impact on plan qualification status and communicates with manager on daily processing issues
- Consistently meets and/or exceeds performance expectations with the ability to work under pressure in a very fast paced environment
- Focuses on learning in everyday activities and events
- Collaborates with and openly shares knowledge with colleagues
- Regular reliable and punctual attendance
Management Responsibilities (None)
Required Education Experience and Certificates Licenses Registrations
- Bachelors degree in a businessrelated field or industry experience or a combination of education and industry experience
- 4 years experience in employee benefits
- Experience in testing and 5500
- Strong MS Office skills
Preferred (but not required) education or skills for this role
- ASPPA certification
- ASC preferred
Competencies
- Analytical
- Avid Learner
- Builds Collaborative Relationships
- Customer Oriented
- Detail Oriented
- Excellent Verbal and Written Communication Skills
- Information Seeker
- Judgement
- Planning and Organizing
- Problem Solver
- Resourceful
- Team Player
- Time Management
TRAVEL: Up to 5
OTHER DUTIES
Please note this job description is not designed to cover or contain a comprehensive listing of activities duties or responsibilities that are required of the employee for this job. Duties responsibilities and activities may change at any time with or without notice.
Be aware of employment fraud. All email communications from Ascensus or its hiring managers originate from @ascensus or @futureplan email addresses. We will never ask you for payment or require you to purchase any equipment. If you are suspicious or unsure about validity of a job posting we strongly encourage you to apply directly through our website.
Required Experience:
Senior IC
Employment Type
Full-Time
