Position Purpose: Supporting client onboarding processes to ensure key deliverables are met. Participate in client and financial professional meetings pertaining to both plan and payroll set up. Assist with conversion and translation of financial and demographic data to ensure accurate and timely transition of plan assets and establish recordkeeping on Ascensus platform. Provide backup support to Installation Coordinators during key periods throughout the year and onboard a limited number of smaller plans. Demonstrate a high level of client satisfaction to Plans and Alliance Partners by following process and procedures for the installation of plans to meet deadlines and quality levels set by the unit.
The candidate must be able to demonstrate the skills/competencies as listed below.
• Communication Skills - Communicates proactively with plans sponsors, financial professionals and TPA’s. Demonstrates ability to document procedures that are clear and easy to understand. Effectively communicates with clients on specific tasks.
• Technical Knowledge - ERISA knowledge or job specific technical knowledge required. Demonstrates in depth understanding of assigned tasks underpinning operational function and understanding at a high level of concepts behind them.
• Problem Solving- Identifies and solves problems utilizing resources/procedures for a specific process, with a defined resolution. Regularly takes ownership of problems with undefined resolutions based on knowledge of concepts.
• Detail Oriented Vs. Big Picture - Understands the impacts of decisions across business division and communicates implications to team leadership where appropriate. Develops and presents process improvements to gain efficiencies.
• Conflict Resolution - Addresses conflicts with team as well as effectively escalating cross team conflict so that senior associates and/or leadership can address. Assists associates on the team in finding positive solutions and outcomes.
• Training/Mentoring - Ownership of the mentor process that trains a peer on a new or existing process/procedure and fully understands the conceptual underpinnings of the tasks they are training other on. Ability to explain why a process/procedure is in place and how it affects other functions, not only the steps needed to complete a task.
• Risk Taking/Decision Making - Independently makes decisions on participant or plan level transactions and recognizes new "outside the box" situations and escalates those appropriately.
• Planning/Organizing - Generally plans 2-3 days in advance in order to meet specific tasks and departmental goals as defined. Plans for self and back-up as needed while also incorporating additional tasks/project work into schedule. Also takes into consideration the volumes of teammates to determine the ability to assist others. Organized so that specific items can consistently be retrieved quickly.
• Time Management/Prioritization - Strong understanding of set priorities for the department. Rarely needs assistance with conflicting priorities to ensure all deliverables are met. Responsibility to manage own tasks.
• Work Style - Works well independently and regularly takes lead in a team environment. Is able to communicate their expertise for the benefit of the larger work team.
• Initiative/Work Ethic - Completes daily work as assigned and will often assist peers with daily work to ensure deliverables are met. Proactively seeks out opportunities for additional departmental work and offers support for projects.
• Manages assigned tasks effectively to meet or exceed departmental service goals and partner specific service levels for quality and timeliness.
• Provides clear external and internal communication to clients, financial professionals and TPA’s, Installation Coordinators and Quality Assurance associates regarding key events and functions pertaining to plan onboarding.
• Independently develops key components of plan implementation, including but not limited to;
o Assist with initial Plan Establishment Kit review with plan sponsor and financial professional
o Review Investment Mapping setup with plan sponsor and financial professional
o Act as back up for Installation Coordinators during certain times of the year including but not limited to vacation coverage
o Potentially responsible for limited number of plan conversions of startup or micro plans throughout the year as part of career development.
o Responsible for managing a number of conversions for both startup and transfer plans as necessary during critical peak periods to meet and exceed client expectations.
o Communication of plan level waits to plan sponsor for follow up and , including internal follow up with peers
o Complete Go Live Processing, including plan level audits, client communication and transition to ESS when necessary
• Coordinates with plan sponsor and financial advisor collection of required compliance information, including but not limited to;
o Participate in interactions with prior record keepers and/or clients as they complete the onboarding process to ensure all required testing and Form 5500 data has been received and loaded.
o Communicate missing information to applicable external parties regarding data necessary to complete the first year Compliance Testing and 5500.
o Ability to reconcile reports from prior record keeper to prepare financial schedules required for Form 5500 and Compliance Testing in the first year.
o Demonstrate knowledge of annual Compliance testing (ADP/ACP, 410(b). 415, 402(g)), 5500 filing process and Top-Heavy testing. Lead or support annual post mortem analysis for functional tasks.
o Successfully monitor follow-up on assigned items, including seeing problems to resolution and closure. Escalating client trends or issues to appropriate management.
o Train other associates on all responsibilities identified as pertaining to compliance and first year end readiness.
• Participate in payroll setup calls for both transfer and start up plans to ensure timely and accurate submission of contributions and all demographic data required for accurate plan administration.
• Makes recommendations to Installation Coordinator based upon plan needs and standard service available within the retirement plan products.
• Performs updates to various internal tracking systems to ensure accurate tracking of installation milestones.
• Monitors internal department’s completion of tasks, within the implementation plan, by the scheduled date.
• Provides input to Installation Coordinator and Management on potential client issues or implementation delays.
• Proactively escalates potential risks to appropriate leadership staff that impact either service satisfaction and/or financial liability.