Our mission as a leading investment management firm is to help our clients achieve their long-term financial goals. We believe our associates are the key to this mission and we are always looking for talented individuals who share our commitment to our client's success.
If you're looking for challenging work experiences and the ability to learn in a collaborative culture, we invite you to explore the opportunities available at T. Rowe Price.
PRIMARY PURPOSE OF THE POSITION
The Compliance Analyst acts as the primary contact for internal and external clients regarding performance of nondiscrimination testing activities, plan-level audits, and completion of related government filings. The incumbent is responsible for completing audit and nondiscrimination activities for assigned plan load within the designated turnaround times.
To ensure the best interests of Retirement Plan Services' clients in accordance with plan documents and legal requirements, the Compliance Analyst performs legally-required nondiscrimination testing and audit functions. The Compliance Analyst confirms the participant and plan data to be included in the nondiscrimination testing through communication with internal and external clients. In order to provide the highest level of service, the Compliance Analyst must stay current with appropriate legislation and industry trends as well as existing current and potential certification requirements.
Performs nondiscrimination testing by understanding the plan(s), knowing current laws, importing plan information into the compliance testing system, and analyzing the results. When there is inaccurate data, incumbent reconciles and discusses legal implications of test results as well as possible remedies for a failed test with client contacts and internal parties.
Prepares and transmits Plan Accounting Report and Standard Audit Package to plan sponsor. May compile all Form 5500-related forms, schedules, sampling and supplemental data (including census data), for both signature-ready and financials-only plans. When applicable, prepares the financial reconciliations required by an outside vendor to complete Form 1041on the behalf of TRP and client. Ensures timely delivery of material to appropriate internal and external parties in order to meet client and auditor expectations on the delivery of such material.
Researches and resolves testing and audit issues pertaining to assigned and unassigned plans, arising from both client questions and from internal activities, using available electronic and hardcopy resources. Takes a proactive and customer-focused approach to communicate findings to client, internal parties, and possibly client's attorneys and discusses implications and reviews alternative courses of action that client may take. May be required to prepare for and participate in client related meetings, both internal and external.
Directs implementation of new procedures, ensures adherence to the current procedures and controls, and makes recommendations to improve existing procedures and to reduce risk. Consistently documents all procedures and processes.
Communicates and coaches peer group and the Audit and Nondiscrimination Testing Retirement Plan Specialists on technical knowledge and expertise as well as communication and client service skills. As part of the incumbent's role, they may be asked to complete the second check process for the nondiscrimination testing side of the business. This role will also be the primary resource for quality reviewing Plan Accounting Reports and Audit Requests.
Stays well-informed of and understands new and proposed legislation and determines the impacts to our clients' plans and internal testing procedures.
College degree, or Associate degree and 2 years related work experience, or High school diploma/equivalent and 3 years related work experience
Strong customer service orientation
Excellent organizational skills that include accuracy in report preparation and filing system
Solid time management skills and ability to work with several deadlines at once
Strong verbal and communication skills
Solid coaching skills
Must be able to work independently
Problem solving and analytical skills
Technical aptitude for systems/software applications (Access, Excel, etc.)
Solid understanding of the various roles played by internal parties
ASPPA RPF 1 and 2
4 year college degree with 6 or more years' experience in plan administration or related field; or 8 years of experience in plan administration or related field.
Qualified 401(k) Administrator (QKA) or Qualified Pension Administrator (QPA) designation from the American Society of Pension Professionals & Actuaries (ASPPA).
T. Rowe Price is an Equal Opportunity Employer
T. Rowe Price