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.
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
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
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.
Bachelor's degree or 5 years of industry experience in financial services or retirement services environment.
Outstanding client focused background, demonstrating experience working in high paced environment.
Efficient knowledge of ERISA, DOL and IRS regulations, and plan documents.
Excellent time management and prioritization skills.
Excellent written and oral communication skills. The ability to communicate effectively (clear, concise and professionally) with all levels within the Ascensus organization and with external Ascensus clients.
Outstanding computer literacy with recordkeeping systems and trust systems.
Excellent knowledge of MS Office software applications, specifically Word and Excel.
Excellent analytical and problem resolution skills.
Ability to work in a team environment to ensure common goal of providing exceptional customer service.
Ability to react to change productively and handle other essential tasks as assigned.
Ability to work well under pressure with multiple priorities and deadlines in a high stress environment.
Ability to work in a fast-paced environment, handling multiple priorities.
Ability to work overtime to meet the needs and cyclical trends of the business organization.
Ascensus is a place to have a career, not just a job. As the largest US independent retirement and college savings services provider, we put our focus on people. Our culture is guided by sound principles, is committed to high standards, operates with transparency, and welcomes diversity. When you join our team, you get to go to work every day knowing that you help over 6 million Americans save for retirement and college.