Senior Compliance Consultant, Newport

Overview

Performs compliance testing, testing review, document support, and government forms preparation and review for highly complex retirement plan clients. Ensures assigned plans remain tax qualified by meeting IRS and DOL reporting and testing requirements, including reporting on all accounting and financial activity for the plan. May provide technical training.

Responsibilities

• Prepares and/or reviews non-discrimination tests, top heavy tests, coverage tests, and 415 annual addition tests on the largest and/or most technically complex plans, including New Comparability plans, Multiple Employer Plans, and “high profile” plans.
• Completes and/or reviews additional compliance testing such as 401(a)4.
• May perform and/or review more complex contribution calculations.
• Ensures 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.
• Maintains client database and enters changes into recordkeeping software; completes testing and ensures quality control audit is performed.
• Submits financial reports and Form 5500 package for review, correction, approval, and submission to the client and governing agency.
• Allocates employer profit sharing, matching, and/or money purchase pension contributions based on plan provisions; submits to the plan sponsor for approval.
• Works with administration team to produce distributions or allocations of contributions or forfeitures based on client approval; ensures deadlines are identified and met.
• Reviews legal plan documents and employee data to determine participant eligibility.
• Reconciles and/or reviews financial activity and prepares government forms for the largest and most technically complex plans.
• Consults on, recommends, and implements resolutions to client issues and other items necessary to assure customer satisfaction.
• Maintains current awareness of legislative changes, IRS rulings, and expert opinions related to retirement plan processing.
• Researches new issues to determine impact on plan qualification status; communicates with supervisor on daily processing issues.
• Serves as a technical expert to compliance analysts and provides resolutions to support the business.
• Coordinates year-end processing issues with Relationship Managers/Client Service Managers; assists with client calls as needed.
• Leads process improvement projects after annual review of internal procedures by the Compliance Manager, incorporating upcoming tax law updates.
• Assists in training for new processes.
• Writes reports, business correspondence, and procedure manuals; presents information and responds to questions from managers, clients, customers, and the general public.
• Assists less experienced Compliance Analysts with day-to-day functions.
• Applies advanced mathematical concepts using current spreadsheet and accounting database software; performs detailed financial reconciliations and data analysis.
• Uses technical skills and available tools to solve compliance issues.
• Meets and/or exceeds performance expectations in a fast-paced environment and can work under pressure.
• Maintains regular, reliable, and punctual attendance.
• Proactively adopts, protects, and embraces emerging technologies (AI, automation, etc.), platforms, and evolving practices.
• Performs other duties as assigned related to the department’s essential operations.

Management Responsibilities

• None

Required Education, Experience, and Certificates, Licenses, Registrations

• 8 years of progressive plan experience in a third party administration environment.
• Successful completion of the ASPPA (RPF-1 & RPF-2 exams) designation; demonstrates knowledge in areas of controlled groups, cross testing, catch-up contributions, and other current technical topics.
• Advanced knowledge of retirement plan tax law (ERISA), including Revenue Code section 401(a)(4), 416, 414(b), (c), (m), (n), as well as others.
• Strong MS Office skills, including Excel.

Preferred Qualifications

• Bachelor’s degree in a business-related field or industry experience.
• QKA designation.
• ASC.

Competencies

• Independent
• Diplomatic
• Creative problem solver
• Integrity
• Analytical thinker
• Resourceful
• Team player
• Utilizes sound judgment
• Results driven
• Thoroughness
• Personal credibility
• Written and oral communication skills
• Client service focus

Travel

• Less than 5%

Location

• Newport

Compensation & Benefits

• Not specified in the provided job description.

Additional Notes

This job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities required for the role. Duties, responsibilities, and activities may change at any time with or without notice.

Please be aware of employment fraud. All email communications from the employer or its hiring managers originate from @ascensus.com or @futureplan.com email addresses. The employer will never ask you for payment or require you to purchase any equipment.