Compliance Analyst

Enrich And Enlight Business Consulting; Chennai District; On-site; INR 800,000 - 1,100,000; Full time

Job summary

Enrich And Enlight Business Consulting in Chennai seeks an ASC Compliance Analyst to perform end-to-end compliance testing for complex retirement plan clients, ensuring tax-qualified status by meeting IRS and DOL requirements and preparing Form 5500.

The role requires 5+ years in compliance testing, 2-3 years with ASC Compliance software, ASPPA certification preferred, and strong analytical, detail-oriented, and communication skills in a fast-paced environment.

Qualifications

• 5+ years experience in compliance testing, contribution calculations and allocations.
• Minimum of 2-3 years of experience using ASC Compliance software for testing/allocations.

Responsibilities

• Investigates and clarifies client data or census problems
• Prepares non-discrimination tests, top heavy tests, coverage tests, 415 annual addition tests on larger and more technically complex plans, including additional compliance testing such as 401(a)4
• Review of testing and/or Government Forms
• 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 top-heavy minimum contributions for plan sponsors
• Communicates test results and recommends solutions to client when specific failures are identified
• 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
• Maintains current awareness and understanding of legislative changes, IRS rulings, and expert opinions related to the processing of retirement plans
• Consistently meets and/or exceeds performance expectations with the ability to work under pressure in a very fast paced environment

Skills

Analytical

Attention to detail

Communication skills

Teamwork

Time management

Education

ASPPA certification

Tools

ASC Compliance software

Job description

Role : ASC Compliance Analyst

Exp : 2+

Location : Chennai

Work Mode : WFO

Interview : In Person

Job Summary

Performs full beginning to end 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).

ASC application exprience must

Essential Functions

• Investigates and clarifies client data or census problems
• Prepares non-discrimination 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
• 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 top-heavy minimum contributions for plan sponsors
• Communicates test results and recommends solutions to client when specific failures are identified
• 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
• Maintains current awareness and understanding of legislative changes, IRS rulings, and expert opinions related to the processing of retirement plans
• Consistently meets and/or exceeds performance expectations with the ability to work under pressure in a very fast paced environment

Required Education, Experience and Certificates

• 5+ years experience in compliance testing, contribution calculations and allocations
• Minimum of 2-3 years of experience using ASC Compliance software for testing/allocations

Preferred (but not required) education or skills for this role

• ASPPA certification

Competencies

• Excellent Analytical skills
• Eye for detail
• Avid Learner
• Customer Oriented
• Detail Oriented
• Excellent Verbal and Written Communication Skills
• Information Seeker
• Planning and Organizing
• Problem Solver
• Team Player
• Time Management