Compliance Analyst

Manulife Financial

Boston (MA)

Hybrid

USD 73,350 - 122,250

Full time

14 days+

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Benefits offered by this job

Hybrid work arrangement

Inclusive workplace

Job summary

Manulife Financial is seeking a Compliance Analyst to perform compliance tests for defined contribution clients and prepare Form 5500 and related schedules in a hybrid office setting.

The role requires 4–5 years in financial services, knowledge of IRS/ERISA testing, and attention to detail. This is a hybrid position in Boston with 3 in-office days per week (Tue, Wed, Thu) at Boston or Canada locations.

Qualifications

Bachelor’s degree in finance, business, or related field.
Minimum 4-5 years of related financial services industry experience.
Knowledge of Form 5500 and related schedules.
Ability to assess problems and apply technical knowledge to deliver accurate solutions.
Ability to prioritize, organize, and work on multiple issues simultaneously.

Responsibilities

Assist client through electronic filing process.
Perform Annual Compliance Testing.
Prepare Signature Ready Form 5500, Form 8955-SSA and Summary Annual Report (SAR).
Timely completion of Annual Testing, Form 5500, Form 8955-SSA and plan corrections.
Calculate Required Minimum Contributions and prepare Form 5330 for late contributions.
Complete ERISA requests such as Projected Testing, Match Study, Auto Enroll Analysis.

Skills

Attention to detail

Clear communication

Multitasking

Regulatory knowledge

Project coordination

Education

Bachelor’s degree in finance or related field

Job description

As a Compliance Analyst you will perform a range of compliance tests for our defined contribution compliance clients and prepare the Form 5500 and related schedules for both Defined Benefit and Defined Contribution clients to ensure plans are following IRS qualification requirements.Additional tasks may include responding to annual plan audit inquiries, preparing Form 5330’s and/or calculating Required Minimum Distributions.

This is a Hybrid work arrangement requiring you to be in office 3 days per week (Tues, Wed, Thurs) in either the Boston USA office or the Halifax/Toronto Canadian office locations.

Position Responsibilities:

Client Relations

Assist client through electronic filing process
Respond to annual plan audit inquiries such as plan reconciliation, Fair Value determination and direct/indirect compensation inquiries
Perform Annual Compliance Testing
Coordinate with internal/external contacts to perform compliance-related tasks. Proactively develop and maintain the technical and regulatory knowledge required to perform these functions, including applicable Internal Revenue Codes, regulations, and testing procedures
Ability to communicate clearly to non-technical audiences on defined contribution compliance issues
Complete special projects as assigned in accordance with communicated expectations

Administration / Operations

Prepare Signature Ready Form 5500, Form 8955-SSA and Summary Annual Report (SAR)
Timely and accurate completion of Annual Testing, Form 5500, Form 8955-SSA and plan corrections in accordance with IRS/DOL deadlines to avoid penalties
Perform Annual Compliance Testing (ADP testing (IRC section 401(k)); ACP testing (IRC section 401(m)); Elective Deferral limit (IRC section 402(g)); Annual Additions limit (IRC section 415(c)(1)); Highly Compensated Employee determination (IRC 414(q)); Annual Compensation limit (IRC section 401(a)(17)); General discrimination (IRC section 401(a)(4)); Coverage testing (IRC section 410(b)))
Calculate Required Minimum Contributions
Prepare Form 5330 for late contributions
Complete ERISA requests such as Projected Testing, Match Study, Auto Enroll Analysis, etc.
Perform Average Benefit Testing, Benefits Rights and Feature Testing as needed
Monitor 402(g) excesses
Process plan limit excesses

Required Qualifications

Bachelor’s degree in finance, business, or related field
Minimum 4-5 years of related financial services industry experience
Knowledge of and experience with: ADP testing (IRC section 401(k)); ACP testing (IRC section 401(m)); Elective Deferral limit (IRC section 402(g)); Annual Additions limit (IRC section 415(c)(1)); Highly Compensated Employee determination (IRC 414(q)); Annual Compensation limit (IRC section 401(a)(17)); General discrimination (IRC section 401(a)(4)); Coverage testing (IRC section 410(b))
Knowledge of Form 5500 and related schedules
Ability to assess problems and appropriately apply technical knowledge to deliver accurate solutions for general compliance issues
Ability to prioritize, organize, and work on multiple issues simultaneously
Attention to detail and accuracy
Maintain high level of service excellence

When you join our team:

We’ll empower you to learn and grow the career you want.
We’ll recognize and support you in a flexible environment where well-being and inclusion are more than just words.
As part of our global team, we’ll support you in shaping the future you want to see.

The role being advertised is an existing vacancy.

About Manulife and John Hancock

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. To learn more about us, visit https://www.manulife.com/en/about/our-story.html.

Manulife is an Equal Opportunity Employer

At Manulife/John Hancock, we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.

It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact hr@manulife.com.

Referenced Salary Location

Boston, Massachusetts

Working Arrangement

Hybrid

Salary range is expected to be between

$73,350.00 USD - $122,250.00 USD

Employees also have the opportunity to participate in incentive programs and earn incentive compensation tied to business and individual performance. The actual salary will vary depending on local market conditions, geography and relevant job-related factors such as knowledge, skills, qualifications, experience, and education/training. If you are applying for this role outside of the primary location, please contact hr@manulife.com for the salary range for your location.

Manulife/John Hancock offers eligible employees a wide array of customizable benefits, including health, dental, mental health, vision, short- and long-term disability, life and AD&D insurance coverage, adoption/surrogacy and wellness benefits, and employee/family assistance plans. We also offer eligible employees various retirement savings plans (including pension/401(k) savings plans and a global share ownership plan with employer matching contributions) and financial education and counseling resources. Our generous paid time off program in the U.S. includes up to 11 paid holidays, 3 personal days, 150 hours of vacation, and 40 hours of sick time (or more where required by law) each year, and we offer the full range of statutory leaves of absence.

We use data and analytics technologies, such as artificial intelligence (AI), and automated processing tools, to analyze and process the information you provide to us or third parties in the application process. For more information, please refer to our personal information collection statement.