Compliance Specialist III

NBT Bancorp Inc.; New York (NY); On-site; USD 66,000 - 96,000; Full time

Benefits offered by this job

Competitive benefits

401(k) with employer match

Pension plan

Paid time off

Job summary

NBT Bancorp Inc. is seeking a Compliance Specialist III in New York to manage increasingly complex compliance and government filings within company service standards.

You will review filings, prepare year-end tests, and assist with Form 5500 series, ensuring accuracy and timely delivery. With a minimum of an associate degree and 5+ years of related experience (ASPPA QKA preferred), you will mentor colleagues, perform complex testing, and contribute to plan documentation and asset allocations.

Qualifications

• Associates degree and 5+ years related experience or an equivalent combination of education and experience.
• ASPPA Qualified 401(k) Administrator (QKA) designation required.
• Ability to read and interpret documents such as retirement adoption agreements, program manuals, and government instructions and guidance.
• Ability to write reports and emails/correspondence, and work effectively with employees across the company.
• Advanced math skills including the ability to apply concepts such as fractions, percentages, and ratios.
• Experience with Microsoft programs including Excel and Word.
• Ability to work independently and balance multiple tasks.

Responsibilities

• Prepare compliance tests and year-end packages including: review of plan eligibility requirements and determination of eligible participants; review of plan allocation conditions and calculation of requested contributions and forfeiture allocations.
• Prepare, review, and publish Form 5500, Form 5330, Form 8955-SSA and other regulatory forms required.
• Reconcile and prepare the Form 5500 and all applicable schedules for large filer plans and assist Plan Consultants in answering auditor questions.
• Maintain knowledge of moderate complexity plans and continue to learn more complex plans.
• Research and resolve testing and 5500 issues and questions; mentor other team members.
• Work with Managers to develop processes and implement best practices.
• Prepare asset reconciliation and research differences for valuation, testing and reporting.
• Prepare Plan Documents as needed and assist with allocations as required.

Skills

Reading documents and guidance

Report writing

Advanced math

MS Excel

MS Word

Independent work

Education

Associates degree

QKA designation

Tools

Microsoft Excel

Microsoft Word

Job description

Pay Range: $65,654.00 - $96,282.00 The Compliance Specialist III is directly responsible for preparing increasingly complex compliance and government filings within company service standards and following department procedures to ensure accuracy and quality of deliverables.

Review increasingly complex compliance and government filings of other team members within company service standards. Mentor and train other team members. Education and Experience: Associates degree and 5+ years related experience or an equivalent combination of education and experience. ASPPA Qualified 401(k) Administrator (QKA) designation required. Skills and Abilities: Ability to read and interpret documents such as retirement adoption agreements, program manuals, and government instructions and guidance Ability to write reports and emails/correspondence, and work effectively with employees across the company Advanced math skills including the ability to apply concepts such as fractions, percentages, and ratios Experience with Microsoft programs including Excel and Word Ability to work independently and balance multiple tasks.

Tasks Performed: 40% Prepare compliance tests and year end packages including: review of plan eligibility requirements and determination of eligible participants; review of plan allocation conditions and calculation of requested contributions and forfeiture allocations; ADP/ACP nondiscrimination, 415 annual additions, 416 Top Heavy, and 410(b) coverage tests; and conduct self and peer review as needed. 15% Prepare, review, and publish Form 5500, Form 5330, Form 8955-SSA and other regulatory forms required. Reconcile and prepare the Form 5500 and all applicable schedules for large filer plans and assist Plan Consultants in answering any auditor questions. 10% Maintain a working knowledge of moderate complexity plans, including but not limited to dual eligibility, integrated profit sharing allocations, ADP/ACP testing failures, 403(b), Davis Bacon, MEP and PEP plans. Continue to learn and develop knowledge of more complex difficulty plans including cross-tested profit sharing allocations, balance forward valuations, and defined benefit and cash balance combo plans 10% Research and resolve testing and 5500 issues and questions, which may include collaboration with other departments as needed. Assist and mentor other team members with complex issues and questions. Work with Managers to development processes and implement best practices that ensure a set standard of service. 5% Prepare asset reconciliation and research differences as needed for plan valuation, testing and reporting requirements. 5% Prepare outside asset and balance forward earnings allocations and participant validations (monthly, quarterly, annually) as needed. 5% Prepare Plan Documents as needed, including but not limited to Restatements, Amendments, SPDs, SMMs and Notices. 5% Assist with QDRO allocations and corrective earnings calculations as needed. 5% Perform other duties as assigned.

Physical Requirements: Communicate effectively with internal and/or external customers Stationary 75% of time or greater Move Objects to Maximum 10 lbs Why Work at NBT At NBT we empower people to grow, innovate, and thrive through meaningful work, a supportive culture and opportunities to make a real impact in your community – because your success drives our success.

Wellbeing At NBT, we value and support your wellbeing by offering generous time-off policies, wellness initiatives and flexible work arrangements, so you can thrive both personally and professionally.

Community Involvement NBT believes community involvement fosters our success and the success of those around us. Through volunteer service and charitable partnerships, we empower our employees to make a positive impact beyond the workplace.

Culture NBT believes in creating a workplace where every voice matters and every team member feels empowered to contribute. With supportive leadership, we foster an environment where employees are connected, inspired, and valued.

Career Development Whether you’re just starting your career or serve in a senior leadership role, your growth and development are our priority. NBT provides a wide variety of development programs and tools for you to reach your full potential.

Total Rewards NBT recognizes and rewards your contributions with competitive compensation, comprehensive benefits and performance-based incentives – ensuring you feel valued every step of the way.

Business Stability NBT has built a reputation as a stable financial institution by growing our people and our business, evolving our processes and managing risk. We've weathered the market's ups and downs for over 165 years, all while charting a well-defined growth plan.

Benefits for Full-Time Employees:

• Generous Paid Time Off: At least 22 days annually, prorated in the year of hire.
• Parental Leave: Six weeks of paid leave at 100% of your salary.
• Comprehensive Medical Coverage: Includes employer contributions to HSA for High Deductible Health Plan participants.
• Dental and Vision Coverage: Ensuring your overall health and well-being.
• Flexible Spending Accounts: For healthcare and dependent care expenses.
• Employer-Paid Disability Coverage: Both short-term and long-term, with an option to purchase additional long-term coverage.
• Life Insurance: Employer-paid basic life insurance, with an option to purchase supplemental coverage.
• Voluntary Benefits: Including hospital, accident, and critical illness coverage.
• Retirement Plans: Benefit from a 401(k) plan with employer matching, an optional Roth 401(k), and a pension plan to help secure your future.
• Adoption Assistance: Supporting your growing family.
• Tuition Reimbursement: Invest in your education and career growth.
• Employee Assistance Program (EAP): Access to support and resources.
• Pet Insurance: For all your furry friends.
• Financial and Banking Services: Various banking services benefits and financial planning assistance.

Benefits for Part-Time Employees Working 20+ Hours/Week:

• Medical Coverage: Includes employer contributions to HSA for High Deductible Health Plan participants.
• Dental and Vision Coverage: Ensuring your overall health and well-being.
• Voluntary Benefits: Including hospital, accident, and critical illness coverage.
• Generous Parental Leave: Six weeks of paid leave at 100% of your salary.

Benefits for All Part-Time Employees:

• Retirement Plans: Benefit from a 401(k) plan with employer matching, an optional Roth 401(k), and a pension plan for employees who work at least 1,000 hours in a calendar year, all designed to help secure your future.
• Paid Sick and Safe Leave: For your health and safety.
• Employee Assistance Program (EAP): Access to support and resources.
• Financial and Banking Services: Various banking services benefits and financial planning assistance.

Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or assume sponsorship of an employment Visa at this time.

EPIC Retirement Plan Services offers a stimulating work environment that recognizes talent and encourages teamwork. Our employees benefit from a total compensation package, including competitive salary, bonuses and a wide range of benefits for eligible employees.

EEO is the law EEO is the Law Poster Supplement Pay Transparency Nondiscrimination Provision Family Medical Leave Act (FMLA) Poster Employee Polygraph Protection Act (EPPA) EPIC Retirement Plan Services is an equal opportunity employer and fully supports a diversified environment. We do not discriminate against any applicant or employee because of race, color, religion, sex, national origin, age, disability, sexual orientation, marital status or veteran status, recently separated veterans, genetic information, victims of domestic violence and stalking or any other class protected by Federal, State or local law. This policy applies to all terms of employment. EPIC Retirement Plan Services is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation, including technical assistance with the Careers website or submission process, please call 1-888-804-1771 or contact us via email at [e-mail]. The Human Resources Shared Service Center hours of operation are Monday through Friday, 8:00 AM to 5:00 PM EST.