ESOP/KSOP Processing Specialist

Community Financial System, Inc.; City of Utica (NY); On-site; USD 55,000 - 75,000; Full time

Benefits offered by this job

Health insurance

Vision & Dental insurance

401K with match

Pension

Tuition Reimbursement

Banking discounts

11 paid holidays

Job summary

Community Financial System, Inc. (CFSI) is hiring an ESOP/KSOP Processing Specialist to manage day-to-day and annual plan activities for ESOP and KSOP programs. You will coordinate plan functions, monitor progress, and ensure accurate processing in the OMNI system, working closely with trustees and team members.

The role requires experience with ESOP/KSOP plans, strong organizational skills, and effective communication within a collaborative ESOP team environment.

Qualifications

• Experience with ESOP/KSOP plan administration preferred.
• Familiarity with OMNI system or similar recordkeeping platforms.
• Strong organizational skills and attention to detail.
• Ability to coordinate multiple tasks and meet deadlines.
• Excellent communication and teamwork skills.

Responsibilities

• The ESOP/KSOP Processing Specialist handles daily and annual processing of ESOP and KSOP plans.
• Coordinate annual plan functions, monitor task completion, and ensure timely processing in OMNI.
• Process contributions, distributions, and related recordkeeping tasks across plans.
• Lead diversification and buyback processing and prepare necessary forms.

Skills

ESOP processing

Time management

Attention to detail

Communication

Teamwork

Tools

OMNI system

Job description

Overview

At Community Financial System, Inc. (CFSI), we are dedicated to providing our customers with friendly, personalized, high-quality financial services and products. Our retail division, Community Bank, N.A., operates more than 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts. Beyond retail banking, we also offer commercial banking, wealth management, investment management, insurance and risk management, and benefit plan administration.Just as our employees are committed to helping our customers manage their finances, we're committed to our employees. After all, they make it happen for our customers every day.To ensure our people can enjoy long and successful careers here at CFSI, we offer competitive compensation, great benefits, and professional development and advancement opportunities. As an equal-opportunity workplace and affirmative-action employer, we celebrate and support a diverse workplace for the benefit of all: our employees, customers and communities.

Overview

At Community Financial System, Inc. (CFSI), we are dedicated to providing our customers with friendly, personalized, high-quality financial services and products. Our retail division, Community Bank, N.A., operates more than 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts. Beyond retail banking, we also offer commercial banking, wealth management, investment management, insurance and risk management, and benefit plan administration.Just as our employees are committed to helping our customers manage their finances, we're committed to our employees. After all, they make it happen for our customers every day.To ensure our people can enjoy long and successful careers here at CFSI, we offer competitive compensation, great benefits, and professional development and advancement opportunities. As an equal-opportunity workplace and affirmative-action employer, we celebrate and support a diverse workplace for the benefit of all: our employees, customers and communities.

Responsibilities

The ESOP/KSOP Processing Specialist is responsible for the daily and annual processing of all ESOP and KSOP plans managed by the ESOP Team. This role coordinates annual plan functions, monitors task completion in PTM, and ensures accurate and timely processing in the OMNI system.

Daily & Annual Plan Processing

• Manage contributions (share allocations), forfeitures, dividends, and income postings for daily KSOP and balance forward ESOP plans
• Process distributions for daily-traded transactions and stock plans handled by external trustees
• Handle diversification processing and buybacks
• Perform Social Security Number (SSN) mergers and changesKPH-Specific Processing
• Lead and monitor distribution and diversification processes
• Run weekly trade estimates and trade confirmation reports
• Prepare KPH diversification forms and update OMNI for terminations and required paperwork
• Post contribution files in OMNIAdministrative & Support Functions
• Prepare and mail distribution forms, including plan review for terminated employees eligible for distributions
• Conduct semi-annual reviews for force-out distributions
• Prepare and track diversification forms for completion

Qualifications

• Experience with ESOP/KSOP plan administration preferred
• Familiarity with OMNI system or similar recordkeeping platforms
• Strong organizational skills and attention to detail
• Ability to coordinate multiple tasks and meet deadlines
• Excellent communication and teamwork skills
• All applicants must be 18 years of age or olderOther:This position is a critical member of the ESOP Team, ensuring that plan participants' accounts are accurately maintained and compliant with plan provisions. You'll work closely with team members, consultants, and external trustees to support the smooth operation of all ESOP/KSOP plans.

Other Job Information

Compensation: Commensurate with experience plus potential for annual merit increase. In addition to your competitive salary, you will be rewarded benefits including: 11 paid holidays, paid vacation, Medical, Vision & Dental insurance, 401K with generous match, Pension, Tuition Reimbursement, Banking discounts and the list goes on!Physical Requirements: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee may be required to stand, walk or sit. Use hands and fingers, handle or feel, reach with hands or arms, and speak and hear. The employee may occasionally be required to lift and or move up to 25 pounds. Specific vision abilities required by this job include