Retirement Plan Compliance Analyst III

The Standard; Portland (OR); Remote; USD 74,000 - 109,000; Full time

Job summary

Join a leading company in the financial sector as a Compliance Analyst, where you'll leverage your analytical and communication skills to ensure legal compliance for defined contribution plans. This remote position offers a competitive salary and a rich benefits package, including generous paid time off and an annual incentive bonus plan.

Benefits

401(k) plan with matching contributions

Annual incentive bonus plan

Generous paid time off

Paid parental leave

Employee giving program that double matches donations

Qualifications

• 5 or more years' experience in defined contribution plan administration.
• Hands-on compliance/non-discrimination testing of retirement plans.

Responsibilities

• Research and perform data analysis on defined contribution retirement plans.
• Communicate with account management about changes affecting plans.

Skills

Analytical Skills

Organizational Skills

Communication Skills

Critical Thinking

Education

Bachelor's degree in related field

Job description

The next part of your journey is right around the corner - with The Standard.

A genuine desire to make a difference in the lives of others is the foundation for everything we do. With a customer-first mindset and an intentional focus on building strong teams across the nation, we've been able to uphold our legacy of financial stability while investing in new, innovative technologies that support the needs of our customers. Our high-performance culture focused on operational excellence thrives thanks to remarkable people united by compassion and a customer-first commitment. Are you ready to make a difference?

Job Summary

Using analytical, organizational and communication skills, this position is responsible for providing high level financial, contract and / or administrative analysis, preparation and review of client deliverables, while primarily managing all compliance related activities for defined contribution plans including preparation of contribution allocations, non-discrimination and compliance testing, census requests, required minimum distributions and required government filings.

Principal Duties and Responsibilities

• 60% Research and perform data analysis regarding various aspects of defined contribution retirement plans by reviewing and interpreting plan financial and census data, plan documents, ERISA guidance and regulations, in order to monitor and ensure legal compliance of plans, respond to questions from customer plan representatives, sales consultants and co-workers regarding various aspects of day-to-day plan administration, perform annual non-discrimination testing for plans with varying levels of complexity, prepare annual government filings and respond to auditor questions regarding plan compliance. Act as an expert resource and escalation point for defined contribution procedures and pension regulations. Review, analyze and evaluate plan documents and amendments for completeness, accuracy and conformation to systems and administrative requirements.
• 20% Communicate with account management clearly and concisely to identify and describe changes and that affect the plans testing and provide potential solutions. Provide research and analytical support to account management in responding to auditor questions during audit season.
• 10% Research, analyze, interpret, and resolve complex testing and compliance questions and or issues and provide expert advice to management on creative problem resolution, such as contribution allocation formulas (including cross tested formulas) and unique testing correction methods.
• 10% Serve as a subject matter expert in complex topics relating to retirement plan administration and participate in or lead training events, carry out major assignments and provide feedback to influence future trainings related to short term and long term business objectives. Review work completed by co-workers on an as needed basis; provide detailed feedback to assure accurate plan administration and client satisfaction
• Participate in training events, carry out major assignments, and provide feedback to influence future trainings related to short term and long-term business objectives.

Skills and Background You'll Need

• Experience : 5 or more years' experience in defined contribution plan administration responsibilities, including allocation completion, document interpretation, asset reconciliation, and customer contact with hands on compliance testing.
• Hands on compliance / non-discrimination testing of retirement plans
• Previous experience with form 5500 preparation
• Deep knowledge of the Employee Retirement Income Security Act of 1974 (ERISA) and the impacts on employee benefit plans.
• Education & Experience : Bachelor's degree in related field; or the equivalent combination of education and / or relevant experience.
• Ability to work extended hours during any peak season.
• Location : Employees in this role are fully remote and are responsible for maintaining their office setup at home to include private, professional, and safe working conditions.
• Travel Requirements : Occasional travel (such as conferences or team building) may be required.

Key Behaviors of a Successful Candidate

• Use critical thinking and analysis to cull information from multiple sources including financial statements and participant census data. Read, review and analyze data for accuracy and prepare plans for compliance testing, as well as unique and complex contribution allocations / validations and Form 5500 preparation.
• Perform all required non-discrimination testing for qualified retirement plans, with medium to high complex provisions and business structures, following plan document provisions and applying appropriate governmental regulations, including any pertinent legislative changes.
• Pursue American Society of Pension professionals and Actuaries (ASPPA) classes related to the Qualified Pension Administrator (QPA) designation or higher with the goal of continuous learning and building knowledge.
• Business Acumen : Research and perform data analysis regarding various aspects of retirement plans by reviewing and interpreting plan financial and census data, plan documents, ERISA guidance and regulations, in order to monitor and ensure legal compliance of plans, respond to questions from customer plan representatives, sales consultants and co-workers regarding various aspects of day-to-day plan administration, perform annual compliance testing for customer plans, perform annual government filings and respond to auditor questions regarding plan compliance. Act as an expert resource for defined contribution procedures and pension regulations. Review, analyze and evaluate plan documents and amendments for completeness, accuracy and conformation to systems and administrative requirements.
• Use critical thinking and independent discretion in identifying and performing testing methods that may deviate from established processes that provide the most beneficial results for our clients.

Why Join the Standard?

We have built an enduring legacy of stability, innovation and financial strength thanks to the contributions of the talented, creative and compassionate people who choose to work at The Standard. To ensure we can attract and retain the best talent, when you join The Standard you can expect :

• A rich benefits package including a 401(k) plan with matching company contributions
• An annual incentive bonus plan
• Generous paid time off
• A supportive and responsive management approach
• Opportunities for career growth and advancement
• Paid time off to volunteer
• An employee giving program that double matches your donations to eligible nonprofits and schools
• Much more!

LI-REMOTE

Why Join The Standard?

We have built an enduring legacy of stability, financial strength and exceptional customer service through the contributions of the service-oriented people who choose to work at The Standard. To ensure we can attract and retain the best talent, when you join The Standard you can expect :

• A rich benefits package including medical, dental, vision and a 401(k) plan with matching company contributions
• An annual incentive bonus plan
• Generous paid time off including 11 holidays, 2 wellness days, and 8 volunteer hours annually - PTO increases with tenure
• A supportive, responsive management approach and opportunities for career growth and advancement
• Paid parental leave and adoption / surrogacy assistance
• An employee giving program that double matches your donations to eligible nonprofits and schools

In addition to the competitive salary range below, our employee-focused benefits support work-life balance. Learn more about working at The Standard.

• Eligibility to participate in an incentive program is subject to the rules governing the program and plan. Any award depends on a variety of factors including individual and organizational performance.

Salary Range :

74,500.00 - $108,750.00

Positions will be posted for at least 5 days from original posting date.

Standard Insurance Company, The Standard Life Insurance Company of New York, Standard Retirement Services, Inc., StanCorp Equities, Inc. and StanCorp Investment Advisers, Inc., marketed as The Standard, are Affirmative Action / Equal Opportunity employers. All qualified applicants will receive consideration for employment without regard to race, religion, color, sex, national origin, gender identity, sexual orientation, age, disability, or veteran status or any other condition protected by federal, state or local law. The Standard offers a drug and alcohol free work environment where possession, manufacture, transfer, offer, use of or being impaired by an illegal substance while on Standard property, or in other cases which the company believes might affect operations, safety or reputation of the company is prohibited. The Standard requires a criminal background investigation, employment, education and licensing verification as a condition of employment. All employees of The Standard must be bondable.

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