WMS Retirement Plan Specialist

Fishback Financial Corporation; South Dakota; On-site; USD 45,000 - 65,000; Full time

Benefits offered by this job

Comprehensive healthcare benefits

401(k) with ESOP Profit Sharing

Wellness program

Student loan repayment assistance

Tuition reimbursement

Volunteer service hours

On-site childcare & preschool

Job summary

Fishback Financial Corporation’s Retirement Plan Services team seeks a capable professional to provide new business and client support, and administrative support for ERISA Relationship Managers.

You will assist with account administration, paper-work for new and ongoing client relationships, and coordination of meetings and compliance disclosures across plans and related documents.

Qualifications

• Minimum of an associate’s degree, plus four years of related work experience or the equivalent.
• Experience with a bank, wealth management group, trust company, law firm or brokerage firm is preferred.
• Knowledge, or the ability to learn a basic understanding of legal ERISA plan and IRA documents; mutual funds; tax concepts; compliance testing and mandatory disclosures.
• Excellent oral and written communications skills and attention to detail are required.
• Advanced knowledge of Excel and Word is preferred.
• Must be able to make decisions independently, while balancing multiple priorities and meeting deadlines.

Responsibilities

• Establish and maintain all support areas of Retirement Plan Services, account administration, sales activities, and relationship management, while managing a majority of the relationship activities for smaller accounts.
• Support relationship managers in the performance of their duties by preparing correspondence to clients, attorneys, accountants and beneficiaries communicating activity in their account by the department in its legal capacity.
• Coordinate the preparation and opening of new client accounts and related paperwork, along with participating in client meetings as needed.
• Assist with gathering information for such meetings and presentations.
• Assist in preparation of Initial 60-day reviews and Annual Administrative and Investment reviews for various relationship managers.
• Ability to read plan agreements and assist with annual compliance notices and disclosures across relevant statements.
• Provide tracking and proper permanent retention of all plan documents and amendments as required by IRS, DOL or plan sponsor elections.

Skills

Excellent communication

Attention to detail

Independent decision making

Education

Associate degree

Tools

Excel

Word

Job description

Job Description

This person provides new business and existing client support to the Retirement Plan Services division of the Wealth Management Services Department/Group in a professional manner. This person shall also provide administrative support for the ERISA Relationship Managers.

Qualifications

This person shall have a minimum of an associate’s degree, plus four years of related work experience or the equivalent. Experience with a bank, wealth management group, , trust company, law firm or brokerage firm is preferred. Knowledge, or the ability to learn a basic understanding of legal ERISA plan and IRA documents; mutual funds; tax concepts; compliance testing and mandatory disclosures. Excellent oral and written communications skills and attention to detail are required. Advanced knowledge of Excel and Word is preferred. Must be able to make decisions independently, while balancing multiple priorities and meeting deadlines.

Principal Responsibilities

Establish and maintain all support areas of Retirement Plan Services, account administration, sales activities, and relationship management, while managing a majority of the relationship activities for smaller accounts. Support relationship managers in the performance of their duties by preparing correspondence to clients, attorneys, accountants and beneficiaries communicating respective activity in their account by the department in its legal capacity. Coordinate the preparation and opening of new client accounts and related paperwork, along with participating in client meetings as needed. Assist with gathering information for such meetings and presentations. Assist in preparation of Initial 60-day reviews and Annual Administrative and Investment reviews for various relationship managers. Ability to read plan agreements. Assist the relationship manager with proper tracking and completion of required annual compliance notices (Safe Harbor, QDIA, and Auto-Enrollment) and DOL 408(b)(2) Plan Sponsor disclosure statements along with annual 404(a)(5) Participant disclosure statements. Provide tracking and proper permanent retention of all plan document restatements, amendments, summary of material modifications, new agreements and notifications as required by IRS, DOL or plan sponsor election for both new and existing qualified plans. Search various databases for lost participants taking action to properly locate such employee for reporting of non-responsive plan distributions, tax forms, and final statements. Provide Synergy/imaging support for Employee Benefit forms including: enrollment, investment, beneficiary and distribution forms. Prepare customer account statements for officer review and mailing. Support Retirement Plan Services Recordkeeping Division with large plan conversions, de-conversions and proper verification, organization and retention of such conversion data. Assist with data entry when necessary for uploading across platforms. Meet with bank customers in support of Custodial IRA Services. Prepare and process custodial IRAs and disclosures on the Jack Henry Streamline application including processing of new accounts, contributions and distributions. Act as a dual member in the posting and reconciliation process of all IRA transactions across all FB&T locations. Verify accuracy of posting and resolve any discrepancies. Assist in all areas of WMS as assigned by the SVP. Act in accordance with FBT policies and procedures as set forth in the employee handbook. Adhere to compliance procedures and participate in required compliance training.

Compensation Grade

Hourly Grade 4 First Bank & Trust is an Equal Opportunity, affirming action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity or expression, national origin, disability, or status as a protected veteran. Read our complete Equal Employment Opportunity Policy Statement. Applicants who would like to request reasonable accommodation to the application or interview process should call Human Resources at 800.843.1552 or email [e-mail]. We invest in our people: Our communities have contributed to the success of our business and our families. In turn, this allows us to contribute to the success of our communities. We have remained an independent community institution over the years and employ almost 700 people. Our employees are like family (they're also part owners). Not only is working for us rewarding, but you'll also be a part of a positive culture and company that gives back to the community.

Our Benefits

Comprehensive Healthcare Benefits Peace of mind when it comes to you and your family's well-being with generous health, dental, vision, and life insurance. Plus, optional access to additional life, disability, and other forms of insurance. 401(k) & ESOP Profit Sharing Employees are owners. Receive a match of up to 7% of your contributions to your retirement account. Wellness Program The Healthy Way Program incentivizes gym membership and hosts educational programs and challenges throughout the year. Education Student loan repayment assistance program. Tuition reimbursement. A robust internal training program that goes beyond onboarding. We want you to continue learning. That's why we offer job shadowing, a mentorship program, and more. Volunteer Service Hours Paid time to volunteer. Employees get 16 hours to take part in and donate their time to local charities. In-house Childcare & Preschool Kid's World childcare and preschool in Brookings is available for the children and grandchildren of employees.

Our Culture

We value our culture and work hard to keep it top of mind at all times. Employees rally around 9 core principles, creating a collaborative and enjoyable work experience for all. During the onboarding process, all new employees attend a culture camp, which is led by the CEO and the Chairman of the Board.

Work for us

Our employees enjoy working together and treat eachother (and customers) like family. Check out our career opportunities, and join a company that cares about its people and community.