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401k Retirement Recordkeeping Manager
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Salary is commensurate with experience. Salary ranges from $90,000 to $110,000.
At Leading Retirement Solutions (LRS) our goal is to empower all businesses with the economic independence required to help their employees save for a secure retirement. In order to deliver on this goal, LRS team members uphold their commitment to superior customer service, have a consistent track record of exceeding expectations, and always show their attention to detail by continually advancing their education of our unique industry. With their solutions-oriented mindset and ability to thrive both independently and as part of a team, LRS is able to leverage our strengths and promote innovation throughout our industry. If this aligns with your values, we would love for you to join our organization of experts!
We implement 401(k)s, 403(b)s, Defined Benefit Plans, SEP & Simple IRAs, ROBS, ESOPS, Church Plans, and even plans for Cannabis companies. Through our open architecture recordkeeping services, we provide investment advisors, managers, plan sponsors and participants access to traditional and nontraditional investments.
Role Responsibilities
• Manage and oversee a team of recordkeepers and deliver coaching, feedback, 121’s, continued performance management, guidance, resolving issues and performance reviews.
• Manages, coaches and trains individual team members responsible for 401(k) recordkeeping functions connected with fulfillment of participant and client driven transactions including daily payroll contribution reconciliation and processing, reviewing and/or processing of participant distributions, withdrawals, loans, rollovers, and annual contribution processing in all related systems and applications.
• Executes consistent audits to ensure quality controls meet department and organization standards.
• Collaborates closely with client service teams in the coordination and fulfillment of client level transfers out of the 401k Plan to other qualified retirement plans, including scheduling and conducting the asset and data transfer with the client’s new plan service provider.
• Works closely with business units, consultants, compliance, vendors, and department leadership to refine/define plan recordkeeping strategies.
• Monitors industry trends to identify process improvement, opportunities, and maintenance of industry standards associated with the recordkeeping of 401(k) plans.
• Maintains a working knowledge of ERISA, the Internal Revenue Code and applicable regulatory guidelines connected with 401(k) plan operations, recordkeeping, and administration to new and existing procedures to protect Insperity from potential fiduciary and legal risks.
• Manages the client amendment process in tandem with the service team to assure timely and accurate implementation of desired changes in all related systems and applications.
• Collaborates with the Insperity Contact Center to continuously improve participant’s transaction processing experience for form-based transactions and/or record updates that participants are not able to complete independently online.
• Resolves escalated operational and inquiry calls from internal and external partners as it relates to participant related transactions.
• Monitors and reports transaction metrics to identify trends and to report to leadership.
• Serves as project lead on process improvement efforts necessary to service a high volume of 401k plan transactions with accuracy and efficiency with a focus on minimizing errors that result in financial consequences to Insperity.
• Streamlines processes in alignment with organizational growth.
• Manages and executes corrective activity to maintain 401k plan compliance.
• Reviews and monitors third party providers and their applications related to 401k recordkeeping to assure Retirement Services is using providers that align with industry best practices.
• Participates in key decisions as a member of LRS leadership team, including efforts to effectively manage the department’s resources and to effect continuous improvement in the department’s performance.
• Researches and responds/resolves inquiry calls from clients and participants concerning operational issues, as well as providing information and assistance to other areas of the company.
Qualifications
• Bachelor’s Degree in similar field
• 3+ Years of Management Experience
• 4+ Years of daily recordkeeping experience of 401k plans
• 4+ Years of experience with SRT or similar platform
• Thoroughly understands (and stays knowledgeable of) retirement plans (particularly defined contribution and small defined benefit (1-24 employees) plans, including plan designs, compliance & government filings, legislation, and emerging trends.
• Ability to maintain strong working relationship with trading/custody vendors
• Capable of relating to customer, other team members and leadership.
• Must have the ability to process detailed work within assigned timeframes and without errors.
• Superb communication skills and a commitment to superior customer service.
• Excellent attention to detail and accuracy, proficient with numbers and basic calculations.
• Solutions oriented and ability to handle changing and competing responsibilities are necessary skills when working in an emerging business, like Leading Retirement Solutions.
• Strong command of technology and ability to learn new software solutions easily and quickly.
• Works well with a team, including other team members who work remotely/virtually.
• Proficiency is required with Excel, Word, Outlook, Adobe Acrobat, browsing network directories, and dual screens as we are a paperless office.
• Creative participation and forward-looking contribution to team activities and company progress.
• Possesses a preference for action, avoids workplace distractions, and drives performance targets to completion.
We Offer Benefits
• Multiple (4!) medical plans including your choice of PPO and HSA.
• Dental, Vision, Life and Accident insurance
• 3+ weeks of Paid Time off (PTO) starting.
• A company sponsored 401(k) Plan + company matching contributions
• Paid holidays
• 100% remote work – we will never call you back into an office!
• A company sponsored 401(k) Plan + company matching contributions
• Performance bonuses
• Tuition and certification reimbursement for ongoing education and credentialing
• A great, casual working environment!