Compliance Specialist III - TPA Experts

Overview

Compliance Specialist III - The TPA Experts at NBT Bank

Pay Range: $69,765.00 - $93,042.00

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.

• 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; conduct self and peer review as needed.
• 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 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 plans including cross-tested profit sharing allocations, balance forward valuations, and defined benefit and cash balance combo plans.
• 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 develop processes and implement best practices that ensure a set standard of service.
• Prepare asset reconciliation and research differences as needed for plan valuation, testing and reporting requirements.
• Prepare outside asset and balance forward earnings allocations and participant validations (monthly, quarterly, annually) as needed.
• Prepare Plan Documents as needed, including Restatements, Amendments, SPDs, SMMs and Notices.
• Assist with QDRO allocations and corrective earnings calculations as needed.
• Perform other duties as assigned.

• 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.

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.

We value and support your wellbeing by offering generous time-off policies, wellness initiatives and flexible work arrangements.

We believe 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.

We strive for a workplace where every voice matters and every team member feels empowered to contribute. We foster an environment where employees are connected, inspired, and valued.

Your growth and development are our priority. NBT provides development programs and tools for you to reach your full potential.

We recognize and reward contributions with competitive compensation, comprehensive benefits and performance-based incentives.

NBT has a long-standing reputation as a stable financial institution with ongoing growth and risk management.

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