Compliance Specialist III
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. Education and Experience: - Associates degree and 5+ years related experience or an equivalent combination of education and experience. - ASPPA Qualified 401(k) Administrator (QKA) designation required. Tasks Performed: - 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; and 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 any auditor questions. - Maintain a 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 difficulty 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 development 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 but not limited to Restatements, Amendments, SPDs, SMMs and Notices. - Assist with QDRO allocations and corrective earnings calculations as needed
