Retirement Account Administrator, Senior
About the position The Senior Retirement Account Administrator plays a crucial role in ensuring the effective administration of complex retirement plans. This position is responsible for fostering a cohesive service team by directing workflow, supporting strong communication, and demonstrating good judgment and leadership. The administrator will manage client service, compliance, and Form 5500 reporting for an assigned group of retirement plans, which are often more complex in nature. As a technical expert, the administrator serves as a resource for the department, assisting in the research and resolution of complex issues and regulatory changes. In the realm of client service, the administrator will proactively manage assigned client relationships to achieve or exceed satisfaction and retention standards. This involves developing and maintaining positive working relationships with both internal and external clients, keeping management informed of sensitive issues, and collaborating with business advisors and retirement specialists to retain key clients. The administrator will also be responsible for timely responses to inquiries and ensuring that service standards are met. Compliance and Form 5500 reporting are also significant aspects of this role. The administrator will monitor the receipt of client census information, prioritize compliance tests, and ensure that Form 5500 and Summary Annual Reports are accurate and completed within established standards. This requires a deep understanding of plan documents and the ability to instruct and guide co-workers on various compliance issues. Leadership and engagement are essential components of this position. The administrator will actively participate in initiatives to improve products and services, provide guidance and training to less experienced account administrators, and demonstrate consistent leadership qualities. The role requires a commitment to professionalism and effective communication within the service team, utilizing tools like Salesforce to document interactions and support team collaboration.
Responsibilities
- Proactively manage assigned client relationships to achieve or exceed client service satisfaction and retention standards.
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- Develop and maintain positive working relationships and open lines of communication with internal and external clients.
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- Keep Manager/Supervisor informed of sensitive issues and proactively work with Business Advisor, Retirement Specialist or Retirement Specialist to retain key clients and assets.
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- Involve Manager/Supervisor as needed to resolve technical, service, and compliance issues to ensure client satisfaction without jeopardizing regulatory requirements and service standards.
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- Assist in client feedback efforts and work with BARS/RS to identify and resolve any service issues as well as meet long-term client needs.
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- Meet service standards and proactively notify Manager/Supervisor and client if standards will not be met.
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- Timely response to internal and external inquiries.
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- Monitor receipt of client's census information to prioritize completion of compliance tests and/or Form 5500 reporting for assigned plans.
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- Understand and interpret plan document and contract provisions and apply experience and judgment to situational problem resolution.
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- Ensure that appropriate compliance tests are accurate and completed within standards.
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- Ensure Form 5500 and Summary Annual Report is accurate and completed within standards.
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- Identify changes/amendments needed to documents due to client requests.
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- Instruct and provide guidance to co-workers on a variety of compliance issues and situations.
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- Actively engage in the success of ARB and Alerus, promoting and supporting new and ongoing initiatives with positive active team involvement.
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- Participate in projects to improve the products and services offered by ARB, including project groups tasked with developing enhanced procedures or policies.
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- Provide guidance and training to less experienced account administrators.
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- Assist in problem resolution as well as developing technical skills of others.
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- Participate in meetings for the company, department and administration unit.
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- Demonstrate leadership qualities on a consistent basis.
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- Support and promote communication within the service team through direct communication, Salesforce and other available tools.
Requirements
- 4+ years experience in complex defined contribution plan administration such as professional employer organization plans, multiple employer plans, non-qualified plans, cross testing allocations and other unique plan designs.
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- Successful completion of ASPPA's Retirement Plan Fundamentals (RPF) or equivalent.
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- Possess or working towards attaining ASPPA's QKA certification or equivalent.
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- Excellent written/oral communication, organization, and client service skills required.
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- Maintain professional working relationships with internal and external clients.
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- Work independently and set priorities.
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- Interpret documents and resolve technical problems.
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- Available to work overtime to cover peak workloads and other business needs.
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- Basic knowledge of Microsoft Word and Excel.
Nice-to-haves
- Demonstrated leadership abilities as part of a team.
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- Demonstrated relational skills such as diplomacy, judgment, decision making and discretion.
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- Demonstrated critical thinking abilities.
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- Initiative, creativity and energetic active engagement in all work responsibilities.
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- Established communication, presentation and organizational skills.
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- Demonstrated professional business skills and demeanor.
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- Demonstrated ability to identify and problem solve complex situations.
Benefits
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