401(k) Testing Analyst
Department: Compliance Testing FLSA Status: Exempt Job Status: Full Time
Reports To: Sr. Manager, Compliance Positions Supervised: None
Work Schedule: Monday – Friday, 8:30 am – 5:30 pm
Assessments: Excel –Intermediate
POSITION SUMMARY
Utilizing analytical, organizational and communication skills, the Testing Analyst is responsible for performing required compliance tests for retirement plans. The Compliance testing process, dictated by 401(k) regulations and documents that define the plan, includes reviewing data, performing calculations, analyzing results, and determining the appropriate corrective measures. The Compliance Testing team communicates vital test results and corrective solutions to client companies and plan participants. An individual in this role utilizes a variety of proprietary software programs and Microsoft Excel to gather data and to perform a comprehensive analysis to ensure client requests are fully addressed.
ESSENTIAL FUNCTIONS
- Mid-Level knowledge of ERISA, DOL and IRS legislation as it relates to retirement plans and non-discrimination testing requirements.
- Ability to identify issues and accurately research and interpret plan documents (i.e., individually designed plans and prototype)
- Preparation of annual non-discrimination testing (ADP/ACP, Top Heavy, 402(g), 415, etc.)
- Consult with client on an as needed basis to discuss and address their questions and concerns regarding the testing results
- Utilize critical thinking to perform testing and determine alternate solutions to provide the most beneficial results for our clients
- Communicating clearly and concisely with account management when discussing changes that affect plan testing
- Comprehend and articulate test results and annual expectations and deadlines professionally and accurately to external clients and internal stakeholders
- Research, investigate and analyze information to resolve testing questions and issues and provide guidance to management
- Review and analyze client data for completeness and accuracy to perform compliance testing and make the required updates Relius participant information, as needed
- Provide excellent customer support to Account Managers in resolving compliance testing issues
- Perform duties timely and accurately and in accordance with industry, regulatory and organizational standards
- Manage assigned workload and ensure adherence with goals and deadlines both internal and regulatory
- Ability to be innovative and seek out opportunities for improvements and operational efficiencies
- Ability to prioritize multiple tasks and workload effectively, excellent time management skills
- Ability to work under pressure with deadlines
- Participate on working groups and enterprise projects, as required
- Provide excellent customer support for internal and external client escalations related project work
- Prepare IT requests and Internal Business requests for 401(k) Testing team
- Assist with maintaining process documentation for 401(k) Testing team
- Perform other duties and responsibilities as required
SKILLS & ABILITIES
- Outstanding communication and interpersonal abilities
- Demonstrated knowledge of Microsoft Office (Word, Excel, and Outlook)
- Ability to perform data analysis
- Ability to research and interpret 401k regulations
- Analytical mindset with excellent computation skills
- Ability to be innovative and seek out opportunities for operational efficiencies
- Ability to efficiently organize and prioritize/delegate tasks in a fast-paced environment
- Ability to build internal relationships and communicate effectively with senior and executive leadership
- Must be detail-oriented with excellent organizational skills
- Exceptional written and verbal communication skills
Experience
- Minimum 2+ years of progressive experience 401k plan knowledge surrounding the administration and testing process experience required
- Intermediate Skills in Excel to include working knowledge of Pivot Tables, VLOOKUP and performing basic calculations highly preferred
- Experience using FIS Relius, and Microsoft Office highly preferred
Education
- Bachelors degree in business, finance, or related field of study or equivalent work experience required
Certificates & Licenses
- Obtain Retirement Plan Fundamentals (RPF) certificate required within 1 year of hire
WORK ENVIRONMENT
- Extended sitting and computer work
- For all virtual remote positions, in order to ensure associates can effectively perform their job duties with no distractions, we require an uninterrupted virtual workspace. Additionally, there is an internet work speed requirement of 100 MBps or better. If you are unsure of your internet speed, please check with your service provider. Please ensure that you are able to meet these expectations before applying as adequate home work environment and the required internet connection is a non-negotiable requirement of remote employment.
The Power of WE
WE serve the individual saver and investor, know that their savings represents not only money, but the time it took to earn that money, which is forever gone. WE will prudently, cost-effectively and efficiently safeguard and invest that money for a better future for all we serve.
WE are guided by core principles of honesty, accountability, and transparency. Consequently, we are always looking to do the right thing.
WE will treat every customer and colleague with respect and dignity. WE will exhibit humility both as individuals and as a corporate entity.
What’s in it for you Package
This role will have a base pay range of $54,144-$75,398 annual salary. Please know, this is the base range only and does not consider other components that make up the total rewards package for this role. This position is also eligible for an annual performance bonus.
Other perks in the total rewards package are:
- Flexible work environment
- Participation in Personal Annual Performance Bonus incentive program
- Medical, Dental, Vision, and Life Insurance
- 75% employer coverage of Medical Premiums
- Retirement Savings – 401(k) plan with generous company match, vested after 2 years
- Tuition Reimbursement up to $5,250/year
- Generous Paid Time Off upon hire – plus quarterly Work/Life Balance days and paid holidays
- Paid Parental Leave
- Voluntary Pet Insurance, Lifelock and More!
- 24/7 no-cost Employee Assistance Program (EAP
Slavic401k is an Equal Opportunity Employer
Slavic 401k is an equal opportunity employer with a commitment of inclusion for all qualified candidates. Slavic401k strictly prohibits unlawful discrimination based upon an individual’s race, color, religion, gender, sexual orientation, gender identity/expression, national origin/ancestry, age, mental/physical disability, medical condition, marital status, veteran status, or any other characteristic protected by law.