Compliance Specialist Senior, ARB

Position Summary:
Review plan documentation of prospective retirement plan clients to ensure compliance with regulations, new business standards, new business issuance procedures, and ensure plan meets the requirements of departments, including trust operations. Oversee new business implementation process. Support existing business by providing plan amendment and consulting services. Serve as a compliance and procedural resource for various departments, including sales, relationship management, marketing, plan administration, participant services and operations.

Essential Responsibilities:
Job Function 1: New Business Review and Implementation – 25%

• Accurately and within unit standards review assigned new business to insure conformance with ARB compliance and trust standards. Monitor the installation of new business and follow up or intervene as needed to ensure:
  • that account setup is complete, timely and accurate.
  • that installation exceptions are recognized.
  • that transfer assets and initial contributions are promptly coordinated.
  • that service fees are properly setup and billed/collected.
• Independently review unusual situations discovered in the sales/proposal process with internal legal counsel, managing director, plan services director, and operations director for approval and/or special processing. Track exceptions and audit processes/procedures routinely to ensure compliance.
• Document and record steps in new business process, including providing accurate detail for incentive compensation purposes.
• Outline and gather materials from plan sponsors as needed. Work with plan sponsor and managing director in proposing alternatives when data does not exist or is not available.
• Act as liaison with Advisor product line on new business installation, review and provide input on agreements, and provide back-up as necessary.

Job Function 2: Oversee Creation of Plan Documents and Agreements for New Business – 25%

• Consult with client on prototype document provisions and alternatives. Record discussion and plan design on plan specification worksheet. Provide direction to Compliance Analyst to create plan adoption agreement based on plan specifications.
• If client is using individually designed plan, review plan provisions to meet ARB underwriting and compliance standards. Consult with client on any unusual plan provisions.
• Provide direction to Compliance Analyst to prepare board resolution, retirement plan service agreement, confirmation of funds, online service agreement, fee disclosures and any other agreements and/or documents necessary to establish and define ARB and client responsibilities. Review documentation for accuracy.
• Consult with internal legal counsel on document design and customized service agreement language as needed.
• Electronically deliver timely and accurate plan documentation to client. Follow up continually to ensure that signed documents are received and filed.
• When appropriate, discuss and prepare determination letter materials for client.

Job Function 3: Compliance and Document Support for Inforce Business – 25%

• Provide accurate and timely consultation with clients and/or staff on plan amendments. Oversee issuance of plan amendments (typically resulting in plan restatement), including SMMs, related fee billing and determination letter support when necessary.
• Plan, coordinate, and track amendments and restatements, including SMMs and/or restate SPDs, required by our document vendor(s) that are legislatively mandated. Includes client correspondence, plan specific amendments, and follow up. Provide determination letter support when necessary.
• Assist clients with merger and acquisition resolutions, amendments, etc. Communicate changes with assigned Retirement Relationship Manager and Account Administrator to ensure they are involved as necessary to hold employee meetings, capture rollover assets, etc.
• Assist with, coordinate, and/or handle client communication related to legislative changes, organizational changes, fee announcements, client specific topics, etc.
• Routinely audit plan provisions and fee set up (in OMNI, AddVantage, etc.), processes and procedures to ensure ARB is operating as set forth in the agreements, including verification that fees are billed/collected as agreed.

Job Function 4: Compliance Resource and Support - 20%

• Stay current on legislative changes and industry trends. Keep managers and staff up-to-date on changes that affect their area.
• Provide retirement plan expertise to staff by being available for questions, assistance with document interpretation, guidanc