Senior Retirement Plan Consultant

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GENERAL FUNCTION:

The Fifth Third Institutional Services (FTIS) Sr Retirement Plan Consultant serves as the primary contact for assigned Retirement Plan Advisory Services (“RPAS”) National and Regional institutional clients. The FTIS/RPAS Retirement Plan Consultant is responsible for providing assigned clients with industry, regulatory, and legislative updates that may impact their plan.  In addition, where appropriate, the Consultant provides ideas and advice on complex issues such as plan design, compliance, and service provider product developments.  Knowledgeable of the full suite of Fifth Third Institutional products and services, including investment management and trust and custody solutions. 

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures, as defined.  Accountable for always doing the right thing for customers and colleagues and ensures that actions and behaviors drive a positive customer experience.  While operating within the Bank’s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Client Retention

-Maintain and retain assigned book of business, both locally and nationally, by following established RPAS procedures and utilizing fiduciary oversight best practices.

-Work with a client’s other service providers to coordinate employee education campaigns to promote plan participation and full utilization of the benefits a plan offers employee participants..

-Meet annual cross-sell goals by identifying additional business opportunities with existing clients, including additional benefit plan consulting and company investment management or custody opportunities.  Leverage internal relationships with Fifth Third senior leadership, Institutional Sales Officers, Commercial Relationship Managers, Corporate Bankers, Business Banking Relationship Managers, Private Bankers, Wealth Management Advisors, and Institutional Portfolio Managers to facilitate our One Bank strategy of consultatively selling Fifth Third's full suite of financial products and services.

-Represent the Fifth Third Bank in civic, government, community, charitable, banking, and other professional groups and associations to develop contacts and new business opportunities and to promote the Bank's positive image and brand.

Consulting Excellence

-Understand the FTIS RFP process and value propositions and assist the sales team by explaining the benefits of our advisory services, as well as any preliminary benchmarking results and fund line up recommendations. Participate in finals presentations to prospects.

-On a regular basis, provide a complete overview of a client’s or prospect’s plan features and demographics and advise the sponsoring company on an appropriate and suitable course of action that would best meet their retirement plan goals with the best plan and participant outcomes.

-Adhere to the defined FTIS RPAS service delivery model. Document all client interactions on a timely basis within the CRM system.

-Embrace and advocate FTIS’ mission, value propositions, and points of differentiation.

-Proactively manage client documentation, pricing, profitability, and fee structures in accordance with approved administrative and pricing guidelines.

Conduct annual fiduciary training for plan committee members.

-Review, approve and monitor fee invoices to ensure accurate billing and timely payment by clients.

-Lead or participate in special and cross-functional projects to enhance the products and services of FTIS. Serve as subject matter expert for new product or service rollouts for regional and corporate bank teams.

-Meet ASPPA required annual continuing education to retain certifications (see requirement below).

-Accountable for timeliness and accuracy of annual administrative file reviews in collaboration with client service team.

-Partner with client service team to ensure all internal compliance and proper documentation requirements are met, consistent with internal fiduciary policies and procedures regarding new account and asset acceptances and other bank policies, procedures and guidelines.

Deliver exceptional Client Experience

-Develop strong relationships with regional recordkeeping vendors (e.g., EMPOWER, Fidelity, Vanguard, Principal) to understand vendor recordkeeping product offerings and tools and support client access to plan data.

-Together with the assigned Investmen