Compliance Analyst

Position Responsibilities

• Aid clients through electronic filing processes.
• Respond to annual plan audit inquiries such as plan reconciliation, Fair Value determination, and direct/indirect compensation inquiries.
• Coordinate with internal/external contacts to perform compliance-related tasks.
• Proactively develop and maintain the technical and regulatory knowledge required to perform these functions, including applicable Internal Revenue Codes, regulations, and testing procedures.
• Communicate clearly to non-technical audiences on defined contribution compliance issues.
• Complete special projects as assigned in accordance with communicated expectations.

Administration / Operations

• Prepare Signature Ready Form 5500, Form 8955-SSA, and Summary Annual Report (SAR).
• Timely and accurate completion of Annual Testing, Form 5500, Form 8955-SSA, and plan corrections in accordance with IRS/DOL deadlines to avoid penalties.
• Perform Annual Compliance Testing (ADP testing (IRC section 401(k)); ACP testing (IRC section 401(m)); Elective Deferral limit (IRC section 402(g)); Annual Additions limit (IRC section 415(c)(1)); Highly Compensated Employee determination (IRC 414(q)); Annual Compensation limit (IRC section 401(a)(17)); General discrimination (IRC section 401(a)(4)); Coverage testing (IRC section 410(b))).
• Calculate Required Minimum Contributions.
• Prepare Form 5330 for late contributions.
• Process plan limit excesses.

Required Qualifications

• Bachelor’s degree in finance, business, or related field.
• Minimum 4-5 years of related financial services industry experience.
• Knowledge of and experience with: ADP testing (IRC section 401(k)); ACP testing (IRC section 401(m)); Elective Deferral limit (IRC section 402(g)); Annual Additions limit (IRC section 415(c)(1)); Highly Compensated Employee determination (IRC 414(q)); Annual Compensation limit (IRC section 401(a)(17)); General discrimination (IRC section 401(a)(4)); Coverage testing (IRC section 410(b)).
• Knowledge of Form 5500 and related schedules.
• Ability to assess problems and appropriately apply technical knowledge to deliver accurate solutions for general compliance issues.
• Attention to detail and accuracy.
• Maintain high level of service excellence.