Compliance Specialist III

Pay Range: $65,654.00 - $96,282.00

About the role

The Compliance Specialist III prepares increasingly complex compliance and government filings within company service standards and department procedures to ensure accuracy and quality of deliverables. This role reviews complex compliance and government filings of other team members, mentors and trains team members, and maintains a working knowledge of moderate to complex retirement plans.

Responsibilities

• Prepare compliance tests and year-end packages (40%):
  • Review plan eligibility requirements and determine eligible participants
  • Review plan allocation conditions and calculate requested contributions and forfeiture allocations
  • Conduct ADP/ACP nondiscrimination, 415 annual additions, 416 Top Heavy, and 410(b) coverage tests
  • Perform self and peer review as needed
• Prepare, review, and publish Form 5500, Form 5330, Form 8955-SSA, and other regulatory forms (15%)
• Reconcile and prepare Form 5500 and all applicable schedules for large filer plans
• Assist Plan Consultants in answering auditor questions
• Maintain working knowledge of moderate complexity plans (10%), including but not limited to:
  • Dual eligibility
  • Integrated profit-sharing allocations
  • ADP/ACP testing failures
  • 403(b), Davis Bacon, MEP, and PEP plans
• Continue learning and developing knowledge of complex plans, including:
  • Cross-tested profit-sharing allocations
  • Balance forward valuations
  • Defined benefit and cash balance combo plans
• Research and resolve testing and Form 5500 issues (10%), collaborating with other departments as needed
• Mentor team members on complex issues and questions
• Work with managers to develop processes and implement best practices
• Prepare asset reconciliation and research differences for plan valuation, testing, and reporting (5%)
• Prepare outside asset and balance forward earnings allocations and participant validations (monthly, quarterly, annually) as needed (5%)
• Prepare Plan Documents as needed (5%), including:
  • Restatements
  • Amendments
  • Summary Plan Descriptions (SPDs)
  • Summary of Material Modifications (SMMs)
  • Notices
• Assist with QDRO allocations and corrective earnings calculations as needed (5%)
• Perform other duties as assigned (5%)

Requirements

• Associate’s degree and 5+ years of related experience or an equivalent combination of education and experience
• ASPPA Qualified 401(k) Administrator (QKA) designation required

Skills

• Ability to read and interpret documents such as retirement adoption agreements, program manuals, and government instructions
• Ability to write reports, emails, and correspondence
• Advanced math skills, including applying concepts such as fractions, percentages, and ratios
• Proficiency with Microsoft Excel and Word
• Ability to work independently and balance multiple tasks
• Effective communication with employees across the company

Physical Requirements

• Communicate effectively with internal and/or external customers
• Stationary 75% of the time or greater
• Move objects up to 10 lbs

Why Work Here

At NBT, we empower people to grow, innovate, and thrive through meaningful work, a supportive culture, and opportunities to make a real impact in the community. Your success drives our success.

Benefits

For Full-Time Employees:

• Generous Paid Time Off: At least 22 days annually, prorated in the year of hire
• Parental Leave: Six weeks of paid leave at 100% of your salary
• Comprehensive Medical Coverage: Includes employer contributions to HSA for High Deductible Health Plan participants
• Dental and Vision Coverage
• Flexible Spending Accounts: For healthcare and dependent care expenses
• Employer-Paid Disability Coverage: Both short-term and long-term, with an option to purchase additional long-term coverage
• Life Insurance: Employer-paid basic life insurance, with an option to purchase supplemental coverage
• Voluntary Benefits: Including hospital, accident, and critical illness coverage
• Retirement Plans:
  • 401(k) plan with employer matching
  • Optional Roth 401(k)
  • Pension plan
• Adoption Assistance
• Tuition Reimbursement
• Employee Assistance Program (EAP)
• Pet Insurance
• Financial and Banking Services: Various banking services benefits and financial planning assistance

For Part-Time Employees Working 20+ Hours/Week:

• Medical Coverage: Includes employer contributions to HSA for High Deductible Health Plan participants
• Dental and Vision Coverage
• Voluntary Benefits: Including hospital, accident, and critical illness coverage
• Generous Parental Leave: Six weeks of paid leave at 100% of your salary

For All Part-Time Employees:

• Retirement Plans:
  • 401(k) plan with employer matching
  • Optional Roth 401(k)
  • Pension plan for employees who work at least 1,000 hours in a calendar year
• Paid Sick and Safe Leave
• Employee Assistance Program (EAP)
• Financial and Banking Services: Various banking services benefits and financial planning assistance