Compliance Specialist III

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

About the role

The Compliance Specialist III is responsible for preparing increasingly complex compliance and government filings within company service standards and following department procedures to ensure accuracy and quality of deliverables. This role includes reviewing complex compliance and government filings of other team members, mentoring and training team members, and maintaining a high level of expertise in compliance matters.

Responsibilities

• 40% Prepare compliance tests and year-end packages, including:
  • Review of plan eligibility requirements and determination of eligible participants
  • Review of plan allocation conditions and calculation of requested contributions and forfeiture allocations
  • ADP/ACP nondiscrimination, 415 annual additions, 416 Top Heavy, and 410(b) coverage tests
  • Conduct self and peer review as needed
• 15% Prepare, review, and publish Form 5500, Form 5330, Form 8955-SSA, and other regulatory forms. Reconcile and prepare the Form 5500 and all applicable schedules for large filer plans and assist Plan Consultants in answering any auditor questions.
• 10% Maintain a working knowledge of moderate complexity plans, including but not limited to dual eligibility, integrated profit-sharing allocations, ADP/ACP testing failures, 403(b), Davis Bacon, MEP, and PEP plans. Continue to learn and develop knowledge of more complex plans, including cross-tested profit-sharing allocations, balance forward valuations, and defined benefit and cash balance combo plans.
• 10% Research and resolve testing and 5500 issues and questions, which may include collaboration with other departments as needed. Assist and mentor other team members with complex issues and questions. Work with Managers to develop processes and implement best practices that ensure a set standard of service.
• 5% Prepare asset reconciliation and research differences as needed for plan valuation, testing, and reporting requirements.
• 5% Prepare outside asset and balance forward earnings allocations and participant validations (monthly, quarterly, annually) as needed.
• 5% Prepare Plan Documents as needed, including but not limited to Restatements, Amendments, SPDs, SMMs, and Notices.
• 5% Assist with QDRO allocations and corrective earnings calculations as needed.
• 5% Perform other duties as assigned.

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 and guidance.
• Ability to write reports and emails/correspondence, and work effectively with employees across the company.
• Advanced math skills including the ability to apply concepts such as fractions, percentages, and ratios.
• Experience with Microsoft programs including Excel and Word.
• Ability to work independently and balance multiple tasks.

Physical Requirements

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

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: Ensuring your overall health and well-being.
• 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: Benefit from a 401(k) plan with employer matching, an optional Roth 401(k), and a pension plan.
• Adoption Assistance: Supporting your growing family.
• Tuition Reimbursement: Invest in your education and career growth.
• Employee Assistance Program (EAP): Access to support and resources.
• Pet Insurance: For all your furry friends.
• 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: Ensuring your overall health and well-being.
• 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: Benefit from a 401(k) plan with employer matching, an optional Roth 401(k), and a pension plan for employees who work at least 1,000 hours in a calendar year.
• Paid Sick and Safe Leave: For your health and safety.
• Employee Assistance Program (EAP): Access to support and resources.
• Financial and Banking Services: Various banking services benefits and financial planning assistance.

Why Work Here

• Wellbeing: We value and support your wellbeing by offering generous time-off policies, wellness initiatives, and flexible work arrangements.
• Community Involvement: Through volunteer service and charitable partnerships, we empower our employees to make a positive impact beyond the workplace.
• Culture: We believe in creating a workplace where every voice matters and every team member feels empowered to contribute. With supportive leadership, we foster an environment where employees are connected, inspired, and valued.
• Career Development: Whether you’re just starting your career or serve in a senior leadership role, your growth and development are our priority. We provide a wide variety of development programs and tools for you to reach your full potential.
• Total Rewards: We recognize and reward your contributions with competitive compensation, comprehensive benefits, and performance-based incentives.
• Business Stability: NBT has built a reputation as a stable financial institution by growing our people and our business, evolving our processes, and managing risk. We've weathered the market's ups and downs for over 165 years, all while charting a well-defined growth plan.