Fiduciary Operations Specialist

FuturePlan is the nation’s largest third-party administrator (TPA) of retirement plans, partnering with advisors in all 50 states. FuturePlan delivers the best of both worlds: high-touch personalized service from local TPAs backed by the strength and security of a large national firm, Ascensus. Our roots go back decades, with nearly 30 outstanding legacy firms now joined together to deliver unmatched levels of service, innovation and expertise to a fast-growing client base from coast to coast. The FuturePlan team includes more than 500 credentialed plan professionals, 60 actuaries, and one of the industry’s largest in-house ERISA teams. Learn more at FuturePlan.com.

Job Description

POSITION SUMMARY

Working in conjunction with Client Relationship Managers, the Fiduciary Operations Specialist supports our clients by being responsible for the administrative tasks of a plan fiduciary. The Fiduciary Operations Specialist will be measured on their ability to effectively communicate with plan sponsors, plan participants, and internal team members as well as their ability to critically think and solve problems. The Fiduciary Operations Specialist will also be utilized to work on internal projects as needed.

Duties And Responsibilities

• Process and/or review the following:
• Data analytics (e.g., eligibility, plan compensation, deferral/match rates, annual limits, vesting, loan repayments, timely remittances, etc.)
• Distributions, loans, and hardship requests
• Required notices and enrollment packets fulfillment
• Collection and recording of recordkeeper and plan sponsor data
• Communicating with recordkeepers and TPAs to facilitate above processes
• Communicate significant issues and exceptions to an appropriate higher level of authority within the organization in a timely manner
• Performing project work as needed
• Compilation and delivery (through CRMs) of year-end reporting and fiduciary file
• Work with the operations coordinator and the project manager to help enhance and streamline existing 3(16) process, as well as create new processes as they are needed.
• Act as a point of contact for 3(16) related questions from Client Relationship Managers, Sales Directors, Installation Specialists, and Management.
• Work with the Fiduciary Services Manager on the profitability margins for 3(16) clients.
• Act as the point of contact for Operational annual projects that impact the Fiduciary Department (or multiple departments) by developing and maintaining detailed project schedules, including all administrative/operational tasks involved.
• Liaise with internal teams to identify and define potential project requirements, scope and objectives.
• Fiduciary Assistant ® Software
• Apply database knowledge in the areas of design (FA/SQL/Payroll related), performance and modification.
• Occasionally perform program optimization and improvement planning – including database performance monitoring and analysis, capacity planning (if needed) and ongoing maintenance and tuning to ensure maximum performance.
• Evaluate and interpret import requirements relating to payroll software to develop and implement appropriate technical solutions.
• Load import files received from clients/plan admin while managing workflows to ensure all payroll import transactions are processed through the Fiduciary Assistant accurately and timely.
  
  

Basic/Minimum Qualifications

• Bachelor’s degree (B.A., B.S.) in accounting, business, or human resources, or equivalent business experience
• Excellent customer service skills
• Team player, willing to help out where needed
• Effective communication skills
• Self-motivated, eager to learn and grow
• Responsive and efficient
• Organized, with an attention to detail
• Proactive innovative thinker
• Ability to effectively assess risk
• Creative problem solving skills
• Intermediate knowledge of MS Office Suite
• Experience with databases and data management
• Knowledge of general retirement plan administration and/or plan design, or equivalent technical/compliance processing environment
• Understanding of financial markets and financial service organizations
• Experience with reconciliation processes
• Knowledge of payroll processing and payroll deductions related to retirement plans
  
  

Be aware of employment fraud. All email communications from Ascensus or its hiring managers originate from @ascensus.com or @futureplan.com email addresses. We will never ask you for payment or require you to purchase any equipment. If you are suspicious or unsure about validity of a job posting, we strongly encourage you to apply directly through our website.