WMS Retirement Plan Specialist

This person provides new business and existing client support to the Retirement Plan Services division of the Wealth Management Services Department/Group in a professional manner.  This person shall also provide administrative support for the ERISA Relationship Managers.   

Qualifications: This person shall have a minimum of an associate’s degree, plus four years of related work experience or the equivalent.  Experience with a bank, wealth management group, , trust company, law firm or brokerage firm is preferred. Knowledge, or the ability to learn a basic understanding of legal ERISA plan and IRA documents; mutual funds; tax concepts; compliance testing and mandatory disclosures. Excellent oral and written communications skills and attention to detail are required.  Advanced knowledge of Excel and Word is preferred.  Must be able to make decisions independently, while balancing multiple priorities and meeting deadlines.  

Principal Responsibilities: 

• Establish and maintain all support areas of Retirement Plan Services, account administration, sales activities, and relationship management, while managing a majority of the relationship activities for smaller accounts. 

• Support relationship managers in the performance of their duties by preparing correspondence to clients, attorneys, accountants and beneficiaries communicating respective activity in their account by the department in its legal capacity.   

• Coordinate the preparation and opening of new client accounts and related paperwork, along with participating in client meetings as needed.  Assist with gathering information for such meetings and presentations. 

• Assist in preparation of Initial 60-day reviews and Annual Administrative and Investment reviews for various relationship managers.  Ability to read plan agreements. 

• Assist the relationship manager with proper tracking and completion of required annual compliance notices (Safe Harbor, QDIA, and Auto-Enrollment) and DOL 408(b)(2) Plan Sponsor disclosure statements along with annual 404(a)(5) Participant disclosure statements. 

• Provide tracking and proper permanent retention of all plan document restatements, amendments, summary of material modifications, new agreements and notifications as required by IRS, DOL or plan sponsor election for both new and existing qualified plans.  

• Search various databases for lost participants taking action to properly locate such employee for reporting of non-responsive plan distributions, tax forms, and final statements. 

• Provide Synergy/imaging support for Employee Benefit forms including: enrollment, investment, beneficiary and distribution forms.  Prepare customer account statements for officer review and mailing. 

• Support Retirement Plan Services Recordkeeping Division with large plan conversions, de-conversions and proper verification, organization and retention of such conversion data.  Assist with data entry when necessary for uploading across platforms. 

• Meet with bank customers in support of Custodial IRA Services.  Prepare and process custodial IRAs and disclosures on the Jack Henry Streamline application including processing of new accounts, contributions and distributions. 

• Act as a dual member in the posting and reconciliation process of all IRA transactions across all FB&T locations.  Verify accuracy of posting and resolve any discrepancies. 

• Assist in all areas of WMS as assigned by the SVP.  

• Act in accordance with FBT policies and procedures as set forth in the employee handbook. 

• Adhere to compliance procedures and participate in required compliance training.