Retirement Account Administrator

Employer
Alerus Financial
Location
Arden Hills, Minnesota
Salary
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Industry
General
Role
Other
Job Type
Long-Term
Hours
Full Time

Job Details

Position Summary:
Help foster a cohesive service team by directing workflow, supporting strong communication and displaying good judgment and leadership to ensure the proper administration of all plans. Responsible for client service, compliance and Form 5500 reporting of an assigned group of retirement plans, typically 60-70 plans. Plan assignment may include employee stock ownership plans (ESOP).

Essential Responsibilities
Job Function 1: Client Service - 40%
  • Proactively manage assigned client relationships to achieve or exceed client service satisfaction and Alerus Retirement and Benefits (ARB) retention standards.
  • Develop and maintain positive working relationships and open lines of communication with internal and external clients.
  • Keep Manager/Supervisor informed of sensitive issues and proactively work with Business Advisor, Retirement Specialist or Retirement Specialist (BARS/RS) to retain key clients and assets.
  • Work with Manager/Supervisor to resolve technical, service and compliance issues to ensure client satisfaction without jeopardizing regulatory requirements and service standards.
  • Assist in client feedback efforts and work with BARS/RS to identify and resolve service issues as well as meet long-term client needs.
  • Meet service standards. Proactively notify Manager/Supervisor and client (as appropriate) if standards will not be met.
  • Timely response to internal and external inquiries.


Job Function 2: Compliance and Form 5500 Reporting - 40%
  • Monitor receipt of client's census information to prioritize completion of compliance tests and/or Form 5500 reporting for an assigned set of plans.
  • Understand and interpret plan document and contract provisions and apply experience and judgment to situational problem resolution. Work with Manager/Supervisor and/or RRM if needed.
  • If assigned ESOP plans, possess the necessary skills to administer ESOPs which includes an understanding of the valuation process, updating participant records and delivery of the year-end annual valuation report and participant statements.
  • Ensure that appropriate compliance tests are accurate and completed within standards.
  • Ensure Form 5500 and Summary Annual Report is accurate and completed within standards.
  • Identify changes/amendments needed to documents due to client requests.
  • Independently administer more complex defined contributions plans.


Job Function 3: Leadership and Engagement - 20%
  • Actively engage in the success of ARB and Alerus, promoting and supporting new and ongoing initiatives with positive active team involvement resulting in a successful outcome.
  • Participate in projects to improve the products and services offered by ARB, including project groups tasked with developing enhanced procedures or policies.
  • Participate in meetings for the company, department and administration unit.
  • Treat all clients and co-workers with professionalism.
  • Support and promote communication within the service team through direct communication, Salesforce and other available tools as needed in order to build strong internal relationships.
  • Actively support the use of Salesforce by documenting pertinent communications with clients and others as applicable.
  • Recognize and celebrate individual/team accomplishments.
  • Provide training and support to analysts and less experienced account administrators.

Position Requirements:
Qualifications:
  • Minimum of 1 year experience in defined contribution retirement plan compliance or testing required. 3 or more years' of experience, preferred.
  • Good written/oral communication, organization, and client service skills required.
  • Ability to maintain professional working relationships with internal and external clients.
  • Ability to work independently and set priorities.
  • Ability to interpret documents and resolve technical problems.
  • Available to work overtime to cover peak workloads and other business needs.
  • Basic knowledge of Microsoft Word and Excel.
  • Possess or have an established plan to complete ASPPA's Retirement Plan Fundamentals Certification (RPF).


Personal Characteristics:
  • Demonstrated relational skills such as diplomacy, judgment, decision making and discretion.
  • Demonstrated critical thinking abilities.
  • Initiative, creativity and energetic active engagement in all work responsibilities.
  • Ability to multi-task, prioritize workflow of self and others and coordinate activity as an effective team member to meet deadlines and make effective decisions under pressure.
  • Established communication, presentation and organizational skills.
  • Demonstrated professional business skills and demeanor.
  • Demonstrated ability to identify and problem solve complex situations. Apply judgment with respect to high level business impact and risk.


Physical Demands - Must be met with or without a reasonable accommodation
  • Extended periods of time at a desk and using office equipment.
  • Ability to operate a personal computer/laptop for approximately 8 hours per day.
  • Extended time is spent reviewing physical and electronic documents.
  • The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl. Vision abilities required by this job include close vision.
  • Periodically, may also do light lifting of supplies and materials which weighs in at approximately 20 lbs.
  • Will spend most of time in an indoor environment.
  • Ability to travel as needed to other markets and locations.

Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

Company

Alerus is a company that will challenge you to be at your best and where your efforts have real, tangible effects. Our culture is one of collaboration, innovation, forward-thinking, and giving back. And, as a growing company with a presence in markets from New Hampshire to Arizona, we offer a broad range of opportunities for you to travel the career path that matches your abilities, interests, and goals.

What is the current company culture like?

While our footprint spans North Dakota, Minnesota, Arizona, New Hampshire, and Michigan, we still operate like a small company. In other words, every single person on our team matters. Our employees create our culture.

What skills, education, and experiences does your ideal candidate(s) have? Each position has their own specific requirements and qualifications. In addition to those, Alerus seeks people who live out our fundamental beliefs every day: do the right thing, cherish people, empower with knowledge, respect everyone, serve with passion, and embrace change.

How would you describe the company leadership/team management? Alerus has a diverse executive and leadership team. Each leader comes with a wealth of experience and knowledge within their field to help their teams succeed. Alerus leaders, including our C*Suite executives, maintain regular communication with employees on company updates and goals.

Where do you see the company/organization in the upcoming years? Alerus has bank and office locations in North Dakota, Minnesota, Michigan, New Hampshire and Arizona. While we continue to serve our clients in these states we also look to grow our national footprint to best serve clients wherever they may live.

What do you feel candidates need to know about the company before applying? Alerus is more than just a bank and offers many products for our clients including personal & business banking, mortgages, wealth management and retirement savings. We continue to grow and expand but still maintain and operate with a small business feel. We would not have continued success without our employees and all the hard work they do to serve our clients with passion.

See the current Alerus job openings below!

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