Job Description:
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.
Serve as a resource to retirement plan consultants for matters related to Trust Accounting. This person will focus on reconciling trust assets for Defined Contribution, Defined Benefit, and/or Cash Balance plans. A Trust Analyst will be handling multiple priorities and deadlines. Retirement Plan Consultant is able to handle client meetings both in person and via phone.
Job Functions, Essential Duties and Responsibilities
- Input trust data from brokerage reports, bank statements and other financial documents
- Reconcile and balance debit and credit entries in order to prepare reports
- Organize trust files/statements within client folders
- Review and reconcile loan and distribution transactions
- Analyze numeric information and identify discrepancies
- Identify missing information, list reconciliation issues and communicate with Retirement Plan Consultants
- Prepare follow up letters relating to trust issues
- Review non-qualifying assets
- Identify assets held at more than 20% of plan assets
- Track late deferral deposits and calculate interest
- Meet / exceed all quality, productivity and turnaround goals
- Ability to work overtime to meet business deliverables
- Assists retirement plan consultants on plan audits, if applicable
- Provide timely, superior customer service, including problem solving and issue resolution with minimal inconvenience to clients
- Provides effective verbal and written communications in a clear, concise and informative manner
- Responsible for protecting, securing, and proper handling of all confidential data held by Ascensus to ensure against unauthorized access, improper transmission, and/or unapproved disclosure of information that could result in harm to Ascensus or our clients.
- Our I-Client service philosophy and our Core Values of People Matter, Quality First and Integrity Always should be visible in your actions on a day to day basis showing your support of our organizational culture.
- Assist with other tasks and projects as assigned
Experience, Skills, Knowledge Requirements
- General knowledge of types of pension plans and their financial arrangements.
- Basic understanding of financial reporting requirements of IRS Form 5500 and related attachments
- Understanding of account reconciliation methods
- Knowledge of participant loans, partnership valuations, employer stock investments and reporting of insurance policies
- Understands how trust accounting relates to our pension software
- Effective oral and written communication skills
- Analytical and critical-thinking skills
- Organization and prioritization skills
- Ability to work independently
- Excellent Interpersonal skills
- Intermediate Excel: Ability to develop and use spreadsheets
- Intermediate Word: Ability to create letters and documents
- 10-Key: Proficient use to input quantities of numeric data
We are proud to be an Equal Opportunity Employer
At Ascensus, we aspire to make a difference for others. We are a technology-enabled services company that helps people save for retirement, education, and healthcare through our network of institutional, financial advisor, and state partners. Our culture is guided by sound principles, is committed to high standards, operates with transparency, and welcomes diversity-housed within our Core Values: People Matter. Quality First. Integrity Always.
As a leading independent recordkeeping services partner, retirement plan third-party administrator, and government savings facilitator, we aim to hire associates who find pride in going to work every day knowing that they help more than 12 million people save for what matters.
Ascensus provides equal employment opportunities to all associates and applicants for employment without regard to ancestry, race, color, religion, sex, (including pregnancy, childbirth, breastfeeding and/or related medical conditions), gender, gender identity, gender expression, national origin, age, physical or mental disability, medical condition (including cancer and genetic characteristics), marital status, military or veteran status, genetic information, sexual orientation, criminal conviction record or any other protected category in accordance with applicable federal, state, or local laws ("Protected Status").