Plan Compliance Specialist
Who are we?
Vestwell provides every employee in America with access to a retirement account by removing the friction points financial advisors and companies have in establishing and maintaining defined contribution & benefit programs. We look out for everyone’s best interest, including financial advisors, companies and employees.
Vestwell is at the forefront of a wave of change in a $11 trillion 401(k) market; creating a new platform that lowers fees and ensures that individuals retire wealthier. We’ve raised some money from great investors in the Fintech and Finserv world to achieve this goal and are already getting a great response from customers.
Who are we looking for?
Vestwell is expanding and we’re excited about adding a Plan Compliance Specialist to our client-facing team who is passionate about our mission to change the retirement FinTech space. At a high level, we’re looking for someone to lead our effort to administer retirement plans to the Vestwell platform. Ideally, you have spent 3-8 years working with advisors, sponsors, recordkeepers and/or TPAs running plan designs, annual reviews and administering the 5500 process.
What will you be doing at Vestwell?
A key component of Vestwell’s mission to empower retirement savings includes bundled fiduciary services and oversight. As a Plan Compliance Specialist you will assist advisors and sponsors with their plan design and compliance reviews in additional to regular monitoring our plans to ensure they are being administered correctly.
Day-to-day you will also be expected to:
- ERISA subject matter expertise - the Plan Compliance Specialist will need to take a leadership role in overseeing the delivery of required plan notices, fee disclosures, benefits administration issues, and assume general oversight responsibility for our third party service providers performing compliance testing, Form 5500 preparation, and other plan-related activities.
- Strong communicator who can coordinate and follow up on the steps to implement new and existing plans onto our technology platform with financial advisors, plan sponsors, prior record keepers, and/or third party administrators.
- Keen attention to detail, deadlines, and customer service needs - the Plan Compliance Specialist will need to collaborate with internal stakeholders and with clients to clearly communicate the timing and other requirements of all deliverables.
- Self-starter, proactive leader who will manage the retirement plan design process to make sure plan features are in line with the sponsor's expectations and other requirements.
- Team player who will support internal product development to constantly improve and innovate our technology platform.
- 3-5 years defined contribution experience including client service, plan administration, ERISA compliance, plan design and/or conversion experience for 401(k) and/or 403(b) plans.
- Understands the value of developing and maintaining strong business partnership with financial advisors, plan sponsors and vendors.
- Bachelor's degree or equivalent.
- Strong and demonstrated commitment to superior customer service.
- Experience in successfully handling high volume workload and bulk plan conversions.
- Understanding of the entire conversion process from point of sale to release of conversion data.
- Positive, collaborative, and proactive attitude.
- Proficiency with Excel/Google Sheets, Word/Google Docs, Adobe Acrobat, and browsing network directories as we are a paperless office.
- Excellent attention to detail and accuracy, proficient with numbers and basic calculations.
- Knowledge of one or more recordkeeping systems like Sungard Relius.
- Series 65 license.
- Qualified 401(k) Administrator (QKA) credential
We’re an early stage startup with lots of exciting milestones ahead. We value health and wellness at Vestwell and, as such, offer competitive health coverage, an open vacation policy, coffee, cappuccino & healthy snacks, and a bright, comfortable office with lots of workspace options so you can be comfortable and as productive as possible. And naturally we have a great 401(k) plan!