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Compliance Consultant - Retirement

Job Description:

Business Overview

Retirement & Personal Wealth Solutions (RPWS) serves the core financial needs of individual clients and plan participants by providing best in class, integrated products in the most intuitive, efficient and client friendly way while maintaining a forward thinking mindset and risk management focus.  RPWS is responsible for both the institutional and personal retirement capability set to include 401(k), Equity and Health Benefit plans for companies of all sizes as well as college savings, personal retirement planning, retirement income, insurance and estate planning for individuals. RPWS also provides tools and content that enables advisors and bankers to help their client’s live their best financial lives.

Job Description:

This position is responsible for all Plan Technical Services functions, including raising the level of service provided to clients through proactive consulting and effective problem resolution and by raising the overall level of technical expertise of the Bank of America Merrill Lynch Institutional Retirement Division. 

The incumbent will assess the impact of new regulations on clients and will be relied upon as a subject matter expert in areas including systems development, in-house training and communication drafting.  Comprehensive knowledge of IRC, DOL, ERISA and new legislation, most specifically as they apply to defined contribution plans, necessary. 

A significant objective of this position is to act as a point person for raising the image of the Plan Services to employees, clients and Financial Advisors.  This includes: written communication to clients, speaking at Retirement & Philanthropy Services sponsored Client Forums, training internally, conference calls and visits with specific clients, and generally acting as a Subject Matter Expert.

More specifically, this position requires a strong working knowledge of non-discrimination testing, Form 5500 Audit, restatement processes and prototype plan design.  

Daily responsibilities include:

  • Updating and creating plan sponsor and internal communications on a wide variety of topics including manuals on nondiscrimination testing and annual reporting, and booklets on required minimum distributions, mergers and acquisitions, short plan years, multiple employer plans, EPCRS and other topics.  Strong research and writing skills required. 

•       Conducting proactive consulting calls with internal 401(k) Client Service Managers on technical issues.  Strong verbal communication skills a must, since frequent interaction is conducted with senior level client contacts.

  • Resolving technical issues is a large part of this position, such as issues related to nondiscrimination testing, annual reporting, loans late and missed contributions, erroneous distributions, and hardship withdrawals.  The Retirement Consultant will improve the client experience and minimize exposure through timely responses to requests for assistance and resolution of servicing concerns.
  • Administering training seminars for the firm and branch office staff on topics that affect all aspects of retirement plan servicing and regulatory updates.
  • Managing a variety of special retirement compliance-related projects that enhance the quality of service provided to our clients.

Requirements:

  • 10+ year’s experience in defined contribution plan compliance
  • Bachelors degree strongly preferred
  • 401(k) operations knowledge is required
  • ASPPA Designation or similar industry certification preferred

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0 -->

Job Description:

Business Overview

Retirement & Personal Wealth Solutions (RPWS) serves the core financial needs of individual clients and plan participants by providing best in class, integrated products in the most intuitive, efficient and client friendly way while maintaining a forward thinking mindset and risk management focus.  RPWS is responsible for both the institutional and personal retirement capability set to include 401(k), Equity and Health Benefit plans for companies of all sizes as well as college savings, personal retirement planning, retirement income, insurance and estate planning for individuals. RPWS also provides tools and content that enables advisors and bankers to help their client’s live their best financial lives.

Job Description:

This position is responsible for all Plan Technical Services functions, including raising the level of service provided to clients through proactive consulting and effective problem resolution and by raising the overall level of technical expertise of the Bank of America Merrill Lynch Institutional Retirement Division. 

The incumbent will assess the impact of new regulations on clients and will be relied upon as a subject matter expert in areas including systems development, in-house training and communication drafting.  Comprehensive knowledge of IRC, DOL, ERISA and new legislation, most specifically as they apply to defined contribution plans, necessary. 

A significant objective of this position is to act as a point person for raising the image of the Plan Services to employees, clients and Financial Advisors.  This includes: written communication to clients, speaking at Retirement & Philanthropy Services sponsored Client Forums, training internally, conference calls and visits with specific clients, and generally acting as a Subject Matter Expert.

More specifically, this position requires a strong working knowledge of non-discrimination testing, Form 5500 Audit, restatement processes and prototype plan design.  

Daily responsibilities include:

  • Updating and creating plan sponsor and internal communications on a wide variety of topics including manuals on nondiscrimination testing and annual reporting, and booklets on required minimum distributions, mergers and acquisitions, short plan years, multiple employer plans, EPCRS and other topics.  Strong research and writing skills required. 

•       Conducting proactive consulting calls with internal 401(k) Client Service Managers on technical issues.  Strong verbal communication skills a must, since frequent interaction is conducted with senior level client contacts.

  • Resolving technical issues is a large part of this position, such as issues related to nondiscrimination testing, annual reporting, loans late and missed contributions, erroneous distributions, and hardship withdrawals.  The Retirement Consultant will improve the client experience and minimize exposure through timely responses to requests for assistance and resolution of servicing concerns.
  • Administering training seminars for the firm and branch office staff on topics that affect all aspects of retirement plan servicing and regulatory updates.
  • Managing a variety of special retirement compliance-related projects that enhance the quality of service provided to our clients.

Requirements:

  • 10+ year’s experience in defined contribution plan compliance
  • Bachelors degree strongly preferred
  • 401(k) operations knowledge is required
  • ASPPA Designation or similar industry certification preferred

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description: Business Overview

Retirement & Personal Wealth Solutions (RPWS) serves the core financial needs of individual clients and plan participants by providing best in class, integrated products in the most intuitive, efficient and client friendly way while maintaining a forward thinking mindset and risk management focus.  RPWS is responsible for both the institutional and personal retirement capability set to include 401(k), Equity and Health Benefit plans for companies of all sizes as well as college savings, personal retirement planning, retirement income, insurance and estate planning for individuals. RPWS also provides tools and content that enables advisors and bankers to help their client’s live their best financial lives.

Job Description:

This position is responsible for all Plan Technical Services functions, including raising the level of service provided to clients through proactive consulting and effective problem resolution and by raising the overall level of technical expertise of the Bank of America Merrill Lynch Institutional Retirement Division. 

The incumbent will assess the impact of new regulations on clients and will be relied upon as a subject matter expert in areas including systems development, in-house training and communication drafting.  Comprehensive knowledge of IRC, DOL, ERISA and new legislation, most specifically as they apply to defined contribution plans, necessary. 

A significant objective of this position is to act as a point person for raising the image of the Plan Services to employees, clients and Financial Advisors.  This includes: written communication to clients, speaking at Retirement & Philanthropy Services sponsored Client Forums, training internally, conference calls and visits with specific clients, and generally acting as a Subject Matter Expert.

More specifically, this position requires a strong working knowledge of non-discrimination testing, Form 5500 Audit, restatement processes and prototype plan design.  

Daily responsibilities include:

  • Updating and creating plan sponsor and internal communications on a wide variety of topics including manuals on nondiscrimination testing and annual reporting, and booklets on required minimum distributions, mergers and acquisitions, short plan years, multiple employer plans, EPCRS and other topics.  Strong research and writing skills required. 

•       Conducting proactive consulting calls with internal 401(k) Client Service Managers on technical issues.  Strong verbal communication skills a must, since frequent interaction is conducted with senior level client contacts.

  • Resolving technical issues is a large part of this position, such as issues related to nondiscrimination testing, annual reporting, loans late and missed contributions, erroneous distributions, and hardship withdrawals.  The Retirement Consultant will improve the client experience and minimize exposure through timely responses to requests for assistance and resolution of servicing concerns.
  • Administering training seminars for the firm and branch office staff on topics that affect all aspects of retirement plan servicing and regulatory updates.
  • Managing a variety of special retirement compliance-related projects that enhance the quality of service provided to our clients.

Requirements:

  • 10+ year’s experience in defined contribution plan compliance
  • Bachelors degree strongly preferred
  • 401(k) operations knowledge is required
  • ASPPA Designation or similar industry certification preferred

Shift:

1st shift (United States of America)

Hours Per Week: 

40
Company
Merrill Lynch
Posted
09/01/2021
Type
Full time
Salary Range
$55,000.00 - 100,000.00
per Year
Salary range estimated by
Location
Charlotte, NC 28245, US