Retirement Plan Compliance Administrator Job in Houston 77019, Texas Us
Compliance Administrator - Full Compliance Services Department
About VALIC:
VALIC specializes in retirement savings and investment products and services, including individual variable and fixed annuities, group retirement products, mutual funds, financial planning and investment advisory services and guaranteed investment contracts. VALIC has more than half a century of experience helping Americans plan for and enjoy a secure retirement and we are a leading provider to K-12 schools, higher education, government and healthcare institutions. VALIC has been in the 403(b) market since its inception writing the first K-12 403(b) program almost 50 years ago.
Position Overview:
This position will provide support to plan sponsors by providing the following activities: working with controlled and/or affiliated service groups; collection of census, plan, and client data; the input of employer data to a pension system and setting up proper plan files; monitoring plan activities, including contributions and distributions, for ongoing compliance with regulations; distribution and filing of amendments; preparation and filing of 5500/5558/5330 forms; performing all nondiscrimination testing (including but not limited to 402(g), 415(c), ADP, ACP, Top Heavy, Coverage - ratio percent and average benefits, 414(s) Compensation) and providing appropriate reports to employers.
Organization:
This position will report to one of two Full Compliance Managers within the VALIC Institutional Services department. There are 19 associates including the two managers on this team.
Within 6-12 months you would be expected to:
- Understand and articulate compliance testing results as well as plan design and plan document issues
- Quality review for 100% accuracy
- Effectively communicate responses to email and telephone inquiries concerning client related issues as they apply to individual and group compliance testing and regulatory deadlines
Responsibilities:
- Successfully maintain a caseload of 22-27 plans of various size and complexity; may include controlled groups and individually designed plan documents
- Operating day-to-day administrative systems including ASC compliance testing system, Relius; VALIC record keeping system, departmental databases, and other document generation systems
- Update the departments Plan Manager, PA Activity, Distribution, and Compliance Testing databases and verify accuracy of the Distribution Restriction Messages (DRMs) to their respective plan provisions
- Timely and accurately bill 100% of the fees for full service, partial service, and 5500 only cases within department standards, as well as follow-up on late or overdue client billings via second invoices and established procedures
- Provide supplemental reporting to management as needed - Work closely with clients, the field, and Relationship Management to obtain census data and supporting documents from your clients
- Identify opportunities to consult with group clients to simplify and/or improve plan design. Partner with management to present proposed changes to clients
- Coordinate with internal partners such as Legal, Marketing, Operations and IT to perform functions related to the compliance of assigned pension plans
- Meet all regulatory deadlines (ADP/ACP, Form 5330, Form 5500 or extension, 402(g), etc.)
- Attend seminars/trainings on IRS, DOL or industry related issues and present findings to department
The best people doing this job are analytical, problem solvers who have the ability to view processes as a whole in order to provide and execute solutions. They have excellent client relationship management skills and are able to articulate complex information appropriately based on the knowledge level of the recipient of the information. They have a high attention to detail ensuring 100% accuracy and are able to work in a fast paced, service oriented environment.
Requirements:
- Understand and articulate regulatory requirements
- Experience navigating through complex financial data and performing quality review
- Experience with file format manipulation
- Demonstrate proficient to expert level skills in Microsoft Office especially Excel, Word and Access
- Technical aptitude to rapidly acquire expertise with various VALIC in-house systems
About Us
SunAmerica Financial Group is one of the largest life insurance organizations in the United States based on over $236 billion of admitted assets as of June 30, 2011. Serving over 18 million customers, SunAmerica Financial Group is comprised of several leading life insurance and retirement services businesses, including American General Life Companies, AGLA, VALIC, Western National Life Insurance Company, SunAmerica Retirement Markets, SunAmerica Mutual Funds, SunAmerica Affordable Housing Partners, FSC Securities, Royal Alliance and SagePoint Financial. The unified businesses offer a comprehensive suite of life insurance, retirement savings products and guaranteed income solutions through an established multi-channel distribution network that includes banks, national, regional and independent broker-dealers, career Financial Advisors, wholesale life brokers, insurance agents and a direct to consumer platform. Equal Opportunity Employer.
