Great-West Financial Empower Retirement

ERISA Consultant

US-MA-Andover | US-MA-Andover | US-KS-Overland Park
1 month ago
Job ID
14543
# Positions
1
Category
Account Operations

Position Highlights

Be Bold Be Brilliant

 

Would you like to be a part of one of America's leading financial services firms? Great-West Financial is the nation’s second largest insurer in sales of individual life insurance through banks. We also offer annuity and executive benefits products. Under Empower Retirement, we provide employer sponsored retirement plans as the nation’s second largest retirement plan provider.

 

Our over 5,000 associates across 40 locations across the country provide world class service to:

 

30,000+ employer sponsored retirement plans

8 million+ employees participating in their employer-sponsored retirement plan

467,700+ individual life insurance and annuity accounts

$460 billion+ total assets under administration

 

The ERISA Consultant is responsible for performing a variety of administrative and analytical functions associated with implementing Defined Contribution (DC) plans. Performing comprehensive reviews of plan documents for legal/operational issues; consulting with internal and external clients regarding best practice plan design; assist with assessment of certain error correction methodology.

Primary Responsibilities

  • Acts as a key contact for new clients.
  • Performs plan document reviews and prepare client assessment outlining recommended changes to ensure documents comply with DC operating practices and regulatory requirements. Negotiate appropriate changes with client and/or client’s legal counsel and ensure proper execution of final documents.
  • Acts as primary contact to facilitate efforts to resolve compliance issues and limit liability.
  • Conducts research and recommend policies on outstanding compliance issues, both general and plan specific, raised during daily operations.
  • Consults with the operating areas of DC on plan document and corporate structural requirements for trust and plan set up on DC systems.
  • Provides accurate and timely reporting on status of assignments as required by Manager.
  • In conjunction with Legal, reviews literature, summaries, and other written materials used internally or externally as guides to the plan’s provisions. This includes participant communications, newsletters, and summaries of a plan’s features.
  • Participates in both pre-sale and post-sale client meetings and presentations as required.
  • Assists in formulating responses to inquiries received in a RFP for prospective clients.
  • Assists management by reviewing and evaluating compliance reporting, documentation, and controls to improve upon the current level of service and to minimize regulatory exposure.
  • Reviews and updates department procedures.

Qualifications

  • Bachelor's degree in related field or equivalent experience
  • Minimum 5 years relevant experience
  • Strong broad-based knowledge of qualified plan design and administration.
  • Strong knowledge of ERISA and the tax code as they relate to employer-sponsored retirement plans.
  • Excellent collaborator with strong interpersonal and presentation skills.
  • Ability to communicate complex information at a level appropriate for the intended audience.
  • Excellent written and verbal communication skills.

 

The above statements are intended to describe the general nature and level of work being performed by individuals assigned to this job. They are not intended to be an exhaustive list of responsibilities, duties and skills.

About Great-West Financial

At Great-West Financial® and Empower Retirement, our more than 5,700 global associates are dedicated to helping customers secure their financial futures. We offer a range of retirement savings products, life insurance, annuities and investment services from offices across the country. If you’re interested in joining a company that enjoys a record of strong performance and is rich in history yet innovative, bold and transformative, then our organization is an outstanding place for you to grow and succeed. We’re an equal opportunity employer dedicated to workforce diversity. We’re also committed to providing a drug-free workplace.

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