Responsible for coordinating the transfer/depletion of assets for plans that are terminating their contracts with Empower Retirement ensuring compliance with all applicable regulations and according to specific client objectives.
Deconversion/contract termination: Successfully coordinate the transfer of multi-million dollar plans including the transfer of secure Class 1 Data to successor carriers. In conjunction with Legal, ensures all contractual obligations are met within the provisions provided. Follows through to make sure that all activities are addressed according to schedule to ensure timely deliver of assets and records within required timeframes.
Plan Terminations: Coordinate the successful depletion of assets and transition to closure for plan that will cease to exist and will no longer be offered. Obtains legal documentation and direction to update vesting, collect fees, distribute forfeiture assets, compliance test, file for letters of determination and force unresponsive participants form the plan in order to fully distribute plan assets to participants.
Work with multiple areas and contacts, both internal and external, to ensure an effective transition, with consideration for receivables due, fund and trading restrictions, plan activity, reporting needs and timing.
Work with multiple system platforms including the internal record keeping system, Remedy, SAP and Access.
Support manager with special projects and workload.
Other duties as assigned.
Associate's Degree, preferably in a business related field. Without a degree, one year relevant work experience
FINRA 6 license is optional but not required
Strong customer service experience and skills required, preferably in a financial service related field
Knowledge of retirement plans (401(k), 403(b), 457, NQDC, IRA, etc.) as well as multiple product lines
Strong working knowledge of the internal record keeping system
Proficiency in MS Office (Excel/Word)
Ability to work within prescribed deadlines and in a team environment
Strong organizational skills, attention to detail, written and verbal communication skills required
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
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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