Compliance Analyst

Manulife•Boston, MA

21h•Hybrid

About The Position

As a Compliance Analyst, you will perform a range of compliance tests for our defined contribution compliance clients and prepare the Form 5500 and related schedules for both Defined Benefit and Defined Contribution clients to ensure plans are following IRS qualification requirements. Additional tasks may include responding to annual plan audit inquiries, preparing Form 5330’s and/or calculating Required Minimum Distributions. This is a Hybrid work arrangement requiring you to be in office 3 days per week (Tues, Wed, Thurs) in either the Boston USA office or the Halifax/Toronto Canadian office locations.

Requirements

Bachelor’s degree in finance, business, or related field
Minimum 4-5 years of related financial services industry experience
Knowledge of and experience with: ADP testing (IRC section 401(k)); ACP testing (IRC section 401(m)); Elective Deferral limit (IRC section 402(g)); Annual Additions limit (IRC section 415(c)(1)); Highly Compensated Employee determination (IRC 414(q)); Annual Compensation limit (IRC section 401(a)(17)); General discrimination (IRC section 401(a)(4)); Coverage testing (IRC section 410(b))
Knowledge of Form 5500 and related schedules
Ability to assess problems and appropriately apply technical knowledge to deliver accurate solutions for general compliance issues
Ability to prioritize, organize, and work on multiple issues simultaneously
Attention to detail and accuracy
Maintain high level of service excellence

Responsibilities

Assist client through electronic filing process
Respond to annual plan audit inquiries such as plan reconciliation, Fair Value determination and direct/indirect compensation inquiries
Perform Annual Compliance Testing
Coordinate with internal/external contacts to perform compliance-related tasks.
Proactively develop and maintain the technical and regulatory knowledge required to perform these functions, including applicable Internal Revenue Codes, regulations, and testing procedures
Ability to communicate clearly to non-technical audiences on defined contribution compliance issues
Complete special projects as assigned in accordance with communicated expectations
Prepare Signature Ready Form 5500, Form 8955-SSA and Summary Annual Report (SAR)
Timely and accurate completion of Annual Testing, Form 5500, Form 8955-SSA and plan corrections in accordance with IRS/DOL deadlines to avoid penalties
Perform Annual Compliance Testing (ADP testing (IRC section 401(k)); ACP testing (IRC section 401(m)); Elective Deferral limit (IRC section 402(g)); Annual Additions limit (IRC section 415(c)(1)); Highly Compensated Employee determination (IRC 414(q)); Annual Compensation limit (IRC section 401(a)(17)); General discrimination (IRC section 401(a)(4)); Coverage testing (IRC section 410(b))
Calculate Required Minimum Contributions
Prepare Form 5330 for late contributions
Complete ERISA requests such as Projected Testing, Match Study, Auto Enroll Analysis, etc.
Perform Average Benefit Testing, Benefits Rights and Feature Testing as needed
Monitor 402(g) excesses
Process plan limit excesses