Compliance Auditor

Teachers' Retirement System of the State of Illinois • Springfield, IL

3d • $65,577 - $102,300

About The Position

It is inspiring to work in an organization where individuals are deeply committed to the mission and values that drive our success. We are dedicated to delivering expert pension service to Illinois public educators as they earn their promised retirement security. Under the supervision of the Employer Services Supervisor or Manager, the Compliance Auditor I performs a variety of audit functions for TRS to ensure salary and service credit information reported by TRS-covered employers comply with the Illinois Pension Code and the related administrative rules. With over 140,000 eligible members and almost 1,000 covered employees, the Compliance Auditor I plays a pivotal role in the back-office operations of auditing contributions. The incumbent must possess organizational skills and the ability to communicate effectively with coworkers, employers and members both verbally and through written correspondence. Advanced knowledge and understanding of defined benefit contributions and the regulations that govern them are required. This position is primarily responsible for auditing Annual Reports and assisting employers with pay-period reporting. In addition, this position is responsible for the completion of Supplementary Reports, Sick Leave Certifications, and Employer’s Report of Adjustments to Earnings. The employer training and audits of Annual Reports, Supplementary Reports, Employer’s Report of Adjustments to Earnings, Sick Leave Certifications, Gemini Reports, and review of collective bargaining agreements are conducted in accordance with organizational policies and sound audit practices. This position requires extensive collaboration, sound decision making skills, the ability to properly structure activities in a manner that allows for the timely completion of assignments, tasks, and goals. The greatest challenge for this position is to quickly and efficiently complete large volumes of work without sacrificing quality. Overnight travel may be required.

Requirements

• Requires completion of a bachelor’s degree in accounting, math, economics, or related field OR five years of experience in accounting or auditing position is required in lieu of a degree.
• Strong analytical and organizational skills, with the ability to communicate effectively—both verbally and in writing—with coworkers and the public in a clear and professional manner.
• Effectively and efficiently prioritize all assignments, tasks, and miscellaneous requests.
• Maintain a high standard of work quality by ensuring that no more than 20% of submitted work is returned with review notes.

Responsibilities

• Maintain an understanding of statutory requirements, board rules, policies and procedures that determine creditable earnings and service credit
• Address and resolve issues pertaining to incorrect reporting with employers, via verbal as well as written communications. This requires collaboration and detailed documentation of the resolution.
• Review and process post Adjustments to Earnings (ATEs) transactions to correct member service credit, salary rates, or creditable earnings; sources include employer inquiries, and annual report reviews.
• Conduct thorough audits of supplementary reports, member sick leave records, and district collective bargaining agreements to ensure accuracy and compliance with the Illinois Pension Code, board rules, policies and procedures.
• Review and verify district documentation supporting the number of sick leave days reported as service credit for TRS members.
• Conduct thorough audits of supplementary reports submitted by reporting districts to expedite the retirement process for TRS members.
• Review and verify all supplementary report documentation submitted by districts for reporting accuracy and compliance, including employment type, service credit and creditable earnings.
• Conduct timely and comprehensive audits of annual reports to ensure accuracy, completeness, and compliance with regulatory requirements.
• Collaborate with finance, accounting, and reporting districts to gather necessary documentation and explanations to finalize earnings and service credit information submitted for reporting members.
• Identify and investigate discrepancies, inconsistencies, and areas of concern in retirement contributions submitted by reporting districts.
• Analyze the root cause of reporting errors by districts in the Gemini payroll reporting system and implement corrective actions to resolve the error.
• Gather all needed documentation from the employer. Collaborate with various departments to gather the information and documentation required to prevent the recurrence of the identified issue.
• Provide assistance to employers, members, and annuitants, offering guidance on reporting requirements encompassing automated reporting, managing excess salary increases, granted sick leave days, and navigating through current service and post-retirement employment limitations, ensuring clarity and compliance with rules and regulations.
• Assist employers with plan questions, including but not limited to meeting one on one with employers to walk them through the employer reporting process in Gemini or performing outreach to employers regarding erroneous information provided and assisting these employers with reporting in Gemini.
• Research members employed at multiple school districts to verify the accuracy of the combined annual salary rate and combined service credit calculated by the system.
• Assist other departments in answering inquiries and resolving employer related issues, via verbal as well as written communications.
• Participate in training and educational opportunities to support ongoing professional development.
• Respond to incoming calls in a timely and professional manner while maintaining productivity in other assigned tasks.
• Perform other duties as needed or assigned.

Benefits

• TRS is an agency of the State of Illinois. As such, full and part-time employees are eligible for the State of Illinois comprehensive benefits program which includes medical, dental and vision coverage.
• All employees participate in the TRS retirement pension plan and have the option to contribute to additional State of Illinois deferred compensation plans.
• The TRS pension plan is a reciprocal system to other state and local pension plans (SERS, SURS, IMRF, etc.)

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level