ESOP Trustee

Merit Financial Advisors • Remote, GA

19h • Onsite

About The Position

The Employee Stock Ownership Plan (ESOP) Trustee is responsible for acting in the best interest of the employee-owners, ensuring the effective management and administration of the company’s ESOP. The trustee must be knowledgeable about the legal, financial, and regulatory aspects of ESOPs and must ensure that the plan complies with all applicable laws and fiduciary responsibilities.

Merit is a fast growing, pioneering financial services firm that invests heavily in the growth and development of team members. Merit seeks to establish, educate, and help individuals reach their financial goals as they transition into and experience retirement. With an unswerving commitment to excellence and reliability, Merit provides objective financial advice and believes in establishing long-lasting relationships. By offering an array of services, clients can receive tailored solutions that promote growth and help them achieve financial goals.
Merit believes in addressing the retirement challenges in America by helping clients reach financial freedom and confidence to the working population and retirees alike. This focus on comprehensive financial wellness enables us to deliver the ultimate client experience.
Headquartered in Alpharetta, GA, with 39 locations across the country, Merit balances tactical advice with innovative strategy. Our 250 hardworking employees are leaders rooted in humility and we are poised to grow. Merit is a multi-generational firm with a foundation built around servant leadership and total team leadership. We have been recognized as a “Best Places to Work” by InvestmentNews and have made the fastest growing companies list in both INC 5000 and Georgia’s Fastest 40. As we expand and work to bring our relationship-driven approach to the financial industry, we are looking for the right individuals to join our team.

Requirements

• Bachelor’s degree in Finance, Accounting, Business, or a related field.
• Minimum of 5 years of experience in employee benefits administration, fiduciary services, or a related field.
• Experience with ESOPs and familiarity with ERISA and other regulatory guidelines is strongly preferred.
• Strong knowledge of ESOP regulations, structure, and compliance.
• Excellent board room presence and presentation skills.
• Strong knowledge of ESOP regulations and fiduciary duties.
• Excellent analytical, problem-solving, and decision-making skills.
• Strong communication skills, with the ability to explain complex concepts to a diverse audience.
• Ability to manage relationships with third-party service providers and stakeholders.
• Attention to detail and strong organizational skills.

Nice To Haves

• CPA, JD, or other professional designation related to ESOPs or fiduciary duties is preferred.
• Any certifications such as Project Management Professional (PMP), Certified Scrum Master (CSM), or PRINCE2 certification are a plus.

Responsibilities

• Act as a fiduciary to the ESOP plan participants, ensuring the plan operates in accordance with ERISA (Employee Retirement Income Security Act) guidelines.
• Ensure the interests of the employees are protected, making decisions that benefit the employee-owners while minimizing conflicts of interest.
• Oversee the administration of the ESOP, ensuring the timely and accurate distribution of shares and contributions.
• Collaborate with third-party service providers such as recordkeepers, appraisers, and legal advisors to manage the day-to-day operations of the ESOP.
• Ensure that the ESOP’s annual valuations are conducted properly and fairly, taking into account the current financial standing of the company and fair market value of shares.
• Review and approve the independent appraiser’s reports and any adjustments to the ESOP share price.
• Ensure compliance with all applicable federal and state laws, including the IRS, DOL, and ERISA regulations.
• Ensure that the ESOP meets the requirements for tax-qualified status and other regulatory obligations.
• Ensure that all required reports, filings, and disclosures are completed in a timely manner, including Form 5500, summary plan descriptions, and participant communications.
• Communicate effectively with company management, employees, and other stakeholders about the ESOP's performance and any changes or updates to the plan.
• Address any disputes or concerns related to the ESOP, including issues around share allocations, distributions, and participant eligibility.
• Work with legal counsel to resolve conflicts and ensure compliance with all regulations.
• Make informed decisions regarding ESOP transactions, such as the purchase or sale of company stock, in line with the plan’s goals and legal requirements.
• Approve any changes to the plan or amendments that affect the structure or operations of the ESOP.
• Conduct periodic reviews of the ESOP’s performance, including its financial health, share allocation, and distribution methods.
• Evaluate the plan’s effectiveness in achieving the company’s goals and the financial wellbeing of employees.
• Ensure that company leadership and employees are educated on the ESOP structure, benefits, and responsibilities.
• Stay informed on developments in ESOP regulations, trends, and best practices.
• Ensure leadership is aware of other ways Merit can help their company, their leadership and their other employees. Bringing in subject matter experts where appropriate.

Benefits

• Medical Insurance
• Dental/Vision Insurance
• Life & Personal Accident Insurance
• Short-term Disability Insurance
• Long-term Disability Insurance
• Flexible Spending Account (FSA), Health Savings Account (HSA) or Dependent Care FSA
• 401(k) Plan with company matching
• Paid Time Off (PTO) and paid holidays

What This Job Offers

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