Retirement Plans Administrator

Middlesex Savings Bank•Westborough, MA

13h•$41,097 - $62,682•Hybrid

About The Position

Plans, organizes, supervises, and monitors the day-to-day activities of the departmental staff during the absence of the Department Manager. Within a defined unit of the department and in conformance with established Bank policies, procedures and objectives, performs any functions, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers and co-workers. This is a Hybrid work schedule, 4 days in the office and 1 day remote in Westborough, Massachusetts. The role is highly focused on IRAS. Training will be on-site.

Requirements

Associate's Degree or equivalent relevant experience plus specialized course work and training
5+ years of retirement plan processing or servicing experience is required.
Strong organization skills and ability to manage multiple tasks without a loss of efficiency and accuracy. Ability to prioritize tasks with an understanding of essential versus non-essential functions.
Good communication, interpersonal, analytical and organizational skills.
Must have an intermediate understanding of accounting concepts and a basic understanding of retirement plans legal documentation.
Required knowledge of Bank's various Deposit and/or retirement products.
Must possess intermediate technology skills, including knowledge of word processing, Adobe and Excel applications.
Must have scheduling flexibility and be able to work extended and weekend hours as needed.

Nice To Haves

Demonstrated supervisory ability is preferred.

Responsibilities

May supervise and oversee the departmental staff in the absence of the manager. Provides ongoing counsel, training, development and motivation.
Assists the department manager with day-to day workflow of assigned team. Responds to and resolves complex servicing inquiries, research, and pending issues within level of authority.
Serves as a Senior Retirement Plans Specialist as needed. Provides back-up for all positions within the department.
Assists in the training and development of departmental staff; introduces and orients new and existing staff to current products, services, procedures, and systems. Provides information and feedback to Management in preparing performance appraisals.
Assists in the testing, training and implementation of System Upgrades.
Acts as liaison between internal and external customers and the Retirements Department. Escalates larger issues to Management for corrective action and long-term resolution.
Maintains proficiency in regulatory compliance and industry developments for assigned areas. Trains team members on any new regulatory procedures that need to be implemented within the department. Recommends procedural changes to support prescribed requirements.
Maintains proficiency in Legal processes such as levies, subpoenas, and “transfer incident to divorce” as they relate to retirement plans.
Ensures full compliance with the Bank’s Information Security Policies and Procedures and with State, and Federal reporting schedules, deadlines and regulations.
Acts as subject matter expert for assigned servicing area by providing an intermediate to advanced understanding of the legal documentation associated with Retirement accounts. Uses sound judgment to make decisions or recommendations with limited or moderate supervision within assigned authority.
Prepares certain periodic IRA reports for office, department and senior management.
Work with technology team to coordinate IRA tax processing, Year End Tax Reporting, system upgrade and release testing.
Provide approval on Retirement Checks, and any other bank documents within the appropriate level of authority.
Refers sales opportunities to other departments or bank affiliates in support of established objectives.
Performs related and unrelated duties as may be required.