Fiduciary Operations Specialist

About the position

The Fiduciary Operations Specialist at FuturePlan plays a crucial role in supporting clients by managing the administrative tasks associated with plan fiduciaries. This position requires effective communication with plan sponsors and participants, critical thinking, and problem-solving skills. The specialist will also contribute to internal projects and work closely with Client Relationship Managers to ensure smooth operations.

Responsibilities

• Process and review data analytics related to eligibility, plan compensation, deferral/match rates, annual limits, vesting, loan repayments, and timely remittances.
• Handle distributions, loans, and hardship requests.
• Fulfill required notices and enrollment packets.
• Collect and record data from recordkeepers and plan sponsors.
• Communicate with recordkeepers and TPAs to facilitate processes.
• Report significant issues and exceptions to higher authority in a timely manner.
• Perform project work as needed.
• Compile and deliver year-end reporting and fiduciary files through CRMs.
• Enhance and streamline existing 3(16) processes and create new ones as needed in collaboration with the operations coordinator and project manager.
• Act as a point of contact for 3(16) related questions from various internal stakeholders.
• Work with the Fiduciary Services Manager on profitability margins for 3(16) clients.
• Manage operational annual projects impacting the Fiduciary Department by developing and maintaining detailed project schedules.
• Liaise with internal teams to define project requirements, scope, and objectives.
• Apply database knowledge in design, performance, and modification of Fiduciary Assistant Software.
• Perform program optimization and improvement planning, including database performance monitoring and analysis.
• Evaluate import requirements related to payroll software and implement technical solutions.
• Load import files from clients/plan admin and manage workflows for accurate processing.

Requirements

• Bachelor's degree in accounting, business, or human resources, or equivalent business experience.
• Excellent customer service skills.
• Team player, willing to help out where needed.
• Effective communication skills.
• Self-motivated, eager to learn and grow.
• Responsive and efficient with strong organizational skills and attention to detail.
• Proactive innovative thinker with creative problem-solving skills.
• Intermediate knowledge of MS Office Suite.
• Experience with databases and data management.
• Knowledge of general retirement plan administration and/or plan design, or equivalent technical/compliance processing environment.
• Understanding of financial markets and financial service organizations.
• Experience with reconciliation processes.
• Knowledge of payroll processing and payroll deductions related to retirement plans.