Retirement Plan Service Representative

Hub International - South Portland, ME

Full-time - Mid Level

Hybrid - South Portland, ME

10,001+ employees

Insurance Carriers and Related Activities

About the position

The Retirement Plan Service Representative at HUB International is responsible for providing operational and administrative support related to retirement plans. This role involves preparing paperwork for client meetings, tracking the establishment of new plans, and maintaining documentation and recordkeeping requirements. The representative will assist advisors in meeting preparations, report generation, and ensuring compliance with regulatory requirements for 401(k) plans.

Responsibilities

• Assist with meeting preparation for both new and existing plans.
• Prepare plan review reports and due diligence reports for advisor.
• Attend select meetings with the advisor to draft the Fiduciary Plan Review Executive Summary.
• Work with plan sponsor/TPA/recordkeeper to ensure compliance within 401(k) plans.
• Communicate deadlines for plan compliance requirements to advisor or other staff.
• Troubleshoot issues on plans, as necessary.
• Provide scheduling support to education specialist, as needed.
• Track pending paperwork or NIGO'd paperwork; update pending business summary sheet for advisor's attention when documents are outstanding; track and tally all outstanding work weekly.
• Handle phone calls from plan sponsors and participants when appropriate; transfer calls to advisor or other specialist when required.
• Update CRM systems to include client contact information, plan provisions, and vendor information.
• Input/update data to investment analytics system (e.g., RPM, RPAG).
• Maintain electronic and paper files, including archiving files as needed.
• Make recommendations to systematize and improve office functioning.
• Manage vendor relationships on behalf of advisor.
• Stay current on industry and regulatory developments, service and product enhancements and vendor changes; communicate regulatory or industry developments to advisor and education specialist as needed.
• Use COMMunity Link and Commonwealth back office to access resources as appropriate.

Requirements

• 3 to 5 years of direct experience with 401(k)s, 403(b)s and SIMPLE IRAs required.
• Retirement plan design experience.
• FINRA Series 6 or 7 and 66 registrations.
• Strong understanding of financial products and 401(k) plans.
• Strong understanding of compliance and regulatory issues.
• Familiarity with TPAs and recordkeepers preferred.
• Proficiency with Microsoft products.
• Ability to thrive in a fast-paced and changing environment.