The DC Compliance Analyst will be responsible for working in a team environment, completing assigned tasks, retaining information and building knowledge in the field. As knowledge about the field increases, responsibilities and tasks will grow, up to and including responsibility of providing all aspects of plan administration to assigned clients.
RESPONSIBILITIES OF THE POSITION
- Have an understanding of applicable IRS regulations as they apply to qualified retirement plans, including 401(k) plans.
- Maintain current knowledge of applicable IRS code sections.
- Interpret the plan document and regulations applicable to administering qualified retirement plans.
- Gain and develop proficiency in industry software applications (FIS/Relias, Webclient, Omni)
- Excel spreadsheets proficiency with vlookups, basic formulas, and data analysis.
- Gain and develop full understanding of clients and their plans. Develop in-depth understanding of each client's sensitivities, plan design and needs and objectives with respect to their benefit plans.
- Proactively manage accounts by setting appropriate expectations.
- Address all issues brought to Milliman by plan sponsors and external partners in a timely and professional manner.
- Respond to client and participant inquiries and demonstrate a proactive solution-based approach to enhance client relations.
- Review plan parameters to ensure compliance with plan document provisions, as well as applicable governmental rules and regulations.
- Review all participant and plan-specific contribution limits and plan-level deductibility limits. Prepare required compliance and nondiscrimination testing; including executing necessary corrective measures.
- Prepares annual plan audit package, as well as annual government filings. Acts as primary contact with plan auditors during audits.
- Calculate and/or allocate employer contributions, profit sharing, match, match true ups, etc.
- Track minimum required distributions for the plan. Calculate distributions and communicate with plan participants as needed.
- Deliver the highest quality of service to clients, associates and management.
- Demonstrate professional conduct within the team and with the internal and external partners.
- Respond to internal and external partners in a timely and professional manner.
- Proactively communicate with all key stakeholders.
- Demonstrate commitment to teamwork and a positive attitude.
REQUIRED EXPERIENCE AND SKILLS
- Bachelor's degree in Accounting, Finance, Math or Business Administration preferred.
- Professional designation in area of expertise - ASPPA credentials highly preferred
- Experience in the retirement plans or complementary business between 2-5 years
- Works well within a team environment and takes ownership of personal work product.
- Proficiency in the use of computers and other general office equipment.
- Proficiency in Microsoft Office Suite with a focus on Excel (vlookups, basic formulas, and data analysis) preferred.
- Attention to detail.
- Excellent Problem solving skills.
- Strong communication skills (both written and verbal).
- Able to productively respond to change.
- Excellent organization and time management skills.
Must demonstrate Milliman's core values which include:
- Integrity - Must be honest, fair, active listener, open communicator and accountable.
- Teamwork - Work cooperatively and treat clients and coworkers with respect and dignity while valuing individual differences, encouraging new ideas and sharing information.
- Commitment to excellence - Demonstrate commitment to being creative, innovative, flexible and adaptable, focusing on quality solutions, continually improving and being a winner.
Milliman offers a competitive base salary and an outstanding and comprehensive benefits package:
- Medical, dental and vision coverage for employees and their families, including eligible domestic partners.
- A 401(k) plan with matching program
- Paid Parental Leave up to 12 weeks
- Profit sharing as a discretionary contribution to employees' retirement accounts
- Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason.
- Adoption assistance
- Milliman covers 100% of the premiums for life insurance, AD&D, and both short term and long term disability coverage
- Flexible spending accounts allow employees to set aside pre-tax dollars to pay for dependent care, transportation and applicable medical needs
Milliman employs more than 3,500 people working in employee benefits, healthcare, life insurance/financial services, and property and casualty insurance. For more than 70 years, the firm has quietly earned a reputation for exceptional services, innovation and quality. Today Milliman is one of the nation's most highly regarded providers of retirement plan services to the full spectrum of business, financial, government and union organizations.
Our company, with the full support of our Chief Executive Officer, is fully committed to the maximum utilization of all human resources and the goals of Equal Employment Opportunity and Affirmative Action. We recruit, hire, train, and promote, and consider qualified applicants for employment, in all job titles without regard to age, ancestry, citizenship status, color, creed, familial status, genetic information, marital status, national origin, political ideology, race, religion, sex, sexual orientation, gender identity, status as an individual with a disability, or veteran status, including qualified disabled veterans, Armed Forces service medal veterans, recently separated veterans, and active duty wartime or campaign badge veterans; and shall not discriminate against any individual, or any other characteristic protected by law. Should you have a disability that requires assistance and/or reasonable accommodation with the job application process, please contact the HR department.