Retirement Plan Operations Manager

Job Description

Job Description

SmartHR has partnered with a company in a confidential search for a Retirement Plan Operations Manager.

The Retirement Plan Operations Manager is responsible for overseeing the day-to-day operations and management of the 401(k) Recordkeeping team.

This role involves ensuring the accuracy and efficiency of all 401(k) account transactions, maintaining compliance with regulatory requirements, and providing exceptional service to plan participants and sponsors.

The manager will lead a team of recordkeeping specialists and collaborate with other departments to ensure seamless plan administration.

Key Responsibilities

Leadership and Team Management

• Supervise, mentor, and develop a team of 401(k) recordkeeping specialists.
• Conduct regular team meetings and one-on-one sessions to monitor performance and provide feedback.
• Set performance goals and objectives for the team, ensuring alignment with company standards and client expectations.

Daily Operations

• Oversee daily processing of contributions, distributions, loans, rollovers, and other plan transactions.
• Ensure all transactions are processed accurately and timely.
• Monitor daily workflow and manage resources to meet service level agreements (SLAs).

Compliance and Quality Assurance

• Ensure all recordkeeping activities comply with ERISA, DOL, IRS, and other applicable regulations.
• Conduct regular audits and reviews of transaction processing to maintain high accuracy levels.
• Implement and update policies and procedures to enhance compliance and operational efficiency.

Client and Participant Services

• Serve as a point of escalation for complex or high-priority client and participant inquiries.
• Collaborate with the client services team to resolve issues and improve client satisfaction.
• Provide training and support to plan sponsors on recordkeeping processes and systems.

System and Process Improvement

• Identify opportunities for process improvements and system enhancements.
• Lead or participate in projects aimed at improving the efficiency and accuracy of recordkeeping operations.
• Stay informed about industry trends and best practices to drive continuous improvement.

Reporting and Analytics

• Prepare and analyze reports on recordkeeping activities, performance metrics, and compliance status.
• Provide regular updates to senior management on operational performance and key issues.
• Utilize data analytics to identify trends and make data-driven decisions.

Qualifications

Education

Bachelor's degree in finance, business administration, or a related field. Advanced degree or relevant certifications (e.

g., QKA, QPA, CPC) preferred.

Experience

At least 5-7 years of experience in 401(k) recordkeeping, or a combination of recordkeeping and trustee directed plan servicing or plan administration, with a minimum of 3 years in a supervisory or managerial role.

Skills :

• Strong understanding of 401(k) plan rules, regulations, and industry standards.
• Excellent leadership and team management skills.
• Proficiency in recordkeeping systems and software.
• Exceptional analytical and problem-solving abilities.
• Strong communication and interpersonal skills.
• Detail-oriented with a commitment to accuracy and compliance.
13 days ago