Oversee the successful termination of standard plans, crossing all segments
Discuss and educate on service agreements, contracts, and product features for liquidation restrictions, options, and comprehension of administrative duties
Review participant conversion data and activity to prevent risk of loss due to errors
Maintain established internal deadlines and timelines associated with terminations and shutdown of plan activity
Produce quality work on assigned terminations through various quality assurance measures
Follow established procedures designed to minimize market risks and gain/loss situations
Terminate plans timely from notification to plan shut down
Oversee the successful deconversion or termination of standard plans, crossing all segments
Discuss service agreements, contracts and product features with plan sponsors, financial advisors, third party administrators and successor recordkeepers for liquidation restrictions and options and comprehension of administrative duties
Perform review of participant conversion data and activity to prevent risk of loss due to errors
Facilitate the transfer of plan assets and records though written and verbal communication with successor recordkeepers, client contacts and various internal departments
Maintain established internal deadlines and timelines associated with deconversions /terminations and shutdown of plan activity
Produce quality work on assigned de-conversions or terminations through various quality assurance measures
Follow established procedures designed to minimize market risks and gain/loss situations
Deconvert plans timely from notification to plan shut down, including blackout process, liquidation and final file submission
Requirements
Associate degree in Business or equivalent related experience
1-2 years deconversion/termination or related work experience
Proficient knowledge of various IRS codes; 457, 401(k), 403(b), 401(a), etc.
Proficient knowledge of IRS/DOL reporting knowledge
Proficient regulatory compliance and plan document knowledge
Excellent written and verbal communication skills
Strong attention to detail required
Excellent time management
Ability to work with clients and handle highly sensitive conversations
Ability to work extended hours and overtime during peak seasons or high volume
Ability to work extended hours and overtime
Benefits
Vision insurance401(k)Flexible schedule
Additional Information
Our vision for the future is based on the idea that transforming financial lives starts by giving our people the freedom to transform their own. We have a flexible work environment, and fluid career paths. We not only encourage but celebrate internal mobility. We also recognize the importance of purpose, well-being, and work-life balance. Within Empower and our communities, we work hard to create a welcoming and inclusive environment, and our associates dedicate thousands of hours to volunteering for causes that matter most to them.
Chart your own path and grow your career while helping more customers achieve financial freedom. Empower Yourself.
The Deconversion Consultant - Plan Terminations is responsible for the successful termination of standard plans within all segments, acting project manager and consultant for termination activities for assigned plans. The Consultant will also act as the point of contact with Plan Sponsors, Financial Advisors, and Third-Party Administrators.
Empower · Manila, Philippines