Purpose: The Retirement Services Specialist will be responsible for providing comprehensive retirement plan services to participants. This role includes supporting the educating plan participants in both group and one-on-one settings. This role will also act as a liaison to the plan recordkeeper, assisting plan participants with enrollment, rollovers, and any other service needs.
Essential Functions:
Participant Education:
- Develop and deliver educational sessions for plan participants on retirement planning, investment options, and financial wellness.
- Provide one-on-one consultations with participants to help them understand their retirement plan benefits and make informed investment decisions.
- Create educational materials, newsletters, and webinars to keep participants informed about plan features and changes.
- Maintain an understanding of each plan’s features, annual retirement plan contribution limits, and any other regulatory changes.
Client Relationship Management:
- Serve as the primary point of contact for participants, providing exceptional service and support.
- Coordinate with internal teams, such as compliance, legal, and investment management, to deliver a seamless service experience.
Plan Sponsor Support:
- Proactively engage with plan sponsors to schedule educational seminars and individual participant meetings.
- Provide reporting to plan sponsors regarding participant engagement
- Support the lead advisor on the plan in creating quarterly meeting reports.
- Support the lead advisor with any RFPs and reporting on proposal reviews.
- Plan Sponsor Support:
Lead generation:
- Work with the director of retirement services to identify 401(k) opportunities
- Leverage various lead generation techniques, including digital marketing, networking, and direct outreach, to build a robust pipeline of potential clients.
- Maintain accurate records of lead generation activities and results
- Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.
Job Related Qualifications:
Required:
- Education: Bachelor’s Degree in Finance, Business or a related field
- Prior Experience: 3+ years of experience in retirement plan services, with a focus on participant education and investment reporting.
- Licenses or Accreditation: CFP, CRPS, QKA preferred
Competencies:
- In-depth knowledge of ERISA, DOL regulations, and other laws governing defined contribution plans.
- Strong understanding of retirement plans, including 401(k), 403(b), pension plans and IRAs.
- Excellent customer services skills with the ability to explain complex information in a clear, concise manner.
- Strong analytical skills with the ability to interpret and communicate complex investment data.
- Strong organizational and time management skills.
- Attention to detail and ability to manage multiple clients accounts simultaneously.
- Proficiency in Microsoft Office and experience with retirement plan management software
Benefits:
- Medical, Dental, and Vision Insurance
- Health Savings Account
- Flexible Spending Account(s)
- Company Paid Life Insurance, Long Term Disability, and Short Term Disability
- Voluntary Offerings: Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity & Personal Accident
- Tuition Reimbursement
- Employee Referral Program
- Wellness Reimbursement Program
- Star Volunteer Program
- Employee Banking and Financial Perks
- Paid Time Off (PTO)
- Company Paid Holidays
This job description is not exhaustive. The Retirement Services Specialist may be required to perform other duties as assigned.
The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance.
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