Specialist, RPS Defined Benefits

  • Job Reference: 269659474-2
  • Date Posted: 24 April 2021
  • Recruiter: Charles Schwab Inc.
  • Location: Richfield, Ohio
  • Salary: On Application
  • Sector: Banking & Financial Services
  • Job Type: Permanent

Job Description

Your Opportunity:
Schwab Retirement Plan Services, an affiliate of Charles Schwab & Co., Inc. is one of the top tier providers of bundled retirement plan services. For mid-to large sized companies, Schwab offers full-service retirement plans featuring complete retirement services from a single source. Schwabs combined expertise in recordkeeping and related services, investment choice and award-winning participant experience and education (including retirement plan advice) and high-end technology helps employers offer competitive employee benefits. The Defined Benefit Administration team is responsible for providing plan administration service and technical compliance support within standards and service objectives. This includes the understanding of complexities of all facets of administering qualified defined benefit retirement plans. Remote work is an option for this role and candidates in additional markets may be considered based on skills and experience.

What you are good at:
Provide plan administration service and technical compliance support within standards and service objectives, including understanding of the complexities of all facets of administering qualified defined benefit retirement plans.Responsible for protecting, securing, and handing of all confidential data held by Schwab to ensure against unauthorized access, improper transition and/or unapproved disclosure of information that could result in harm to clients and participants.Efficiently deliver quality services to clients, participants and business partners by:Preparing necessary benefit calculations for plans including retirements, disabilities, deaths and lump sum payments.Performing a variety of administrative analytical or recordkeeping functions for moderate to complex defined benefit plans. Preparing associated forms and correspondence for distribution to participants.Accurately processing distribution of benefits to eligible participants and beneficiaries. Meeting all deadlines regarding internal and external due dates.Support ad-hoc requests, reporting and analysis for business partners by performing special projects and other related duties as assigned.Prepare annual plan valuations by auditing current years census and comparing it with prior years data to verify accuracy; resolve any apparent discrepancies, update and ensure the accuracy in the record keeping systems. This includes calculating eligibility, plan entry and vesting.Effectively communicate client data/information to business partners courteously, timely and with a thorough response.Develop and maintain knowledge of defined benefit retirement plans and the Schwab record keeping systems.Prepare Plan Provision Summaries for new and existing clients.Create or revise departmental procedures.

What you have:
Bachelors degree in finance or business-related field.Minimum three (3) yearsrelevant defined benefit plan experience. Actuarial knowledge is preferred. Proficiency in Microsoft Office software applications, specifically Excel and Word required.Ability to work quickly and accurately within deadlines.Excellent math and organizational skills.Excellent written and verbal communication skills.Able to manage several tasks with different priorities and work as a team player as well as independently.#LI-MG3