Qualified Retirement Plans Consultant/Relationship Manager
Job Description:
First American Bank was founded in Chicago, and over the years has expanded throughout Wisconsin and Florida. As the largest privately held bank in Illinois, we now have over 60 locations and assets of $5+ billion. We are a community bank at heart with international expertise, traditional values, and a forward-looking philosophy.Our employees have the experience and vision to meet the needs of savers, borrowers, and businesses in the 21st century. First American Bank can offer employees a level of visibility, career growth, and stability that is difficult to find in many larger corporations.
Responsible for management of all aspects of client relationship for assigned book of business.Primary point-person for contact/coordination of client-related activity, including plan design & administration,legal & regulatory compliance, participant education.Work with other plan professionals (CPA, attorney, investment advisor) to ensure client satisfactionand retention of business.
DUTIES & RESPONSIBILITIES:
Consulting: Consult with client to assure that plan design is appropriate.
Recommend and implement appropriate design changes to client
Advise client on all technical, regulatory & administration issues.
Consult with external auditors regarding plan audits.
Consult with plan professionals including accountants, attorneys and other FAB officers.
Oversee annual administrative review.
Solicit new business referrals from clients and independently-generated sources including
personal and professional network.
Compliance: Review periodic plan valuation for completion and accuracy.
Monitor and analyze all compliance test results.
Review annual form 5500 and attachments.
Prepare any required IRS filing.
Prepare for and support IRS/DOL client audits.
Communication: Arrange and conduct periodic employee education/enrollment meetings.
Conduct annual investment update meetings with Investment Officer.
Coordinate and ensure timely meeting of all plan deadlines.
QUALIFICATIONS:
- yr college degree minimum.
Advanced degree or industry-specific designation preferred.
Securities license not supported (we are a bank trust department and are exempt from licensing requirements under Gramm Leach Bliley).
Minimum 6 years in retirement plan industry with strong defined contribution focus, minimum 3 years relationship management/consulting experience.
High degree of familiarity with and understanding of ERISA and the IRC as it applies to qualified retirement plans.
Experience with Relius Administration preferred.
Superior command of the English language, both written & spoken; superior presentation skills.
Standard business computer skills, Microsoft office suite, advanced Excel.
Day travel to clients within FAB marketing area.
Occasional out-of-state travel to accommodate client locations.
Full-time, M-F, 8-5. After-hours time as needed.