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Idealist.org
Retirement Business Analyst
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What they do
A Business Analyst provides strategic management consulting to companies and businesses. Advises on ways to improve operations, increase efficiency, reduce costs and increase revenues; may recommend systems or organizational change. May specialize in an area of business practice or a specific industry; may also specialize in consulting with government agencies.
$100,282 / year median in Maryland
-7% projected decline
Job Description
Retirement Business Analyst
DescriptionThe Retirement Business Analyst position is responsible for day-to-day administration of the Association's defined benefit (DB) (cash balance plan), 457 plan and defined contribution (DC) (401(k)) retirement plans.
Responsibilities1. Responsible for the day-to-day administration of the retirement plans, including contribution/funding and distribution reconciliations, analyzing and ensuring plan design according to the Plan document2. Monitor, document, communicate and ensure the legal and regulatory compliance and requirements of the defined benefit plan (including cash balance feature), defined contribution plans, and 457b plan.3. Design and execute retirement planning education curriculum for retirement benefit orientation meetings and retirement education sessions for staff4. Maintain internal accounting and pension control schedules5. Participate in annual pension and financial audits6. Serve as a primary resource to design, prepare, and deliver key management reports7. Assist in the development and communication of guidelines, timelines and resources to support the association's budget processes8. Perform and complete other projects assigned to meet business needs including ad hoc and routine reports and analysis to internal and external stakeholders Qualifications Knowledge and skills typically acquired through:
Responsibilities1. Responsible for the day-to-day administration of the retirement plans, including contribution/funding and distribution reconciliations, analyzing and ensuring plan design according to the Plan document2. Monitor, document, communicate and ensure the legal and regulatory compliance and requirements of the defined benefit plan (including cash balance feature), defined contribution plans, and 457b plan.3. Design and execute retirement planning education curriculum for retirement benefit orientation meetings and retirement education sessions for staff4. Maintain internal accounting and pension control schedules5. Participate in annual pension and financial audits6. Serve as a primary resource to design, prepare, and deliver key management reports7. Assist in the development and communication of guidelines, timelines and resources to support the association's budget processes8. Perform and complete other projects assigned to meet business needs including ad hoc and routine reports and analysis to internal and external stakeholders Qualifications Knowledge and skills typically acquired through:
- Bachelor's degree in Accounting, Finance, or related business degree required
- 5-8 years of relevant business experience
- At least 2
- 5 years of experience with defined benefit (cash balance plan experience preferred) and defined contribution pension administration, and 457b plan
- Certified Employee Benefit Specialist (CEBS
- Retirement Plans Associate (RPA) a plus Skills
- Familiarity with
ERISA, DOL
regulations and GAAP guidelines- Comprehensive knowledge of the principles of accounting and budgeting
- Demonstrated ability to understand the Internal Revenue Code (IRC) and how it applies to pension plans
- Demonstrated ability to collect and analyze data from a variety of sources to inform decision-making
- Demonstrated knowledge and experience with automated financial accounting systems
- Excellent oral and written communication skills, and strong customer service skills
- Exceptional organizational skills; effective in prioritizing work and following through on commitments, including effective project management skills
- Strong mathematical, problem-solving, and analytical skills
- MS Office skills
- Outlook, Word, Excel and PowerPoint at an advanced level