What are the responsibilities and job description for the Specialist - Defined Contribution Plans Compliance & Documentation position at Charles Schwab?
Your opportunity
At Schwab, you’re empowered to make an impact on your career. Here, innovative thought meets creative problem solving, helping us “challenge the status quo” and transform the finance industry together.
Schwab Retirement Plan Services provides third party recordkeeping and retirement plan administration to small, mid and large size employers nationwide. Schwab believes the provider matters, and we are committed to the financial fitness of all participants and clients. We assist plan sponsors to ensure the plans are operated in accordance with the Internal Revenue Code and ERISA, following IRS and DOL regulations and plan provisions.
Our group is responsible for preparing ADP/ACP testing, Top Heavy testing, Coverage testing, 401(a)(4) Nondiscrimination testing, and Form 5500s within the statutory timelines established by the code. We also assist clients with preparation of allocations of employer contributions and specialized testing. Our department partners closely with the Client Services department to assist with higher level client issues and to assist with external auditor requests.
As a Specialist on the ERISA Compliance team. your responsibilities will include but not be limited too:
To ensure that we fulfill our promise of “challenging the status quo,” this role has specific qualifications that successful candidates should have.
Required Qualifications
At Schwab, we’re committed to empowering our employees’ personal and professional success. Our purpose-driven, supportive culture, and focus on your development means you’ll get the tools you need to make a positive difference in the finance industry. Our Hybrid Work and Flexibility approach balances our ongoing commitment to workplace flexibility, serving our clients, and our strong belief in the value of being together in person on a regular basis.
We offer a competitive benefits package that takes care of the whole you – both today and in the future:
At Schwab, you’re empowered to make an impact on your career. Here, innovative thought meets creative problem solving, helping us “challenge the status quo” and transform the finance industry together.
Schwab Retirement Plan Services provides third party recordkeeping and retirement plan administration to small, mid and large size employers nationwide. Schwab believes the provider matters, and we are committed to the financial fitness of all participants and clients. We assist plan sponsors to ensure the plans are operated in accordance with the Internal Revenue Code and ERISA, following IRS and DOL regulations and plan provisions.
Our group is responsible for preparing ADP/ACP testing, Top Heavy testing, Coverage testing, 401(a)(4) Nondiscrimination testing, and Form 5500s within the statutory timelines established by the code. We also assist clients with preparation of allocations of employer contributions and specialized testing. Our department partners closely with the Client Services department to assist with higher level client issues and to assist with external auditor requests.
As a Specialist on the ERISA Compliance team. your responsibilities will include but not be limited too:
- Complete ADP/ACP and other required annual plan testing and preparation of contribution allocations for medium complexity plans.
- Preparation of the Form 5500 and support external auditor requests.
- Direct contact with plan sponsors and their external auditors.
- Additional departmental project responsibilities as needed.
To ensure that we fulfill our promise of “challenging the status quo,” this role has specific qualifications that successful candidates should have.
Required Qualifications
- A strong commitment to the highest level of client service
- Strong problem solving skills
- Ability to meet stringent deadlines
- Excellent verbal and written communication skills.
- Knowledge and experience with Microsoft Excel.
- Accounting, Finance or Math background
- Direct experience in the qualified retirement plan industry
- 2 years preferred, with experience in providing ERISA Compliance testing and reporting services.
- Knowledge of the IRS & DOL Code and Regulations for 401(k) plans.
- Experience with the ASC testing system.
- ASPPA QKA designation.
At Schwab, we’re committed to empowering our employees’ personal and professional success. Our purpose-driven, supportive culture, and focus on your development means you’ll get the tools you need to make a positive difference in the finance industry. Our Hybrid Work and Flexibility approach balances our ongoing commitment to workplace flexibility, serving our clients, and our strong belief in the value of being together in person on a regular basis.
We offer a competitive benefits package that takes care of the whole you – both today and in the future:
- 401(k) with company match and Employee stock purchase plan
- Paid time for vacation, volunteering, and 28-day sabbatical after every 5 years of service for eligible positions
- Paid parental leave and family building benefits
- Tuition reimbursement
- Health, dental, and vision insurance
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