ESOP Administrator

ESOP Administrator

DEPARTMENT:         ESOP Services

SUPERVISOR:          Director of ESOP Services

ESOP Partners Inc. is a full-service ESOP Advisory Firm and third-party administrator. Employee ownership is our future, make it yours, too!

We have a vision to become nationally recognized as the best ESOP in the country. Here’s how we plan to achieve that goal (our Core Values):

• We put the customer first
• We keep our promises
• We ask questions and listen closely to identify opportunities for improvement
• We’re resilient in the face of challenges and use feedback to grow professionally and personally
• We make room for collaboration and comradery, we celebrate our differences, we love what we do
• We communicate in ways that build trust and respect

This is an in-office position in Appleton, Wisconsin, requires 1-3 years of ESOP administration experience, and has a seasonal schedule that requires the ability to work more than 40 hours per week during peak times.

GENERAL JOB DESCRIPTION                                         

The ESOP Administrator is responsible for recordkeeping compliance, testing, and analyzing ESOP plan provisions according to specific terms of individual plan documents, compliance, and service standards. This role is also responsible for delivering to the Quality Reviewer data reports that are complete and within the established quality standards. The position will require a person dedicated to professional development and ESOP education to increase their ESOP knowledge base and effectiveness to deliver on client expectations.  

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Responsible for individual production results as well as contribution to busy season goals for the ESOP administration team.
• Monitors the completion of critical reports and filings with ESOP timeline tools to ensure client expectations are being met.
• Determines which employees have met plan provisions allowing them eligibility to contribution allocations.
• Maintains historical data for an accurate report of timing forfeitures, vesting, diversification eligibility, and other quantitative opportunities.
• Reports trust activities occurring within ESOP or accrued for the reporting period.
• Tracks stock transactions using share accounts to properly identify dividends and costs attributing to individual share accounts.
• Provides required updates to participants with individual statements and disclosures.
• Allows participants to take distributions from the plan, when appropriate, by completing customized diversification and/or request for benefit election forms.
• Tests plans to confirm compliance with ESOP specific, standard Internal Revenue Service, and Department of Labor rules and regulations.
• Assists with testing ESOP Partners’ proprietary software (ESOP Revolution) to decrease workarounds and increase efficiency for users.
• Ensures ERISA regulatory reporting is completed in a timely manner.
• Is the assigned technical person for a small caseload of plans.
• Attends ESOP industry conferences, events, seminars, etc. to increase ESOP knowledge and skills.

As part of professional development, the position can offer ESOP Administrators involvement in ESOP consulting opportunities and hands-on administration for a caseload of complex plans, up to and including ESOP repurchase liability studies, new ESOP plan design, ESOP distribution policies and ESOP education and communication.

QUALIFICATIONS

Knowledge and Skills:

• Eagerness to Learn
• Oral Communication Skills
• Teamwork
• Written Communication Skills
• Professionalism
• Presentation
• ESOP Technical Knowledge
• Time Management
• Microsoft Suite (emphasis on Excel)
• Organization

This position also requires a good working knowledge of computer software applications including Microsoft Excel and Word. Employees will be expected to learn ESOP Partners’ proprietary administration software: ESOP Revolution.

Education/Experience:

• Associate degree in business administration or another related field. Bachelor’s degree preferred.
• 1-3 years of ESOP administration experience. 

Certifications/Licenses:

• Valid Driver’s License
• QPA or QKA certification or equivalent (this can be done later as part of continuing education)