ESOP Senior Administrator

SENIOR ESOP ADMINISTRATOR

JOB TITLE:               Senior ESOP Administrator

DEPARTMENT:         ESOP Services

SUPERVISOR:          Director of ESOP Services

ESOP Partners, Inc. is a third party administration and consulting firm with the mission to provide a liquid business transition solution for owners of closely-held businesses to establish,  maintain and sustain an employee stock ownership plan (ESOP) while maximizing the financial and many other benefits of being an ESOP company through the establishment of a strong employee ownership culture.

GENERAL JOB DESCRIPTON

The Senior ESOP Administrator is responsible for the oversight of ESOP recordkeeping compliance and testing per the ESOP Plan Document of each ESOP Partners client. The position will require a person dedicated to coaching and mentoring the administration team as necessary to increase the knowledge base and effectiveness to deliver on client expectations. This will include training of junior administrators and Core Team members.

This position works out of our home office in Appleton, Wisconsin and requires 7-10 years of recent hands-on ESOP administration and record-keeping experience.

ESOP Partners is a firm experiencing exponential growth and therefore, the Sr. ESOP Administrator position will continue to evolve and include other duties and responsibilities in addition to those listed here, and as assigned by management.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Responsible for contributing to overall ESOP Administration team production results. Completes the following tasks and ensures junior staff is completing these tasks effectively using quality control procedures as outlined by management:

• Monitors the completion of critical reports and filings with ESOP timeline tools to ensure client expectations are being met.
• Determines which of the client’s 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.
• Attends ESOP industry conferences, events, seminars, etc. to increase ESOP knowledge and skills.

Provides ESOP Administration and Consulting Services to New and Existing ESOP Clients up to and including:

• ESOP Repurchase Liability Studies
• ESOP Distribution Policy
• ESOP Plan Design
• ESOP Accounting
• ESOP Corporate Governance
• ESOP Culture and Communication
• ESOP Education
  
  

Expectations for performance:

• Team Player: Agrees to abide by all requirements of the position as directed by management, up to and including Busy Season Expectations. 
• Adherence to Quality Control Standards: It is expected that this role will consistently deliver on quality control standards, up to and including the use of the ESOP Administration Master Checklist for any and all administration work being performed.
• Time and Task Management: Receive direction from Client Services Manager on daily project assignments and completing projects as assigned in a timely manner, and directly communicating to the Client Services Manager if timing standards are not met.    

CORE VALUES

• Put the Customer First, Period: We define a customer as an internal employee-owner and/or the client we are servicing through consulting or administration. Set and manage the expectations upfront and respond to these needs efficiently and effectively.
• Demonstrate Professional Skepticism: Have a questioning mind that listens to the solution and looks for opportunities to improve and advance the outcome.
• Have Fun: Be comfortable enough to be yourself and respect those you work with through collaboration and comradery. Create a culture of enjoyment and excitement with your fellow employee-owners. Celebrate our differences.
  
• Communicate Responsibly and Confidently: Present a response that properly manages an identified issue and respects the perspective of all stakeholders. Use finesse in messaging to create a win / win situation for all parties.
• Exhibit Mental Strength: Exhibit the fortitude and resilience to get through the challenges and changes we all face. Know your limits and respect boundaries. Be able to give and accept feedback and grow from that feedback. Remain in control under pressure. Do not let emotion dominate your logic.
• Get Things Done: Keep our promise to our customers by capturing, clarifying, organizing, reflecting, and just simply doing what needs to be done.

QUALIFICATIONS

Knowledge and Skills:

• Leadership
• Coaching
• 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, up to and including Microsoft Excel, Microsoft Word, Microsoft PowerPoint. Employees will be expected to learn ESOP Partners’ proprietary software: ESOP Revolution.

Education/Experience:

• Associate degree in business administration or another related field. Bachelor’s degree preferred.
• 7-10 years of recent hands-on ESOP administration experience.
• Supervisory experience preferred.

Certifications/Licenses:

• QPA or QKA certification or equivalent
• Valid Driver’s License