Sr. Retirement Consultant | Full Time | Detroit, MI (Hybrid)

GENERAL SUMMARY:

The Senior Retirement Consultant (SRC) is a key strategic resource for financial analysis, data integrity, budgeting and accounting information for the Retirement Department. Working with the Director of Retirement, the SRC is responsible for ensuring the accuracy and completeness of demographic, actuarial and financial information regarding the various HFHS defined contribution and defined benefit plans. These responsibilities include the review of, and on occasion, the preparation of defined benefit plan calculations. Since the SRC is called upon to prepare detailed calculations, he/she must be very proficient at spreadsheet preparation and advanced accounting and math skills. The SRC often acts as a project manager; he/she aggressively completes projects in a timely manner with little or no supervision. A SRC will have several years of financial, and benefit related experience.

PRINCIPLE DUTIES AND RESPONSIBILITIES:

• Responsible for the preparation of defined benefit calculations and often the review of these calculations if they are performed by other personnel.
• In coordination with the plan actuary and plan record keeper, analyze and update actuarial information for each of the defined benefit plans.
• Performs detailed research of payroll records on retirement related questions and data issues.
• Provides extensive consulting to HFHS human resource personnel on the more difficult/complex questions related to the Retirement Plan provisions and technical issues.
• Works directly with outside actuaries on data gathering for vesting and credited service for new affiliations and joint ventures. Prepares specifications regarding how and what data should be collected.
• Assists HFHS Finance Group toward the completion of benefit information on Form 990 and Medicare cost reporting.
• Provides responses to IRS, PBGC and other governmental inquiries on retirement and benefit related issues with minimal assistance from the Director of Retirement.
• Meets independently with outside “vendors,” such as plan actuaries, record keepers, attorneys and consultants and directs them toward the completion of project goals and objectives.
• Works closely with HFHS Treasury Department, Audit & Compliance and HFHS Accounting on retirement related distributions and account reconciliation’s. Often is called upon to participate as a team member in meetings and projects with these personnel.
• Responsible for working independently on special projects that require extensive problem-solving skills and commitment for their completion.
• Counsels HFHS Retirement Plan participants on general questions and assists them in the resolution of data errors. This role often includes phone calls and personal meetings.
• Is the key Retirement Department contact with HRIS for data administration and the ongoing data reporting used by outside actuaries.
• Is the key contact person for outside yearly CPA audits. This role includes developing a planning schedule and preparing reports for outside auditors. It also includes the review of audited financial statements and preparing responses to audit management letter recommendations.
• On occasion, performs review of pension files and approves pension files for distribution.