Compliance Specialist I

17 hours ago

🗽 New York – Remote

Although this job is listed in New York, this company may be open to hiring remote in other states.

💵 $23 - $33 / hour

⏰ Full Time

🟢 Junior

🟡 Mid-level

🚔 Compliance

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NBT Bank

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Banking • Finance • Fintech

NBT Bank is a financial institution offering a wide range of banking services for personal, business, and wealth management needs. They provide products such as checking and savings accounts, home loans, personal loans, and credit cards. The bank also offers digital banking solutions, fraud prevention resources, and investment and insurance services. NBT Bank is FDIC-insured, ensuring customer deposits are backed by the U. S. government. It has a robust presence with multiple office locations, and it is involved in community activities and diverse initiatives. Additionally, NBT Bank offers specialized services like NBT Wealth Connection, NBT Retirement Plan Services, and government banking.

1001 - 5000 employees

Founded 1856

🏦 Banking

💸 Finance

💳 Fintech

📋 Description

• Coordination of data input and validation for annual compliance needs, including but not limited to generating and importing employee census, downloading platform asset files, and importing and confirming participant and plan level asset information. • Develop a basic knowledge of compliance tests and year end packages including: review of plan eligibility requirements and determination of eligible participants; review of plan allocation conditions and calculation of requested contributions and forfeiture allocations; ADP/ACP nondiscrimination, 415 annual additions, 416 Top Heavy, and 410(b) coverage tests. • Prepare asset reconciliation and research differences as needed for plan valuation, testing and reporting requirements. • Prepare, review, and publish Form 5500, Form 5330, Form 8955-SSA and other regulatory forms required. • Prepare Plan Documents as needed, including but not limited to Restatements, Amendments, SPDs, SMMs and Notices. • Perform other duties as assigned.

🎯 Requirements

• Associates degree and 2+ years related experience or an equivalent combination of education and experience. • ASPPA Qualified 401(k) Administrator (QKA) designation preferred. • Ability to read and interpret documents such as retirement adoption agreements, program manuals, and government instructions and guidance. • Ability to write reports and emails/correspondence, and work effectively with employees across the company. • Advanced math skills including the ability to apply concepts such as fractions, percentages, and ratios. • Experience with Microsoft programs including Excel and Word. • Ability to work independently and balance multiple tasks.

🏖️ Benefits

• Generous Paid Time Off : At least 22 days annually, prorated in the year of hire. • Parental Leave : Six weeks of paid leave at 100% of your salary. • Comprehensive Medical Coverage : Includes employer contributions to HSA for High Deductible Health Plan participants. • Dental and Vision Coverage : Ensuring your overall health and well-being. • Flexible Spending Accounts : For healthcare and dependent care expenses. • Employer-Paid Disability Coverage : Both short-term and long-term, with an option to purchase additional long-term coverage. • Life Insurance : Employer-paid basic life insurance, with an option to purchase supplemental coverage. • Voluntary Benefits : Including hospital, accident, and critical illness coverage. • Retirement Plans: Benefit from a 401(k) plan with employer matching, an optional Roth 401(k), and a pension plan to help secure your future. • Adoption Assistance : Supporting your growing family. • Tuition Reimbursement : Invest in your education and career growth. • Employee Assistance Program (EAP) : Access to support and resources. • Financial and Banking Services : Various benefits and financial planning assistance .