Retirement Plan Specialist - Adjustments & Audits

Job Description:Primary Purpose of this Position: The Retirement Plan Specialist uses extensive system knowledge for adjustment, plan audit, and plan accounting report purposes. The position is responsible for the reconciliation and problem resolution of all Retirement Plan Services plan level Cash Accounts (Agency, Distribution and Settlement Accounts) and security holdings. This position also acts as a subject matter expert, serves as office back up in manager’s absence, leads team projects as assigned, and coaches new associates. This role acts in a lead capacity within the team to review and sign-off on the work of others, which include adjustments, trades, Plan Accounting Reports (PAR’s) and Form 5500 Schedules. Principal Responsibilities: * Processes retirement plan adjustments that are highly complex in nature on the OmniPlan/OmniPlus system to correct erroneous transactions. Transaction types include current day adjustments, loan repayments, withdrawals and terminations. These adjustments can involve complicated calculator texts and NEXTI logical data processing functions. Having general understanding of other roles within RPS Operations (including but not limited to PSTs, PCTs, Cash Group, Tax Group, Asset Reconciliation, Dividend and Pricing Team and Trading) contributes to the development of problem resolution. * Prepares Retirement Plan Accounting Reports, census data and government Form 5500 for assigned clients. Reviews and clears the plan validator of items on an ad hoc basis. Corresponds with and provides plan auditors with detailed reporting. Prepares custom T933 and T966 reporting (customer report generators using system application language) on an as needed basis. Ensures annual government reporting requirements are met according to IRS compliance. * Reconciles Cash Accounts and Asset Accounts (Agency, Settlement and Distribution) on a daily basis. Determines appropriate action and provides instructions to internal departments for purchase, sale, and cash movement to balance accounts. * Reconciles quarterly plan level tax reporting utilizing OmniPlan/OmniPlus and OmniPay to ensure accuracy of Form 1099-R reporting. Reviews 1099-R forms and responds to participant and client inquiries. * Acts as a back up to the manager in his/her absence. Coaches new associates on departmental policies, procedures, and processes. Coordinates and serves as a lead on assigned team projects. Performs other job assignments as necessary. Qualifications: * College degree preferred * MS Access software proficiency preferred * Experience using Agency, InfoPac, OmniPlan/OmniPlus, Business Objects, Agency Account Transfer System preferred * Ability to work easily in a team environment * Excellent organizational skills and the ability to handle multiple tasks and prioritize accordingly * Advanced knowledge of Word & Excel PC application software * Solid analytical skills with application to effective problem solving * Excellent verbal and written communication skills * Solid mathematical ability * Strong team leadership skills * College degree, OR a high school diploma/equivalent with a minimum of two years related work experience required T. Rowe Price is an Equal Opportunity Employer.Expected Travel Time: None Company: T. Rowe Price Location: Owings Mills, MD 21117 Status: Full Time, Employee Job Category: Accounting/Finance/Insurance Reference Code: 3035 Send this Job to a Friend Click here to see all T. Rowe Price opportunities Learn more about T. Rowe Price If you want to work in an environment that encourages professional development, continued learning and advancement throughout your career, apply today. T. Rowe Price is an Equal Opportunity Employer.