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RESPONSIBILITIES:
- Project manages work of several internal departments, client, financial advisors and client's prior recordkeeper to ensure a successful implementation and is the subject matter expert for all functional areas through ADP for the conversion.
- Perform welcome call and explain the implementation process to the client, ensuring the client understands actions they need to take in order to ensure a successful implementation, and identify/introduce other team members who will interact directly with the client.
- Assist client with prior recordkeeper notification and obtaining a liquidation date.
- Provide the client with a blackout notice and explain the legal responsibilities for providing the notice to their plan participants in a timely manner.
- Manage the transfer of plan assets and participant records by communicating directly with client's current providers and internal ADP departments.
- Establish Payroll Input call to review with client how to enter payroll deductions and compliance coding
- Work with client, prior recordkeepers and internal ADP parties on missing information needed to complete conversion to ADP RS.
- Responsible for preparation and distribution of all applicable client conversion communication
- Responsible for documentation based on department standards and coordination of seamless transition to Client Services.
- Failure to properly execute could cause significant financial impact to ADP and/or the client.
- Main contact during implementation from point of sale through the transition to Client Services.
- Monitors and communicates conversion status on a regular basis with client, sales and financial advisors.
- Drawing from retirement plan experience, product and legislative knowledge evaluates, assesses and recommends solutions to question / issues surfaced from client, and internal departments regarding the implementation.
- Consulting with client on non-standard issues
- Delivers ADP Prototype Adoption Agreement and reviews elections with client form both a regulatory and ADP Retirement Services administration perspective to ensure plan setup meets client expectations and confirms to the prototype's product specifications and system constraints.
- Work with the client and internal ADP groups on exception related processes requested by clients. This may include adding investment with restrictions, transfer in-kind, setup of brokerage accounts, special blackout notifications, special processes needed to be supported by Client Services and Operations, etc.
- Responsible for review of conversion data and records prior to plan being moved to production go-live.
- Communicates with client for appropriate conversion data approvals.
- Complexities may include review and communication of service calculations, combination of multiple loans into small number of loans, mapping of investment elections and deferral percents, etc.
- Participate on team projects.
- Research issues and share findings with other team members
- Mentor and train new associates.
- Assist with research and discussions with clients on escalated issues.
- Performs other related duties as assigned.
- Bachelor's Degree or its equivalent in education and experience
- 5 to 8 Years of Directly Related Experience
- This position will be able to service plans of all complexities and all roll call values.
- 3 years of successful experience as retirement Conversion Project Manager or equivalent experience
- Strong knowledge of defined contribution industry
- Solid understanding of ERISA regulations
- Strong analytic and organizational skills
- Strong oral and written communication skills
- Strong influence, prioritization, adaptability and multi-tasking skills
- Able to apply recordkeeping and regulatory concepts and methodologies