Benefits Compliance Manager
Company: Subaru of America
Posted on: November 26, 2022
SUMMARY Manages the financial reporting and accounting for the
company's qualified and nonqualified plans, which includes pension,
retirement and savings, welfare benefits, post-retirement benefits,
and supplemental executive retirement plans. Ensures regulatory,
tax, and legal compliance of all plans, manages annual benefit plan
audits, and coordinates regulatory agency audits. Responsibilities
will encompass forecasting and tracking expenses, investment
review, management support, and ad hoc projects. PRIMARY
RESPONSIBILITIES Financial reporting and accounting for the
Company's defined benefit and defined contribution plans (qualified
and nonqualified plans) and their respective Trusts. Prepare all
necessary financial statements, related disclosures and
supplemental schedules in accordance with GAAS and required under
Protect the assets/investments and the financial integrity of SOA's
retirement and benefit plans and ensure that the necessary funds
will be available to pay retirement, health, and other promised
benefits to employees.
Regulatory compliance, testing, and filings required by the DOL,
IRS, and state governmental authorities (Form 5500, 990, 990T
filings, tax calculations, and remittances).
Ensure plan and trust documents are compliant with regulatory
changes. In conjunction with Human Resources assure plan documents,
Summary Plan Description (SPD), policies, remain current and
relevant. Maintain documents are amended and/or updated timely and
Manage and coordinate annual retirement plan and welfare benefit
plan audits with independent auditor.
Stay abreast of latest regulatory, financial, and accounting
developments and standards, and ensure professional development
through ongoing education.
Provide financial analysis and ensure tax, regulatory and legal
compliance of corporate executive compensation programs (deferred
compensation plans, executive life insurance/death benefit, and
long term disability plans).
Management support and ad hoc projects. ADDITIONAL RESPONSIBILITIES
Effectively work with external auditors, government auditors,
actuaries, trustees, record keepers and consultants.
Forecast and track expenses for the pension and employee benefit
Research and analyze third party (investment manager and trustee)
financial statements and audit related issues.
Considerable interaction with Human Resources, Payroll, and
Recommend and implement process improvements. REQUIRED SKILLS AND
ABILITIES Proficient knowledge in retirement and benefit plan
operations, trust practices and operations, as well as, the special
standards and rules that apply to the plans and trusts.
Ability to interact with senior management.
Ability to work independently.
Excellent critical thinking, project management, analytical,
interpersonal, oral and written communication skills.
Highly motivated self-starter with ability to simultaneously
address multiple priorities.
Strong organizational skill and attention to detail.
EDUCATION/EXPERIENCE BA/BS in Accounting or related field (advanced
degree is highly desirable, but not mandatory); CPA certification
6 to 8 years of relevant experience
Keywords: Subaru of America, Camden , Benefits Compliance Manager, Executive , Camden, New Jersey
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