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Benefits Compliance Manager

Company: Subaru of America
Location: Camden
Posted on: November 26, 2022

Job Description:

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 ERISA.
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 accurately.
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 plans.
Research and analyze third party (investment manager and trustee) financial statements and audit related issues.
Considerable interaction with Human Resources, Payroll, and Treasury.
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 (active) preferred
6 to 8 years of relevant experience

Keywords: Subaru of America, Camden , Benefits Compliance Manager, Executive , Camden, New Jersey

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