Junior Defined Contribution Retirement Plan Administrator - Hybrid Remote

First American Bank was founded in Chicago, and over the years has expanded throughout Wisconsin and Florida. As the largest privately held bank in Illinois, we now have over 60 locations and assets of $5+ billion. We are a community bank at heart with international expertise, traditional values, and a forward-looking philosophy. Our employees have the experience and vision to meet the needs of savers, borrowers, and businesses in the 21st century. First American Bank can offer employees a level of visibility, career growth, and stability that is difficult to find in many larger corporations.

This non-exempt (hourly) role is responsible for administering qualified retirement plans by preparing financial statements, valuation reports, participant statements, and required government filings while ensuring compliance with applicable regulations and plan design provisions. The position performs compliance and nondiscrimination testing, allocates employer contributions, calculates vesting, loans, and distributions, and maintains accurate participant data. It also serves as a primary point of contact for clients and their advisors, managing multiple priorities to meet strict deadlines efficiently.

Duties & Responsibilities

Compile and review trust financial statements in accordance with internal policies and procedures.
• Review employee census data to determine plan eligibility.
• Prepare valuation reports and participant statements.
• Perform compliance and nondiscrimination testing including ADP/ACP, 410(b) coverage, top heavy, 415 annual addition limits and cross testing.
• Prepare required governmental reporting forms (including but not limited to Forms 5500, 1099-R, 945, 5330).
• Allocate employer contributions under cross tested, pro-rata and integrated formulas.
• Calculate and update vesting, ensuring compliance with plan design and regulatory standards.
• Calculate amount available for loans and process necessary paperwork.
• Prepare and process distribution packages for terminated, retired or deceased plan participants.
• Communicate directly with clients and their professional advisors regarding plan administration.
• Manage time and prioritize tasks to ensure work is done efficiently and adheres to deadlines.
• Conduct and complete additional assignments/projects as designated by management.

Qualifications

• High school diploma or equivalent required. Associate degree preferred.
• Minimum of three months of general previous work and/or internship experience.
• Business Experience or Defined Contribution experience a plus but not required.
• Demonstrated aptitude for mathematical calculations and analytical tasks, with the ability to interpret data accurately and identify trends or discrepancies.
• We provide extensive training for this position.
• Qualified military veterans are encouraged to apply.
• Must be professional, comfortable speaking with external and internal contacts with a demonstrated ability to tailor the message appropriately to the audience and situation effectively.
• Demonstrated ability to convey thoughts and ideas effectively and succinctly via written formats, including emails, letters, and electronic platforms. Maintain professional standards relating to spelling and grammar.
• Maintain credibility through professional demeanor, appearance, and presence by modeling standards appropriate to our environment and industry.
• Maintain good working relationships with internal partners by exhibiting exemplary interpersonal skills, adopting a constructive, solutions-focused approach.
• Use sound professional judgment to balance the interests of the organization and customer, understanding and using available resources to mitigate risks.
• Proficiency with Microsoft 365 products and applications, including the ability to effectively prepare or review documents, procedures, and reports.
• Demonstrated ability to learn new systems and applications, as well as the ability to understand, adapt and adjust responsibilities/workflows as a result of system upgrades.
  Travel Required (if applicable):
• Occasional travel to other First American Bank locations, Bank functions and training facilities may be required.
• Typical hours are Monday through Friday 8:00 a.m. to 5:00 p.m. Additional hours may be required depending upon business need.
• Additional hours may be required during busy season (January to March) and other times as needed.
• Punctuality is required to maintain First American Bank's customer service standards.