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POSITION:  RETIREMENT SERVICES MANAGER

Summary:

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being.  We are committed to exceeding expectations and having a strong commitment to diversity and inclusion.  As Retirements Services Manager, you are responsible for coordinating all Bank retirement plan operations including planning, organizing, and administering Retirement Services related activities and programs. You will also be responsible to ensure strict adherence to all State and Federal laws and regulations regarding Retirement Services accounts by keeping abreast of new and changing laws and regulations, formulate new and revised policies as necessary with changes in retirement regulation, and oversee the overall management of the Bank’s Retirement Services Department, to include the year-end tax reporting.                                  

Key Result Areas: 

  • Manage the operations of the Retirement Services area including preparing the annual budget, monitoring of required minimum distributions and overseeing the abandoned property program for retirement accounts.
  • Act as a retirement plan Subject Matter Expert. Keep informed and continually monitor retirement plan regulations and developments and implement changes when necessary to ensure compliance with all Federal and State regulations. Provide team members with information pertaining to changes in regulations as they apply to the Bank's retirement plans.
  • Responsible for the ongoing training and development of Retirement Services team members and for supporting Learning & Development and Branch Operations with developing content for retirement classes and materials.
  • Act as a primary contact for Retirement audits and outside examinations (State, FDIC, etc.).  Work closely with Operations, Retail Banking, Internal Audit, Legal and Compliance to develop effective controls to prevent issues and resolve findings. Manage resolution of retirement issues relating to FISERV.
  • Act as the key contact for Retirement accounts and services with FISERV, addressing issues, enhancements, system updates, Retirement forms updates and processing options as they arise. Coordinate and complete the annual retirement fee program with FISERV.  Ensure that exempt accounts are coded properly, verifying that fees have been withdrawn correctly and on a timely basis.
  • Assist internal and external customers with retirement plan questions and issues. Also have the flexibility to meet with internal customers at branch locations, as needed. 
  • Manage year-end processing functions for Retirement Accounts.  Coordinate all tax reporting and statement production with FISERV and manage the overall distribution to customers.
  • Act as a member of the Compliance Committee. Oversee all Compliance related items for Retirement accounts and ensure compliance within reporting systems. 
  • Perform additional duties as required.

Qualifications: 

  • Bachelor’s degree or additional 4 years of work experience                                   
  • 8- 10 years' relevant experience in the retirement plans field.
  • Management experience preferred.                                     
  • Completion of ACB certification program as a Retirement Plan Specialist.
  • Strong knowledge of federal regulations as they relate to retirement plans, retirement plan products, retirement operations and overall Bank products.
  • Ability to make independent judgments and decisions and pay close attention to detail.
  • Strong communication and interpersonal skills.                  
  • Computer skills including Word, Outlook, Excel, Teams etc.

The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities the inclusion of which would be in conformity with the major purpose of this job.

Location:              

Waltham, Massachusetts 

About Cambridge Savings Bank: 

Cambridge Savings Bank is a full-service banking institution with over $5 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. To learn more about how we can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship.

Cambridge Savings Bank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.