ESOP Client Relationship Manager

2 weeks ago

Des Moines, Iowa, United States Principal Financial Group, Inc. Full time
Position Overview

As a Senior Client Services Manager for ESOP within our Employee Stock Ownership Plan (ESOP) Administration division, you will cultivate and sustain productive relationships with ESOP clients to drive growth, profitability, and retention in retirement services. Your role will involve delivering exceptional, efficient, and timely service to meet client expectations. You will collaborate with retirement plan service representatives and client advisors to strengthen the connections between clients and the organization while independently overseeing and coordinating all facets of a multi-process service offering for large and jumbo institutional clients.

Key Responsibilities
  • Ensure precise recordkeeping of client reporting and processing, taking ownership of the entire process, analyzing client source data, interpreting unique custom plan documents, preparing employee status and plan-level trust/financial reports, processing intricate allocation transactions, and generating final client and custom participant statements.
  • Conduct compliance testing and analysis, detailed distribution and diversification policies and processing, plan termination and de-conversion, legislation and technical knowledge, while developing a comprehensive understanding of various operating systems and proprietary applications.
  • Identify and investigate unusual or complex situations independently, employing creative problem-solving skills and extensive product knowledge to successfully resolve issues for at-risk clients and address complex client challenges.
  • Establish and nurture relationships with internal business partners, clients, and external advisors. Participate in or lead client visits to address administrative matters and proposals.
  • Achieve or surpass profitability targets by ensuring accurate and timely invoicing, monitoring accounts receivable, reviewing client fee schedules, and meeting productivity and quality benchmarks.
  • Engage proactively with clients to assist with inquiries, discussions on plan complexity, education, participant data, and plan administration procedures.
  • Encourage team development by sharing knowledge and insights with team members to resolve complex situations and provide technical support to other internal roles on procedural and task-related issues.
  • Undertake additional job-related responsibilities or special projects as required.
As a leading recordkeeper of Employee Stock Ownership Plans, Principal offers a diverse range of expertise and support to our clients, managing nearly 1,200 custom plans with varying levels of complexity. You will actively assist clients in comprehending requirements, plan language, and provide a broad spectrum of services and proactive consulting within a talented team environment.

Qualifications
  • Bachelor's degree or equivalent experience (preferably in Accounting or Finance).
  • 7+ years of relevant business experience.
  • Prior experience with ESOP is essential.
  • Strong accounting, analytical, and technical skills.
  • Excellent written and verbal communication skills, including problem-solving and negotiation abilities.
  • Requires extensive knowledge of plan and contract documents, accounting and record-keeping systems, manuals, procedures, and company products and services, as well as proficiency in PC applications including Excel.
  • Willingness to travel occasionally (1-3 times per year) for customer meetings and industry conferences may be necessary.
  • Ability to balance independent work with teamwork to meet client needs and achieve overall objectives.
Compensation Information

The salary range reflects targeted base salaries. Non-sales positions may participate in a bonus program. Sales roles are eligible for sales incentives, and in some cases, a bonus plan, where total compensation may significantly exceed base salary based on individual performance. Actual compensation will be determined based on geographic location, work experience, education, licensure requirements, and/or skill level at the time of offer.
Time Off Policy

Flexible Time Off (FTO) is available to salaried employees, allowing for paid time away from the office for vacation, personal matters, or short-term illness without accruing a specific bank of time off.
Pension Eligibility

Yes
Additional Information

Job Level

We will consider candidates at the next level with the appropriate experience and skills.

Work Environment

This role offers in-office, hybrid, and remote work arrangements. You will collaborate with your leader to determine the best option based on various factors.

Work Authorization/Sponsorship

Currently, we are not considering candidates requiring any type of immigration sponsorship or work authorization for this role.

Investment Code of Ethics

For positions within Principal Global Investors, adherence to an Investment Code of Ethics related to personal and business conduct, as well as personal trading activities, is required.

Experience Principal

Our expertise spans the globe, united by a common purpose: to foster a world where financial security is accessible to all. Our success relies on the unique experiences, backgrounds, and talents of our employees, both individually and collectively. Explore our core values, benefits, and discover why we are an exceptional place to advance your career.

Equal Opportunity Employer

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.

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