Senior Retirement Plan Consultant

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General Function

The Fifth Third Institutional Services (FTIS) Senior Retirement Plan Consultant serves as the primary contact for assigned Retirement Plan Advisory Services (RPAS) National and Regional institutional clients. The FTIS/RPAS Retirement Plan Consultant provides clients with industry, regulatory, and legislative updates that may impact their plan and, where appropriate, offers ideas and advice on complex issues such as plan design, compliance, and service provider product developments. This role is knowledgeable of the full suite of Fifth Third Institutional products and services, including investment management and trust and custody solutions.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures. Accountable for always doing the right thing for customers and colleagues and ensuring that actions and behaviors drive a positive customer experience. While operating within the Bank’s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

Responsibilities

• Maintain and retain assigned book of business, both locally and nationally, by following established RPAS procedures and utilizing fiduciary oversight best practices.
• Coordinate employee education campaigns with a client’s other service providers to promote plan participation and full utilization of the benefits a plan offers employee participants.
• Meet annual cross-sell goals by identifying additional business opportunities with existing clients, including additional benefit plan consulting and company investment management or custody opportunities. Leverage internal relationships with Fifth Third senior leadership, Institutional Sales Officers, Commercial Relationship Managers, Corporate Bankers, Business Banking Relationship Managers, Private Bankers, Wealth Management Advisors, and Institutional Portfolio Managers to facilitate the One Bank strategy of consultatively selling Fifth Third's full suite of financial products and services.
• Represent the Fifth Third Bank in civic, government, community, charitable, banking, and other professional groups and associations to develop contacts and new business opportunities and to promote the Bank's positive image and brand.

• Understand the FTIS RFP process and value propositions and assist the sales team by explaining the benefits of advisory services, preliminary benchmarking results, and fund line-up recommendations. Participate in finals presentations to prospects.
• Provide a complete overview of a client’s or prospect’s plan features and demographics and advise the sponsoring company on an appropriate course of action to meet retirement plan goals with optimal outcomes.
• Adhere to the defined FTIS RPAS service delivery model. Document all client interactions in the CRM system in a timely manner.
• Embrace FTIS mission, value propositions, and points of differentiation.
• Proactively manage client documentation, pricing, profitability, and fee structures in accordance with approved administrative and pricing guidelines.

• Conduct annual fiduciary training for plan committee members.
• Review, approve, and monitor fee invoices to ensure accurate billing and timely payment by clients.
• Lead or participate in special and cross-functional projects to enhance FTIS products and services. Serve as subject matter expert for new product or service rollouts for regional and corporate bank teams.
• Meet ASPPA required annual continuing education to retain certifications (see requirement below).
• Be accountable for timeliness and accuracy of annual administrative file reviews in collaboration with the client service team.
• Partner with the client service team to ensure internal compliance and proper documentation requirements are met, consistent with internal fiduciary policies and procedures regarding new accounts, asset acceptances, and other bank policies.

• Develop strong relationships with regional recordkeeping vendors (e.g., EMPOWER, Fidelity, Vanguard, Principal) to understand vendor recordkeeping product offerings and tools and support client access to plan data.
• Meet with clients virtually, in person, or in a hybrid approach at least annually, in coordination with the assigned Investment Advisor. Review plan health reports and update clients on latest regulatory and/or legislative issues. Prepare minutes of plan committee meetings for final approval.
• Drive and maintain client engagement by acting on client experience data and feedback.
• Partner with Middle Office Representatives and Client Service Managers to enhance client satisfaction, profitability, and operational efficiency for all clients.

• May provide onboarding support, coaching, and mentoring to new team members (Retirement Plan Consultants).

Minimum Knowledge, Skills And Abilities Required

• Bachelor's degree; Finance, Accounting, Economics, or Business Administration preferred.
• Ten years of relevant experience with ERISA plans.
• ASPPA certification required, including 401(k) Administrator (QKA) and Qualified 401(k) Consultant (QKC).
• Ability to handle large and complex retirement plan client relationships; experience identifying plan design and compliance issues and resolving them.
• Excellent interpersonal, written, and verbal communication skills.
• Superior presentation skills in client and sales contexts.
• Strong problem-solving and analytical abilities.
• Excellent relationship management and collaboration skills.
• Proven experience leading large strategic projects from start to finish.
• Proficient in Microsoft Word, Excel, and PowerPoint.

Working Conditions

• Normal office environment with typical exposures.
• Extended viewing of monitor.
• Periodic travel may be required to client meetings, including potential overnight or long-distance travel.

Senior Retirement Plan Consultant

Total Base Pay Range 94,500.00 - 203,200.00 USD Annual

Location -- Chicago, Illinois 60606

Fifth Third Bank, National Association is committed to equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.

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