ESOP/KSOP Processing Specialist

Job Description

Job Description

Overview

At Community Financial System, Inc. (CFSI), we are dedicated to providing our customers with friendly, personalized, high-quality financial services and products. Our retail division, Community Bank, N.A., operates more than 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts. Beyond retail banking, we also offer commercial banking, wealth management, investment management, insurance and risk management, and benefit plan administration.

Just as our employees are committed to helping our customers manage their finances, we’re committed to our employees. After all, they make it happen for our customers every day.

To ensure our people can enjoy long and successful careers here at CFSI, we offer competitive compensation, great benefits, and professional development and advancement opportunities. As an equal-opportunity workplace and affirmative-action employer, we celebrate and support a diverse workplace for the benefit of all: our employees, customers and communities.

Responsibilities

The ESOP/KSOP Processing Specialist is responsible for the daily and annual processing of all ESOP and KSOP plans managed by the ESOP Team. This role coordinates annual plan functions, monitors task completion in PTM, and ensures accurate and timely processing in the OMNI system.

Essential Responsibilities:

Daily & Annual Plan Processing

• Manage contributions (share allocations), forfeitures, dividends, and income postings for daily KSOP and balance forward ESOP plans
• Process distributions for daily-traded transactions and stock plans handled by external trustees
• Handle diversification processing and buybacks
• Perform Social Security Number (SSN) mergers and changes

KPH-Specific Processing

• Lead and monitor distribution and diversification processes
• Run weekly trade estimates and trade confirmation reports
• Prepare KPH diversification forms and update OMNI for terminations and required paperwork
• Post contribution files in OMNI

Administrative & Support Functions

• Prepare and mail distribution forms, including plan review for terminated employees eligible for distributions
• Conduct semi-annual reviews for force-out distributions
• Prepare and track diversification forms for completion

Qualifications

• Experience with ESOP/KSOP plan administration preferred
• Familiarity with OMNI system or similar recordkeeping platforms
• Strong organizational skills and attention to detail
• Ability to coordinate multiple tasks and meet deadlines
• Excellent communication and teamwork skills
• All applicants must be 18 years of age or older

Other:

This position is a critical member of the ESOP Team, ensuring that plan participants’ accounts are accurately maintained and compliant with plan provisions. You’ll work closely with team members, consultants, and external trustees to support the smooth operation of all ESOP/KSOP plans.