401(k) Compliance Associate

Betterment; New York (NY); On-site; USD 60,000 - 70,000; Full time

Benefits offered by this job

Equity for all employees

Flexible PTO & sabbatical

Parental leave

Job summary

Betterment is seeking a detail-oriented 401(k) Compliance Associate to join the 401(k) Compliance team within Betterment at Work. You will support annual compliance testing, prepare packages, and assist plan auditors while collaborating with cross-functional teams to deliver accurate, scalable solutions for 401(k) clients.

This salaried, non-exempt role is remote eligible outside planning-locations, with base salary ranging from $60,000 to $70,000 depending on location and experience.

Qualifications

• Some experience in 401(k) retirement industry.
• Interest in pursuing QKA and ASPPA certifications.
• Detail-oriented mindset with excellent organizational skills.
• Ability to handle multiple priorities and problem-solve
• Proactive approach to reimagining processes
• Effective communication with cross-functional teams
• Ability to maintain the highest level of confidentiality
• Familiarity with FTWilliam or similar compliance testing software
• Proficiency in Google Suite and Microsoft Office

Responsibilities

• Annual compliance administration: prepare testing packages and employer contribution calculations.
• Reconcile plan activity and prepare Form 5500s for large or conversion clients.
• Assist plan auditors by providing data samples and documents.
• Daily administration: handle plan amendments, terminations, conversions, and deconversions.
• Analyze operational errors affecting missed deferrals and corrections.
• Draft 401(k) plan documents for conversions and set up in the system.
• Collaborate with Client Experience teams for a unified client experience.
• Suggest improvements to procedures for efficiency and scalability.
• Work with engineering/product/design to develop scalable solutions.

Skills

Attention to detail

Organizational skills

Communication skills

Cross-functional collaboration

Problem solving

Confidentiality

Adaptability

Tools

Google Suite

Microsoft Office

Job description

About Betterment

Betterment is a leading, technology-driven financial services company that offers investing, savings and retirement solutions for retail investors and investment advisors as well as financial wellness solutions, including a 401(k) for small and medium-sized businesses. Our team is passionate about our mission, to empower people to build wealth with confidence and ease.

About Betterment

Betterment is a leading, technology-driven financial services company that offers investing, savings and retirement solutions for retail investors and investment advisors as well as financial wellness solutions, including a 401(k) for small and medium-sized businesses. Our team is passionate about our mission, to empower people to build wealth with confidence and ease.

About The Role

Are you a process-driven problem solver who loves checking items off your to-do list? Do you thrive on turning inefficiencies into seamless processes? Does making complex tasks efficient and intuitive energize you? Do you seek to help scale solutions that aim to delight and empower clients? Do you have some relevant 401(k) industry experience?

Betterment’s 401(k) team is seeking a detail-oriented compliance associate with a passion for 401(k). This role is part of the 401(k) Compliance team within Betterment at Work. This team is the go-to group for 401(k) compliance subject matter expertise and are skilled in efficiency and technical 401(k) plan administration. You will be joining a group of individuals that empower each other to take ownership, lead the charge to create solutions that last and who motivate others to always keep the common goal in mind. For us, that goal is providing an exceptional experience to our 401(k) clients.

This is a salaried, non-exempt role that is remote eligible, except for the New York City metro area, San Francisco, Los Angeles, Seattle, Boston, Washington, D.C., & Orange County, CA. Below we've reflected the base salary range we would offer for this position in locations with city or state requirements. For those located elsewhere, the actual compensation offered will be based on candidate experience and geographic location. Actual salaries may vary depending on factors including but not limited to location, experience, and performance. The range listed is just one component of Betterment’s total compensation package for employees.

• $60,000 - $70,000

A Day in the Life

Annual Compliance Administration

• Play an integral role in the annual compliance testing season for 401(k) clients by preparing compliance testing packages and employer contribution calculations
• Reconcile plan activity and prepare Form 5500s for large and/or conversion clients
• Assist 401(k) plan auditors by providing requested plan information and data samples

Daily Administration

• Assist with advanced compliance processes such as plan amendments, plan terminations, conversions and deconversions
• Analyze facts and circumstances of operational errors that result in the calculation of missed deferral opportunities, lost earnings and other corrective actions
• Draft 401(k) plan documents for conversion plans and set them up in our proprietary recordkeeping system

General Responsibilities

• Collaborating with the Client Experience teams to provide a unified client experience
• Ensuring adherence to current procedures and controls, and make recommendations to improve efficiency and scalability
• Using creative problem solving skills to tackle operational challenges, investigate why they happened, and collaborate with the engineering, product, and design teams to develop solutions

What We’re Looking For

• Some experience in 401(k) retirement industry
• Interest in working towards QKA certification and other ASPPA certifications
• A detail-oriented mindset with excellent organizational skills
• Comfort handling multiple priorities at once and problem solving on the fly in a creative and holistic manner
• A proactive approach in reimagining existing processes to make them better
• Effective communication skills and experience working cross functionally with client facing teams or stakeholders
• Ability to maintain the highest level of confidentiality
• Familiarity with FTWilliam or similar compliance testing software
• Demonstrated proficiency in both Google Suite and Microsoft Office

Join a team built on these core values

We change lives

Be a part of a community of innovators working to transform financial outcomes for real people. Your work will make an impact, always laddering up to our mission; to empower people to build wealth with confidence and ease.

We set audacious goals

We set them for the company, our customers, and ourselves, and we won’t stop until we reach them. We don’t just show up; we give our all, then celebrate our wins.

We value all perspectives

When we collaborate, we're at our best. We believe diverse perspectives lead to better outcomes and strive to uphold our supportive and inclusive community.

We simplify financial services

We’re financial services pioneers, always finding new ways to improve, optimize, and enhance. Constant improvement is in our DNA.

Our Commitment To Your Total Well-being

• We offer a competitive suite of benefits, including medical, dental, and vision coverage; life and AD&D insurance; short- and long-term disability; infertility support and WPATH-aligned transgender health benefits; an Employee Assistance Program (EAP); transit benefits and FSA and HSA options
• Ownership: Equity for all employees, including new hire and refresher grants.
• Time: Flexible paid time off, paid parental leave, and a fully paid four-week sabbatical in your sixth year.
• Growth: Company-paid professional coaching for all employees.
• Wealth: Day-one 401(k) match plus matching on qualified student loan payments.

Betterment is dedicated to providing accommodations to candidates upon request. If you need accommodations at any point throughout the interview process, please reach out to your recruiter.

Please note that in any materials you submit, you may redact or remove age-identifying information such as age, date of birth, or dates of school attendance or graduation. You will not be penalized for redacting or removing this information.

We’re an equal opportunity employer and comply with all applicable federal, state, and local fair employment practices laws. We strictly prohibit and do not tolerate discrimination against employees, applicants, or any other covered persons because of race, color, religion, creed, national origin or ancestry, ethnicity, sex, gender (including gender nonconformity and status as a transgender or transsexual individual), sexual orientation, marital status, age, physical or mental disability, citizenship, past, current or prospective service in the uniformed services, predisposing genetic characteristic, domestic violence victim status, arrest records, or any other characteristic protected under applicable federal, state or local law.