Director, Retirement Compliance

Transamerica; United States; Hybrid; USD 140,000 - 180,000; Full time

Job summary

Transamerica is seeking a Director, Retirement Compliance Testing to oversee compliance activities and ensure the accurate completion of IRS Form 5500 and nondiscrimination testing. This leadership role requires a thorough understanding of regulatory standards, exceptional management skills, and the ability to guide teams effectively in a dynamic work environment.

Benefits

Pension Plan

401k Match

Employee Stock Purchase Plan

Tuition Reimbursement

Medical Insurance

Paid Time Off starting at 160 hours annually

Parental Leave

Employee Assistance Program

Career Training & Development Opportunities

Referral Bonus Programs

Qualifications

• Ten years of experience with defined contribution plans.
• Ten years of management experience.
• In-depth knowledge of Form 5500 and nondiscrimination testing.

Responsibilities

• Provide guidance and direction to staff to ensure service accuracy.
• Research and analyze new legislation/regulations.
• Ensure compliance with IRS-mandated deadlines.

Skills

Analytical

Project Management

Communication

Research

Leadership

Education

Bachelor’s degree in a business field

Tools

MS Excel

MS Word

Job description

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About Us

At Transamerica, hard work, innovative thinking, and personal accountability are qualities we honor and reward. We understand the potential of leveraging the talents of a diverse workforce. We embrace an environment where employees enjoy a balance between their careers, families, communities, and personal interests.

Job Family

Regulatory Compliance

About Us

At Transamerica, hard work, innovative thinking, and personal accountability are qualities we honor and reward. We understand the potential of leveraging the talents of a diverse workforce. We embrace an environment where employees enjoy a balance between their careers, families, communities, and personal interests.

Ultimately, we appreciate the uniqueness of a company where talented professionals work collaboratively in a positive environment — one focused on helping people look forward and plan for the best life possible while providing tools and solutions that make it easier to get there.



Who We Are



We believe everyone deserves to live their best life. More than a century ago, we were among the first financial services companies in America to serve everyday people from all walks of life.

Today, we’re part of an international holding company, with millions of customers and thousands of employees worldwide. Our insurance, retirement, and investment solutions help people make the most of what’s important to them.

We’re empowered by a vast agent network covering North America, with diversity to match. Together with our nonprofit research institute and foundation, we tune in, step up, and are a force for good — for our customers and the communities where we live, work, and play. United in our purpose, we help people create the financial freedom to live life on their terms.

What We Do

Transamerica is organized into three distinct businesses. These include 1) World Financial Group, including Transamerica Financial Advisors, 2) Protection Solutions and Savings & Investments, comprised of life insurance, annuities, employee benefits, retirement plans, and Transamerica Investment Solutions, and 3) Financial Assets, which includes legacy blocks of long term care, universal life, and variable and fixed annuities. These are supported by Transamerica Corporate, which includes Finance, People and Places, General Counsel, Risk, Internal Audit, Strategy and Development, and Corporate Affairs, which covers Communications, Brand, and Government and Policy Affairs.

Transamerica employs nearly 7,000 people. It’s part of Aegon, an integrated, diversified, international financial services group serving approximately 23.9 million customers worldwide.* For more information, visit transamerica.com.

Job Description Summary

Direct managers and professional teams in the preparation of IRS Form 5500 and nondiscrimination testing for in-force clients of tax-exempt, Taft-Hartley, MEP, and qualified plans. Direct the team that handles domestic relations order (DRO) qualifications for in-force clients of their tax-exempt, governmental, 457, non-qualified, Taft-Hartley, MEP, and qualified plans.

Job Description

Responsibilities:

• Provide guidance and direction to staff to ensure timely, accurate service is given to clients through productivity management, employee development, and implementation of quality controls.
• Research and analyze new legislation/regulations to determine impact on current procedures.
• Revise/update/create procedures to ensure ongoing compliance with new laws.
• Ensure clients, for whom Company provides Form 5500 and nondiscrimination testing services, are provided services within the IRS-mandated deadlines. Ensure DROs are qualified based on the DOL requirements.
• Review/analyze plan mergers and corporate acquisitions with respect to the impact focusing on nondiscrimination testing.
• Provide key consulting resources to staff, colleague departments, sales staff, clients, advisors, and third-party administrators in situations that require a high degree of expertise and diplomacy
• Interface with Legal to review unusual situations as necessary.
• Work with client’s legal counsel for items pertaining to nondiscrimination testing.
• Research items pertaining to Form 5500, nondiscrimination testing or QDROs using available resources, Internet and other technical resources.
• Conduct presentations to clients, field and internal staff as appropriate.
• Provide technical expertise on regulatory developments regarding Form 5500 and nondiscrimination testing issues. Ensure proper system modifications are made to accommodate new products/regulatory developments.
• Lead special projects and committees.
• Identify, plan, and direct the execution of both short- and long-term departmental goals.
• Establish, maintain, and update business processes to ensure contract obligations are met; software delivery meets business requirements, and issue/problem resolution negotiated.
  
  

Qualifications:

• Bachelor’s degree in a business field or equivalent related work experience
• Ten years of experience with defined contribution plans
• Ten years of management experience
• In-depth knowledge of Form 5500 and nondiscrimination testing software, recordkeeping, and associated administrative systems
• In-depth understanding of Corporate administrative capabilities
• Technical knowledge of ERISA, IRS, DOL, revenue procedures, notices, and current legislation.
• Excellent written/oral communication and presentation skills to participant in sales and implementation process meetings
• Strong mathematical, analytical, and research skills
• Project management and time management skills
• Advanced skills using MS Excel and Word
  
  

Working Conditions:

• Office or hybrid office/remote environment
  
  

Compensation:

The Salary for this position generally ranges between $115,000 - $135,000 annually. Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors including qualifications, experience, geography, work location designation (in-office, hybrid, remote) and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.

Additionally, this position is typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.

This job description is not a contract of employment nor for any specific job responsibilities. The Company may change, add to, remove, or revoke the terms of this job description at its discretion. Managers may assign other duties and responsibilities as needed. In the event an employee or applicant requests or requires an accommodation in order to perform job functions, the applicable HR Business Partner should be contacted to evaluate the accommodation request.

What We Offer

For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees.

Compensation Benefits

• Competitive Pay
• Bonus for Eligible Employees
  
  

Benefits Package

• Pension Plan
• 401k Match
• Employee Stock Purchase Plan
• Tuition Reimbursement
• Disability Insurance
• Medical Insurance
• Dental Insurance
• Vision Insurance
• Employee Discounts
• Career Training & Development Opportunities
  
  

Health and Work/Life Balance Benefits

• Paid Time Off starting at 160 hours annually for employees in their first year of service.
• Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).
• Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars
• Parental Leave – fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.
• Adoption Assistance
• Employee Assistance Program
• College Coach Program
• Back-Up Care Program
• PTO for Volunteer Hours
• Employee Matching Gifts Program
• Employee Resource Groups
• Inclusion and Diversity Programs
• Employee Recognition Program
• Referral Bonus Programs
  
  

Inclusion & Diversity



We believe our commitment to diversity and inclusion creates a work environment filled with exceptional individuals. We’re thrilled to have been recognized for our efforts through the Human Rights Campaign Corporate Equality Index, Dave Thomas Adoption Friendly Advocate, and several Seramount lists, including the Inclusion Index, 100 Best Companies for Working Parents, Best Companies for Dads, and Top 75 Companies for Executive Women.



To foster a culture of inclusivity throughout our workforce, workplace, and marketplace, Transamerica offers a wide range of diversity and inclusion programs. This includes our company-sponsored, employee-driven Employee Resource Groups (ERGs), which are formed around a shared interest or a common characteristic of diversity. ERGs are open to all employees. They provide a supportive environment to help us better appreciate our similarities and differences and understand how they benefit us all.



Giving Back



We believe our responsibilities extend beyond our corporate walls. That's why we created the Aegon Transamerica Foundation in 1994. Through a mix of financial grants and the volunteer efforts of our employees, the foundation supports nonprofit organizations focused on the things that matter most to our people in the communities where we live and work.



Transamerica’s Parent Company

Aegon acquired the Transamerica business in 1999. Since its start in 1844, Aegon has grown into an international company serving more than 23.9 million people across the globe.* It offers investment, protection, and retirement solutions, always with a clear purpose: Helping people live their best lives. As a leading global investor and employer, the company seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion and diversity.

• As of December 31, 2023
  
  

Seniority level

• Seniority level

  Director

Employment type

• Employment type

  Full-time

Job function

• Job function

  Legal

• Industries

  Insurance and Financial Services

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