Senior Associate supporting compliance solutions for institutional clients in asset management. Delivering regulatory compliance and risk management expertise within a hybrid work environment.
About the role
- Supports Transamerica's retirement compliance program for qualified retirement plan clients. Helps mitigate legal risk by enforcing company policies and regulatory requirements.
Responsibilities
- Perform risk-based independent compliance testing for the record-keeping and fiduciary administration affiliates.
- Maintain and update assigned compliance risk assessments, as part of the team’s annual compliance monitoring plan.
- Monitor federal/state laws and regulations, as well as applicable rulings, notices and guidance, as they pertain to qualified retirement plan administration and record-keeping services, and advise senior leadership of impact to current processes.
- Evaluate process workflows/maps to identify potential areas of risk (e.g. – regulatory, legal, operational, reputational, etc.) and effectiveness of key controls.
- Act as a trusted advisor to the record-keeping and fiduciary administration affiliates regarding best practices and remediation of regulatory compliance concerns.
- Contribute to the development of new and/or enhanced compliance programs and enterprise-wide initiatives.
- Update and maintain complete and accurate compliance logs or files.
- Assist team members with research and assigned tasks.
- Create and present compliance training, as necessary.
- May assist management with highly complex projects and coaching/development of staff.
- Maintain open communication with business process owners on testing scope, objectives and progress.
- Coordinate and conduct meetings and interviews with business process owners and staff; gather data, procedures and other documentation necessary for performing assigned compliance testing.
- Propose testing scope, review internal controls and compare records, operating practices, and documentation with test attributes applicable to assigned audits.
- Document tests and findings; appraise adequacy of internal compliance controls, propose recommendations and coordinate/document corrective action plans.
- Draft compliance reports and present/discuss findings with business process owners and senior management.
- Active participation in the periodic compliance risk assessment process, development of annual testing plans, scheduling/assignment of testing, and design of compliance testing programs.
Requirements
- Bachelor’s degree or equivalent education and experience.
- Four years of qualified retirement plan administration experience.
- Working knowledge and oversight experience in the following regulatory compliance areas as applicable to qualified retirement plans: ERISA/DOL/IRS regulatory and qualification requirements for single employer and MEP/PEP retirement programs, EPCRS guidelines, and applicable plan/participant reporting and disclosure requirements.
- Written and verbal communication skills.
- Successfully present complex technical information to non-technical audiences.
- Analytical and research skills.
- Proficiency using MS Office tools.
- Industry certifications preferred (e.g. – QPA, QKA, QKC)
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
- 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
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