Director, Retirement Compliance

At Transamerica, hard work, innovative thinking, and personal accountability are qualities we honour 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.

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. 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.

Transamerica is organized into three distinct businesses:

• World Financial Group, including Transamerica Financial Advisors
• Protection Solutions and Savings & Investments, comprised of life insurance, annuities, employee benefits, retirement plans, and Transamerica Investment Solutions
• Financial Assets, which includes legacy blocks of long term care, universal life, and variable and fixed annuities

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.

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 analyse 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/analyse 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 participate 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.

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.

• Competitive Pay
• Bonus for Eligible Employees
• 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 various awards and recognitions.

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.