Senior Director, Plan Administration at Transamerica

Senior Director, Plan Administration

locations

Work From Home, USA

time type

Full time

job requisition id

R20056723

Job Family

Operations – General

About Us

At Transamerica, hard work, innovative thinking, and personal accountability are qualities we honor and reward. We understand the potential unleashed by 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

The Senior Director of Plan Administration will provide leadership and strategic direction to Retirement Operations administration and operational processing management teams and staff supporting inforce clients across multiple market segments. Execute on business deliverables for critical plan administration functions including plan document services, service agreements, plan notices, regulatory mailings, compliance testing and reporting, and deconversion. Ensure day-to-day operational needs of plan sponsors and partners are met.

Job Description

Responsibilities

• Provide strategic guidance and direction to plan administration leaders to ensure teams provide timely, accurate service to clients through productivity management, quality controls, and continuous employee development.
• Contribute to strategies on corporate business applications, products, and services to ensure compliance with regulatory requirements.
• Research and analyze new legislation/regulations to determine impact to operational procedures.
• Ensure clients receiving Form 5500 and nondiscrimination testing services are provided services within IRS deadlines. Ensure domestic relations orders are qualified based on DOL requirements
• Provide input to executive leadership regarding the impact of plan document-related legislation/regulations on current programming and procedures.
• Ensure Plan Administration teams are revising, updating, and/or creating plan administration procedures that comply with new laws, regulations, and sub regulatory guidance.
• Ensure processes and procedures are in place to provide clients receiving plan document services with relevant documents to maintain a plan that is compliant with legislation.
• Provide direction for teams that review and analyze plan mergers and corporate acquisitions with respect to plan documents requirements as they develop recommendations and consult with clients/staff on implications.
• Provide consultative guidance to staff, colleague departments, sales staff, clients, advisors and third party administrators in situations that require a high degree of expertise and diplomacy.
• Lead dialogue with Legal department to review unusual situations as necessary.
• Serve as a senior resource to negotiate agreements on specific issues with client’s legal counsel.
• Serve as a senior resource for team members in the research of client and field inquiries.
• Provide technical leadership for new products and regulatory developments regarding plan document issues and ensure proper system modifications are made to accommodate new products/regulatory developments.
• Serve as project owner for key projects and participate on cross-departmental and leadership committees.
• Oversee the identification, planning, direction, and execution of short and long term departmental goals for qualified plan document production and the successful completion of repetitive legislative required restatement and amendment projects.
• Represent Transamerica at industry meetings.
• Oversee department budget and initiate cost saving initiatives as appropriate

Qualifications

• Bachelor’s degree in a business field or equivalent experience
• Extensive knowledge and experience in the defined contribution or retirement industry (typically 12 or more years)
• Leadership experience managing multiple teams
• In-depth knowledge of recordkeeping and associated administrative systems
• In-depth understanding of corporate administrative capabilities
• In-depth knowledge of ERISA, IRS and Department of Insurance regulations, revenue procedures, notices, and current legislation
• Leadership skills and the ability to be a change agent
• Strong problem-solving, analytical, and decision-making skills
• Outstanding communication, interpersonal, and relationship building skills to interact, influence, and collaborate with all levels of the organization
• Ability to grasp technical and complex concepts and convey to staff and internal/external customers
• Self-starter with strong organizational and project management skills
• Advanced skills using analytical tools and MS Office Suite

Preferred Qualifications

• Expert knowledge of Internal Revenue Service, Department of Labor, and state insurance regulations
• Expert knowledge of plan documents, service agreements, and funding agreements

Working Conditions

• Office or hybrid office/remote environment
• Moderate travel

**Please note that the compensation information that follows is a good faith estimate for this position only and is provided pursuant to applicable pay transparency and compensation posting laws. It is estimated based on what a successful candidate might be paid in certain Company locations.**

The Salary for this position generally ranges between $175,000-$190,000 annually. This range is an estimate, based on potential qualifications 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.

Worried about not having every single qualification listed? It’s okay. If it’s a role you’re interested in, we encourage you to apply. Employees who enjoy their jobs are one of our favorite things.

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.