Transamerica
Senior Compliance Analyst - Retirement Solutions
Transamerica, Baltimore, Maryland, United States, 21276
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.
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: 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.
Job Description Summary Supports Transamerica’s retirement compliance program for record-keeping and fiduciary administration services provided to our qualified retirement plan clients. Helps to mitigate legal exposure/risk to the organization by enforcing company policies, procedures and applicable regulatory requirements. Possesses and applies broad knowledge of business and regulatory concepts and principles; works with minimal instruction or guidance with applicable latitude for unreviewed action or decisions; performs more complex assignments with minimal direction and guidance from management.
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.
Qualifications
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.
Preferred Qualifications
Industry certifications preferred (e.g. – QPA, QKA, QKC)
Working Conditions
Hybrid working environment: Baltimore, Cedar Rapids, Philadelphia, Denver
Compensation
The Salary for this position generally ranges between $82,000 - $90,000 annually. 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.
Applicants must possess legal authorization to work for our company in the U.S. without the need for immigration sponsorship or otherwise serving as an employer of record for immigration employment purposes. At this time, this role is not eligible for immigration-related employment authorization sponsorship.
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.
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
Paid Time Off starting at 160 hours annually for employees in their first year of service.
Ten 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 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
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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.
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.
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: 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.
Job Description Summary Supports Transamerica’s retirement compliance program for record-keeping and fiduciary administration services provided to our qualified retirement plan clients. Helps to mitigate legal exposure/risk to the organization by enforcing company policies, procedures and applicable regulatory requirements. Possesses and applies broad knowledge of business and regulatory concepts and principles; works with minimal instruction or guidance with applicable latitude for unreviewed action or decisions; performs more complex assignments with minimal direction and guidance from management.
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.
Qualifications
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.
Preferred Qualifications
Industry certifications preferred (e.g. – QPA, QKA, QKC)
Working Conditions
Hybrid working environment: Baltimore, Cedar Rapids, Philadelphia, Denver
Compensation
The Salary for this position generally ranges between $82,000 - $90,000 annually. 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.
Applicants must possess legal authorization to work for our company in the U.S. without the need for immigration sponsorship or otherwise serving as an employer of record for immigration employment purposes. At this time, this role is not eligible for immigration-related employment authorization sponsorship.
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.
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
Paid Time Off starting at 160 hours annually for employees in their first year of service.
Ten 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 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
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