Director, 401(k) Compliance

Betterment, United States

Investing Made Better

Betterment for Business

Betterment for Business is a 401(k) service built from the ground up with the needs of the modern employee in mind. It's selected by employers who want to offer their employees tailored and smart financial advice that will help them create a more secure future. Betterment for Business is powered by Betterment's proprietary, smart technology that automates and optimizes asset allocation to enhance financial wellness. As a fiduciary that is independent of the funds it invests in, Betterment believes that everyone has the fundamental right to expert financial advice. In addition to the core investing services, Betterment’s platform includes Betterment Everyday—Betterment’s cash management suite which offers a checking account, debit card, and high-yield account. Headquartered in New York City and created by the largest independent robo-advisor, Betterment for Business is used by leading employers like Casper and Boxed. For more information, visit www.betterment.com/401k.

401(k) plan administration services provided by Betterment for Business LLC. Investment advice to plans and plan participants provided by Betterment LLC, an SEC registered investment adviser. Brokerage services provided to clients of Betterment LLC by Betterment Securities, an SEC registered broker-dealer and member FINRA/SIPC. Betterment LLC and Betterment Securities are affiliates of Betterment for Business LLC.

About the Role:

You are motivated by providing world-class service to clients, with excellent attention to detail and a strong ability to translate 401(k) plan administration to internal and external partners. As a subject matter expert in retirement plan administration, you provide internal education on ERISA, DOL and IRS rules, regulations, and developing legislation. You know how to strategize scaling a 401(k) compliance team to serve the needs of a wide variety of clients in the small-medium business space. You can balance being a client advocate while prioritizing the immediate needs versus long term vision. You prioritize relentlessly, effectively leading your team and ensuring Betterment for Business and client plans stay compliant and keep pace with changes in the retirement benefits space. You are perpetually curious; always looking to improve yourself and those around you. You are able to distill complicated information for clients and internal teams to help them understand plan performance. You are entrepreneurial and can demonstrate quick thinking and creative problem-solving. You dream up ways to change and improve the way Americans save money for their retirement.

As the primary owner of retirement solutions compliance at Betterment for Business, this role is critical to the success of our business. We welcome strong self-starters who are scrappy, inventive, and who strive to craft the best possible plan sponsor experience.

This role is remote eligible. Colorado has an annual starting salary of $189,000, a competitive equity package, health, dental and vision benefits, and a 401(k) offering. This job may also be eligible for variable compensation in the form of an incentive bonus. The actual pay may be higher depending on your skills, qualifications, and experience. 

A Day in the Life: 

  • Evaluate and advise on the implementation, and administration of ERISA, DOL and IRS regulations and related components of our retirement plan programs
  • Provide day-to-day advice and education on processes and controls to comply with ERISA, DOL and IRS rules relating to defined contribution retirement plans
  • Partner with Operations and client facing teams to design processes and controls to meet applicable reporting and disclosure requirements, including plan sponsor and participant required disclosures 
  • Oversee the successful execution of annual plan compliance tasks such as non-discrimination testing, client audits and form 5500 preparation and filing in conjunction with Compliance & Operations managers
  • Act as the primary liaison with product, internal and outside counsel as needed on new product requirements, legislation and regulatory requirements
  • Resolve plan administration escalations and proactively implement processes to avoid operational risks to business
  • Maintain an on-going relationship with TPAs, advisors, clients, prospective clients and business partners to identify goals of the plan sponsor and offer top tier support, including scalable educational materials
  • Provide subject matter expertise to sales and marketing teams to assist in identifying solutions to the needs of the prospective clients and effectively translating the value we provide
  • Represent Betterment for Business at retirement industry conferences, webinars and events

What We’re Looking For: 

  • More than a few years of experience of compliance for defined contribution plans either at a recordkeeper or TPA firm
  • Strong knowledge of IRS and DOL rules and regulations relating to retirement savings plans
  • Proven track record working directly with clients, including examples of positively impacting product adoption
  • Ability to initiate and drive projects to completion with minimal guidance
  • Proficiency in Salesforce, GSuite, Microsoft office; familiarity with Asana, Outlook and/or Zendesk preferred but not required
  • QPA (Qualified Pension Administrator) and QKA (Qualified 401(k) Administrator) License required, CPC (Certified Pension Consultant) preferred

What Being at Betterment Means for You:

Joining Betterment means belonging to a community of folks passionate about change, being on a team that cares for your well-being, and continuing on a journey of non-stop growth and evolution. 

You’ll join a Community that Cares: 

  • Betterment is a place to bring your best self. We welcome families (and pets) for all our activities such as lunches, company retreats, and celebrations. 
  • Make meaningful connections with your peers through interest groups, sports clubs, social events, meetups, and regular knowledge sharing, all occurring in a remote friendly way.
  • Join one or more of our 8 Employee Resource Strategy Groups as a member or an ally, and help us shape Betterment’s culture and product for years to come.

You’ll stay Happy and Healthy:

  • We will ensure you're set up and cared for with a customizable workstation, enrollment in our 401(k) service, flexible parental leave, annual gym reimbursements and a whole suite of thoughtful benefits. 
  • You’ll have unlimited paid personal and vacation days, and a team that cares about your whole life, not just what you’re working on.

You’ll Learn & Grow:

  • Enhance your skills and abilities through Betterment University courses and additional allowance for outside learning. 
  • As part of a team that values knowledge sharing and transparency you can opt into mentoring and career coaching programs, weekly company meetings, and show & tells.

Please note that Betterment is dedicated to providing accommodations to candidates with disabilities. If you need accommodations at any point throughout the interview process, please reach out to [email protected] 

What Happens Next?

We expect to take a few weeks to review all applications. If we would like to spend more time with you, you will hear from us to arrange next steps. You can expect 3-4 sets of conversations, all remote, with your future colleagues in the weeks following your application.

Throughout the interview process, we’ll look to learn more about your skills, experiences, capabilities, and motivators. Many of our interview questions will be behavioral, aimed at understanding how you might operate here at Betterment. We may ask you to complete a case study exercise or technical assessments, depending on the role, as we aim to collect a robust set of data points throughout the interview process.

On average, it takes us around 2-3 weeks to make a hiring decision, depending on your availability and sense of urgency. As a best practice, we aim to interview at least 3 final round candidates before making a hiring decision.

Please note that we’re unable to offer individual feedback during the interview process. We usually see 1,000+ applications for open positions, and our hiring team simply doesn’t have the bandwidth to offer personalized feedback to each candidate. 

We recognize that interviewing for a new role is a big deal. We appreciate you giving us consideration as the next step in your career. Our Recruiting Team is here to support and advocate for you through the interview process, so please let us know how we can help. 

Come join us!

We’re an equal opportunity employer and comply with all applicable federal, state, and local fair employment practices laws. We strictly prohibit and do not tolerate discrimination against employees, applicants, or any other covered persons because of race, color, religion, creed, national origin or ancestry, ethnicity, sex, gender (including gender nonconformity and status as a transgender or transsexual individual), sexual orientation, marital status, age, physical or mental disability, citizenship, past, current or prospective service in the uniformed services, predisposing genetic characteristic, domestic violence victim status, arrest records, or any other characteristic protected under applicable federal, state or local law.

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About Betterment

Betterment is the largest independent online financial advisor with more than $9 billion in assets under management. The service is designed to help increase customers’ long-term returns and lower taxes for retirement planning, building wealth, and other financial goals. Betterment takes advanced investment strategies and uses technology to deliver them to more than 250,000 customers across its three business lines: direct-to-consumer, Betterment for Advisors, and Betterment for Business. Learn more

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