Note: The job is a remote job and is open to candidates in USA. Voya Financial is committed to providing financial opportunities for individuals and communities. The ERISA Technical Consultant plays a key role in delivering technical expertise and support for compliance testing and reporting across various retirement plans, serving as a subject matter expert in ERISA compliance and enhancing systems and processes to improve client outcomes.
Responsibilities
- Provide technical guidance, training, and support to professionals performing compliance services for Profit Sharing, 401(k), 403(b), MEP, and PEP plans
- Serve as a subject matter expert on ERISA compliance, testing methodologies, plan design interpretation, and IRS regulatory requirements
- Lead and support enhancements to systems, processes, procedures, and controls related to compliance testing and Form 5500 reporting
- Leverage technology, automation, and system capabilities to efficiently manage high-volume compliance testing and reporting workloads while maintaining exceptional accuracy and quality
- Perform compliance testing, with a focus on:
- 410(b) testing (Ratio Percentage Test and Average Benefits Test)
- 414(s) compensation testing
- 401(a)(4) nondiscrimination testing
- Rights, Benefits, and Features testing
- Calculate employer contributions for Safe Harbor and New Comparability plan designs
- Provide consulting support, plan design expertise, and technical guidance to relationship management, plan management, and clients
- Assist with complex operational issues, plan interpretation questions, correction methods, and regulatory compliance matters
- Develop working knowledge of Voya's recordkeeping systems, valuation reports, and compliance-related technology solutions
- Contribute to the development of best practices, operational efficiencies, and service enhancements that improve client outcomes and scalability
- Assist with additional duties and special projects as assigned
Skills
- Bachelor's degree in Business Administration or related field, or equivalent work experience in ERISA compliance
- 8–10 years of industry experience, including strong ERISA knowledge and applicable IRS regulations
- Minimum 5–7 years of experience in an ERISA compliance environment
- Experience supporting Multiple Employer Plans (MEPs) and/or Pooled Employer Plans (PEPs)
- Hands-on experience with ASC (Actuarial Systems Corporation) or equivalent compliance testing software
- Proven ability to leverage technology, automation tools, and system-driven processes to manage large volumes of compliance and reporting work accurately and efficiently
- Strong understanding of ERISA regulations, IRS nondiscrimination testing requirements, and qualified retirement plan design principles
- Proficiency in Microsoft Excel, Word, and PowerPoint
- Strong analytical, problem-solving, and multitasking skills with the ability to work independently
- Excellent written and verbal communication skills with the ability to interact effectively with senior leadership
- Industry certifications such as ASPPA, NIPA, SPARK, CEBS, ERPA, QKA, or QPA
- Experience consulting on complex plan design issues and regulatory compliance matters
- Experience implementing process improvements, automation, and operational efficiency initiatives
- Experience working with multiple recordkeeping platforms and large-scale retirement plan administration operations
- Demonstrated ability to train, mentor, and develop compliance professionals
Benefits
- Health, dental, vision and life insurance plans
- 401(k) Savings plan – with generous company matching contributions (up to 6%)
- Voya Retirement Plan – employer paid cash balance retirement plan (4%)
- Tuition reimbursement up to $5,250/year
- Paid time off – including 20 days paid time off, nine paid company holidays and a flexible Diversity Celebration Day.
- Paid volunteer time — 40 hours per calendar year
Company Overview
Company H1B Sponsorship