Lead Recordkeeper - NonQualified Plans at Voya Financial

Phoenix, Arizona, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Financial ServicesIndustries

Requirements

3+ years of experience in retirement operations, preferably with a focus on NQ plans
Strong knowledge of check processing, ACH workflows, and tax reporting
Familiarity with plan-specific rules under IRC 409A and other regulatory frameworks
Excellent attention to detail and ability to manage multiple priorities in a fast-paced environment
Proficiency in Microsoft Excel and experience with retirement systems (e.g., Millennium, Relius Administration) is a plus
Strong communication and collaboration skills
Preferred Attributes
Experience working with both onshore and offshore teams
Ability to identify and implement process improvements
Comfortable navigating plan-specific nuances and client-specific requirements

Responsibilities

Process and reconcile check disbursements and ACH transactions for NQ plans
Support quarterly and annual tax reporting processes, including 1099 & W-2 generation and validation
Add new participants and alternate payees to the system
Maintain and update ACH & W4 forms and ensure compliance with internal controls and regulatory requirements
Collaborate with plan managers and processing teams to ensure accuracy and timeliness of money-out transactions
Monitor and resolve issues related to data discrepancies
Assist in documenting and improving procedures for plan-specific and general operations
Participate in cross-functional projects, including the expansion of money-out processing responsibilities
Provide support for audit and compliance reviews as needed
Assist with monthly reports, specialty asset/liability comparison reporting, and maintain participant statement templates through Cedar

Skills

ACH transactions

check disbursements

tax reporting

1099 generation

W-2 generation

reconciliation

participant management

financial transactions

NQ plans

Voya Financial

Provides financial services and retirement solutions

About Voya Financial

Voya Financial offers a range of financial services, including retirement plans, investment management, and insurance products, to help individuals and businesses achieve financial wellness. Their services cater to individuals seeking retirement planning, employers looking to enhance employee benefits, and institutions needing tailored investment management. Voya stands out from competitors through its commitment to inclusiveness and corporate responsibility, which helps attract clients and talent. The company's goal is to build long-term relationships with clients, ensuring they achieve financial confidence and a fulfilling life.

New York City, New YorkHeadquarters

2014Year Founded

IPOCompany Stage

Fintech, Financial ServicesIndustries

5,001-10,000Employees

Benefits

Health Savings Account (HSA)

Flexible Spending Accounts (FSA)

Rally wellness program

Employee Assistance Program (EAP) and Work Life Services

Behavioral Health Family Support Program

Livongo support for diabetes, hypertension, and weight management

AccessHope cancer support

Wellthy caregiving assistance

Back-up child care and elder care

Health Advocate

ABLE accounts

Legal insurance

Identity theft protection

Voya Foundation Matching Gift Program

Risks

Increased competition from fintech companies may erode Voya's market share.

Operational challenges in integrating OneAmerica's business could affect service quality.

Regulatory scrutiny on fees may impact Voya's pricing strategies and profitability.

Differentiation

Voya's commitment to inclusiveness and corporate responsibility sets it apart in the market.

The acquisition of OneAmerica's retirement plan business expands Voya's client base significantly.

Voya's focus on digital financial planning tools enhances client engagement and satisfaction.

Upsides

Voya's ESG commitment aligns with the growing investor focus on sustainable investing.

The financial wellness market's growth offers significant opportunities for Voya's programs.

AI integration in investment management can enhance Voya's strategies and client outcomes.

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