What are the responsibilities and job description for the 401k Compliance Regulatory NDT Advisor position at Fidelity Investments?
Job Description
The Role
This role partners closely with internal and external stakeholders to navigate complex regulatory, testing, and plan design matters. Approximately 75% of the role is advisory and consultative, supporting internal teams and clients through regulatory issues and escalations. The remaining 25% may involve maintaining a limited testing caseload, supporting production activities (including nondiscrimination and three year cycle testing), and partnering with system and strategy teams to assess the impact of regulatory changes on testing processes.
The Expertise And Skills You Bring
The Senior Compliance Advisor role sits within Testing & Reporting Services (TRS) in Workplace Investing (WI). TRS is responsible for delivering plan year end compliance services, including Plan Year End Summary Reporting, Minimum Coverage and Nondiscrimination Testing, Form 5500 preparation, and audit support. The Compliance Advisor functions as a senior regulatory subject matter expert, providing guidance and escalation support to TRS Compliance Consultants and their associated Plan Sponsors.
Certifications
Category:
Compliance
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.
The Role
This role partners closely with internal and external stakeholders to navigate complex regulatory, testing, and plan design matters. Approximately 75% of the role is advisory and consultative, supporting internal teams and clients through regulatory issues and escalations. The remaining 25% may involve maintaining a limited testing caseload, supporting production activities (including nondiscrimination and three year cycle testing), and partnering with system and strategy teams to assess the impact of regulatory changes on testing processes.
The Expertise And Skills You Bring
- Bachelor’s Degree Required
- 5 years of Defined Contribution client service experience, including consulting with plan sponsors, leading through escalated issues, supporting sales efforts, and assisting with service implementation
- ASPPA credentials preferred (QKA, QPA)
- Deep expertise in Defined Contribution nondiscrimination testing and plan design
- Ability to review and interpret test results and quickly assess plan design implications
- Strong working knowledge of the Employee Plans Compliance Resolution System (EPCRS) and application of correction methodologies
- Capability to explain complex regulatory topics clearly and effectively to a variety of audiences
- Proven ability to collaborate with Plan Sponsors, legal counsel, advisors, and internal business partners
- Provide expert guidance on nondiscrimination testing outcomes, regulatory interpretations, and correction strategies
- Educate clients on complex testing results, including General Test, Benefits, Rights and Features Test, and Average Benefit Test
The Senior Compliance Advisor role sits within Testing & Reporting Services (TRS) in Workplace Investing (WI). TRS is responsible for delivering plan year end compliance services, including Plan Year End Summary Reporting, Minimum Coverage and Nondiscrimination Testing, Form 5500 preparation, and audit support. The Compliance Advisor functions as a senior regulatory subject matter expert, providing guidance and escalation support to TRS Compliance Consultants and their associated Plan Sponsors.
Certifications
Category:
Compliance
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.