Manager, Benefits - 401(k) Administration

Capital One•Richmond, VA

19h•Onsite

About The Position

The Manager, Benefits 401(k) Administration will lead the day-to-day administration, compliance, and vendor oversight for Capital One’s retirement programs, primarily focused on the Associate Savings Plan (ASP). This role requires a highly analytical professional with deep technical expertise in Employee Retirement Income Security Act of 1974 (ERISA) and Internal Revenue Service (IRS) regulations, exceptional attention to detail, and a proven track record of managing complex retirement plan operations. The ideal candidate will possess strong relationship-management skills to oversee critical third-party vendors, deliver data-driven reporting insights to senior leadership, and provide mentorship to junior team members.

Requirements

Bachelor's Degree or Military Experience
At least 5 years of experience in retirement plan administration
At least 4 years of experience working in recordkeeper portals
At least 4 years of experience with Employee Retirement Income Security Act (ERISA), IRS Code Sections 401(a), 401(k), 402(g), 409(a), and newer legislation like the SECURE Act 2.0.
At least 4 years of experience with data management and reporting
Strong written, verbal, and interpersonal communication skills
Has the ability to consensus build, influence and collaborate
Has the ability to story tell with data
Detail-oriented strategic thinker with analytical problem-solving capabilities
Experienced leading complex projects with a focus on execution and ability to work through ambiguity and deliver work through others
Advanced data analysis skills with the ability to turn raw administrative metrics into organized, polished reporting tables and actionable strategic insights.
Strong problem solving skills

Nice To Haves

Bachelor’s degree in Business Administration, Finance, or Human Resources
Employee Benefits Specialist Certification
Experience in a design-thinking, agile work setting and leading large-scale financial benefit transformations
Experience with 401(k) Plans (20,000+ participants) using OCIO models
Experience with Workday configuration and using AI to solve common business problems

Responsibilities

Maintain clear documentation to ensure accurate, legally compliant, and efficient day-to-day administration and reporting of the 401(k) plan by the Recordkeeper.
Serve as the internal subject matter expert to research, diagnose, and resolve complex or escalated participant and administrative issues.
Oversee the preparation of IRS Form 5500 and Form 8955-SSA.
Partner with Benefit Operations on administrative error correction processes utilizing internal company processes as well as the IRS and DOL voluntary correction programs to protect the plan’s qualified status.
Review, audit, and approve complex quarterly recordkeeping invoices.
Monitor omnibus accounts, revenue sharing, float income, and the utilization of fee offsets or service credits.
Maintain a thorough understanding of the plan's administrative architecture within the Recordkeeper's platform.
Provide clear technical direction to vendors to ensure that new plan designs, amendments, dynamic merger mappings, or legislative mandates (e.g., Secure 2.0 Roth catch-up rules) are properly programmed and executed.
Monitor and audit the timely completion, print generation, and digital distribution of required participant disclosures executed by the Recordkeeper, including 404a-5 fee disclosures, QDIA notices, and safe harbor communications.
Extract, analyze, and synthesize large datasets from the recordkeeping and HRM systems to deliver actionable management reporting on metrics such as participation rates, matching utilization, loan behavior, and hardship withdrawal trends.
Responsibly incorporate AI tools to drive efficiencies in reporting and monitoring of the Plan.
Mentors, guides, and builds technical capabilities of more junior team members.