Principal Associate, Plan Management And Governance Compliance at capitalone

Overview

Principal Associate, Plan Management and Governance Compliance Capital One is looking for a Principal Associate to manage the compliance and governance of our US Health and Welfare plans. In this role, you’ll ensure our

Benefits

• follow all applicable laws and plan documents while keeping a "forward-looking" eye on new legislation.
• You’ll work across teams to keep our plans well-managed, protecting the company while ensuring a seamless, high-quality experience for our associates.
• What You’ll Do: Regulatory and Compliance Filings Government Filings: Preparation and timely submission of all state and federal filings related to H&W plans, including but not limited to: Form 5500, Summary Annual Reports (SAR), mental health parity, etc.
• Nondiscrimination Testing: Oversee annual Section 125 and 105(h) testing to ensure plans do not favor highly compensated employees.
• Manage process for reviewing results, obtaining approval for limit changes and execute communications as needed based on test results.
• Obtain and review SOC-1 documentation from vendors and ensure compliance with internal processes Maintain a compliance calendar and ensure that all filings are tracked and stored in the appropriate Capital One locations.
• Governance & Oversight Serve as primary liaison between

Benefits

• and HR Risk teams on any ongoing and newly scoped projects.
• Audit Management: Partner with HR Risk as the primary H&W point of contact for internal audits.
• Assist with external audits, as needed.
• Vendor Compliance: Audit Third-Party Administrators (TPAs) and carriers to ensure they are adhering to plan terms, SLAs and Performance Guarantees (PGs).
• Plan Documentation and notices: Partner with vendors and/or internal partners to structure and write all required plan documentation and notices, including, Summary of Material Modifications (SMMs), SBCs, benefit booklets, maintaining Summary Plan Descriptions (SPDs), etc.
• Participate as a voting member in the Eligibility Claims Committee to review claims for

Benefits

• .
• Serve as the designated lead for HIPAA compliance, managing Business Associate Agreements (BAAs) and leading breach response protocols per the Capital One process; ensure appropriate actions are reported, gaps are closed and communicated as appropriate.
• Serve as H&W

Benefits

• SME for Gen AI reviews.
• Understand Capital One review process, take vendors through the review process, coordinate evaluations as needed.
• Offer an independent voice and challenge as needed.
• Partner with control owners and internal compliance partners on control testing.
• Ensure documentation is kept up to date and provide documentation upon request.
• Legislative Maintenance & Monitoring Serve as the subject matter expert for all laws, rules and regulations that impact US H&W and voluntary

Benefits

• including, but not limited to: ERISA, CAA, HIPAA, MHPAEA, state individual mandate reporting and San Francisco HCSO Regulatory Tracking: Partner with Legal and HR Risk to monitor emerging legislation and assess impacts to US H&W plans.
• Propose recommendations and highlight gaps that need to be addressed.
• Partner with HR technology,

Benefits

• Operations, internal HR call center and/or vendors to identify and implement changes needed to systems, training material, and call center tools to maintain compliance. Issue & Incident Management Own Capital One issue and incident risk management processes for US H&W and voluntary

Benefits

• related to policy, plan management and compliance.
• Offer an independent voice and challenge as needed.
• Bring stakeholders along on the journey while maintaining a positive, collaborative attitude.
• Enter incidents into Salesforce within 24 hours and act as liaison through incident resolution, guiding team members through the process.
• Own issues (eg HIPAA privacy violations) through resolution.
• Suggest process/experience/product improvements based on qualitative and quantitative feedback.
• Manage complex associate benefit issues by partnering with internal teams and vendors to find solutions.
• You’ll resolve the root cause of problems with a focus on empathy, ensuring a smoother and more positive experience for our associates.
• Basic Qualifications Bachelor’s Degree or military experience 3+ years of experience working with H&W employee benefit plan governance Preferred Qualifications MBA or Master’s Degree Certified Employee Benefit Specialist (CEBS) or Certified

Benefits

• Professional (CBP) designation 4 years of experience in H&W employee

Benefits

• for organizations with 10,000+ employees 5 years of experience with