Manager, Benefits - 401(k) Administration

Overview Manager, Benefits – 401(k) Administration The Manager, Benefits 401(k) Administration leads the day‑to‑day administration, compliance, and vendor oversight for Capital One’s retirement programs, focusing on the Associate Savings Plan (ASP). The role requires strong analytical skills, deep ERISA and IRS knowledge, meticulous attention to detail, and a proven track record managing complex retirement plan operations. Key Responsibilities & Functions Maintain clear documentation to ensure accurate, legally compliant 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 and 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 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 new plan designs, amendments, dynamic merger mappings, or legislative mandates (e.g., Secure2.0 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. Use AI tools to drive efficiencies in reporting and monitoring of the plan and mentor, guide, and build technical capabilities of junior team members. Core Qualifications 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 ERISA, IRS Code Sections 401(a), 401(k), 402(g), 409(a), and newer legislation like the SECURE Act2.0. At least 4 years of experience with data management and reporting. Strong written, verbal, and interpersonal communication skills. Ability to build consensus, influence, and collaborate. Ability to tell a story with data. Detail‑oriented strategic thinker with analytical problem‑solving capabilities. Experienced leading complex projects focused on execution and navigating ambiguity. Advanced data analysis skills with the ability to turn raw administrative metrics into organized, polished reporting tables and actionable insights. Preferred Qualifications 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. Equal Opportunity CapitalOne is an equal opportunity employer (EOE, including disability/vet) committed to non‑discrimination in compliance with applicable federal, state, and local laws. CapitalOne promotes a drug‑free workplace. #J-18808-Ljbffr