Deputy Director, Compliance

Job Title: Deputy Director, Compliance

Department: Compliance

Reports To: Director of Compliance

FLSA Status: Exempt

About Us:

Building Services 32BJ Benefit Funds ("the Funds") is the umbrella organization responsible for administering Health, Pension, Retirement Savings, Training, and Legal Services benefits to over 100,000 SEIU 32BJ members. Our mission is to make significant contributions to the lives of our members by providing high quality benefits and services. Through our commitment, we embody five core values: Flexibility, Initiative, Respect, Sustainability, and Teamwork (FIRST). By following our core values, employees are open to different and new ways of doing things, take active steps to improve the organization, create an environment of trust and respect, approach their work with the intent of a positive outcome, and work collaboratively with colleagues.

The Funds oversees and manages $9 billion dollars in assets, which are made up of many, varied and complex funds. The dollars come from a number of sources, including the property owners who pay into the funds on behalf of their employees, and as such, requires those who oversee and manage the money to be highly skilled financial management people.

For 2023 and beyond, 32BJ Benefit Funds will continue to drive innovation, equity, and technology insights to further help the lives of our hard-working members and their families. We use cutting edge technology such as: M365, Dynamics 365 CRM, Dynamics 365 F&O, Azure, AWS, SQL, Snowflake, QlikView, and more.

Please take a moment to watch our video to learn more about our culture and contributions to our members: youtu.be/hYNdMGLn19A

Overview of Role:

The Deputy Compliance Director is responsible for supporting the Compliance Director in all aspects of the Fund Office's compliance with financial and reporting regulations pertaining to the administration of its retirement, health and welfare employee benefit funds and other (i.e., legal, training) funds. This responsibility includes assisting with planning, directing, developing, and implementing policies, programs, standards, and procedures to ensure compliance with all relevant local, state, and federal governmental regulations and requirements. The Deputy Director remains informed of all plan provisions, current in knowledge about the legal and regulatory environment governing employee benefit plans and is widely recognized by colleagues and other professionals for technical competence and advisory skills. Integral to the role is the ability to interpret and operationalize relevant laws and regulations with an eye towards operational efficiency.

Principal Duties and Responsibilities:

Key responsibilities include but may not be limited to:

• Maintaining, updating the Compliance Calendar and monitoring organization-wide compliance with key deadlines.
• Management of Compliance staff.
• Communicating with union officials, employers, members, professional advisors (e.g., auditors, attorneys, actuaries, investment managers, investment performance advisors, custodians, third party administrators, insurance carriers, computer system representatives, etc.) and governmental agencies on compliance requirements.
• Establishing and maintaining written compliance-related policies and procedures and leveraging innovative technology to implement such policies and procedures.
• Working closely with outside counsel to facilitate the resolution of issues and to develop guidance on relevant laws and regulations.
• Participating in workplace committees and meetings and reporting back to the Compliance Director regarding key issues and developments.
• Monitoring day-to-day operations of the retirement and health and welfare plans' processes.
• Overseeing the performance of vendors and service providers responsible for the administration of the retirement and health and welfare plans, and other funds (i.e., legal, training).
• Monitoring compliance of plan documents with regulatory and legal requirements through the use (and installation of, if needed) internal control systems. Assisting with drafting and reviewing of Summary Plan Descriptions, Summary of Material Modification, and other compliance documents.
• Conducting periodic audits of the Fund's policies, procedures and operations to identify transactional and systemic problems and, as needed, developing and implementing training and process improvements to bring about compliance.
• Tracking laws and regulations and maintaining contact with external industry contacts and professional organizations as a means of keeping current on regulatory events, trends and other related situations that could affect the Fund's benefit plans and operations.
• Overseeing the Funds' Vendor Risk Management program and working with outside vendors to achieve risk management goals.
• Reviewing vendor contracts for vendors supporting the retirement and health and welfare plans, and other funds (i.e., legal, training).

Qualifications and Experience:

• Law degree required, Juris Doctor (JD), Master of Laws (LLM) or equivalent degree
• Active membership in good standing with the Bar in New York State, or other applicable jurisdictions.
• Minimum of 5-8 years of employee benefits related regulatory and/or compliance experience - including accountability for leading or providing significant leadership-oriented support to a relevant function/unit to include direct involvement with executive-level decision making.
• Deep understanding of ERISA and its regulatory frameworks, Department of Labor regulations, Internal Revenue Code, and privacy laws and regulations (e.g., HIPAA, HITECH, NIST standards, etc.).
• Contract and negotiation experience for employee benefit services such as retirement plans, healthcare products and services.
• Creating and maintaining a compliance program for pension plans and health and welfare plans.
• Excellent communication skills (oral/written) with ability to relate to and influence diverse audiences.
• Demonstrated record of accomplishment in identifying quality and operational improvement needs and, developing solutions and implementing action and/or change in response.
• Conducting internal and vendor cybersecurity reviews preferred
• Prior experience with DOL and other regulatory body audits preferred.
• Prior experience with Taft-Hartley plan compliance preferred.

Core Competencies

• Technical Competence:
  - Depth and breadth of knowledge in relevant concepts, applications, services,
  processes, and products.
  - Analytical ability and approach to identifying and diagnosing problems and their
  solutions.
  - Proficiency in relevant computer applications and software.
  - Project management skills to include planning, budgeting, controlling quality
  assurance and delivery.
  - Orientation to consistently achieving high quality outcomes.
• Achiever Orientation:
  - Determining what needs to be done, following through to completion, anticipating
  and going beyond what is expected.
  - Knowing self-limits and consistently working to improve own efficiency.
  - Establishing high standards of professionalism, setting and achieving professional
  and personal goals, owning responsibility for self-development and the
  development of others.
  - Persistency in achieving desired results, holding self and others accountable.

• Business Acumen:
  - Awareness of external best practices and trends in specialty area and working to
  import relevant new concepts and approaches.
  - Awareness of one's function and its impact on the operating efficiency and
  profitability of the organization.
  - Analyzing the consequences of decisions and actions before acting and exercising
  good judgment in determining when and how much risk should be taken.
  - Demonstrating a clear commitment to the organization's well-being, acting as a
  positive role model for others, taking and encouraging action to grow an
  organization's business and/or its effectiveness.
• Organizational Awareness:
  - Understanding and effectively operating within the culture, climate, and politics of
  an organization.
  - Identifying who the real decision makers are and the individuals who can influence
  them.
  - Recognizing unspoken organizational limitations and, what is/is not possible at
  certain times and in certain circumstances.
  - Predicting how new and/or external events and situations will affect individuals and
  groups within an organization.
• Change Management Leadership:
  - Ensuring that the right people and/or processes are in place to produce excellent
  business results.
  - Defining and/or raising the bar on performance levels of individuals and/or groups.
  - Defining and articulating a plan or clear set of objectives in a compelling manner
  that fosters a consistent understanding across diverse groups.