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Salary: USD 160,000 - 180,000 / annual
Vestwell is a fintech platform powering the savings economy, enabling over 790,000 businesses and 2.75 million active savers with $57 billion in assets across retirement, education, and healthcare savings products. The company operates a trust company and custodial platform serving financial advisers, employers, third-party administrators, financial institutions, payroll providers, and government agencies.
You will lead the regulatory operations function with strategic oversight of the trust company, custodial, and trading operations. Your responsibilities include:
• Lead regulatory operations focused on qualified retirement plans (401(k), IRAs, Emergency Savings Accounts) and ensure compliance with ERISA, Internal Revenue Code, DOL, IRS, trust company regulations, and SEC requirements.
• Create and implement procedures and internal controls for all trading activities within custodial operations, proactively monitoring teams and systems for regulatory compliance.
• Oversee and enhance controls related to trust and custody operations and state savings programs, ensuring alignment with fiduciary standards and regulatory expectations.
• Provide regular reporting to internal stakeholders and the Risk Committee on material risks, incidents, and effectiveness of risk mitigation strategies.
• Partner with legal, compliance, product, and operations teams to interpret new and existing regulations and apply them to business practices.
• Monitor regulatory developments and proactively advise senior leadership on potential business impacts and required changes.
• Lead the Legal Team in managing the Vestwell Trust Company SOC 1 audit and New Hampshire Banking Department regulatory exam.
• Liaise with external auditors, regulatory agencies, and third-party service providers during examinations, audits, and inquiries.
• Oversee regulatory reporting and filings (e.g., Form 5500, IRS/DOL disclosures).
• Manage a team of regulatory operations professionals, providing leadership, coaching, and performance oversight.
• Drive continuous improvement and automation of regulatory and compliance processes and controls.
The role is based in the New York City office with a hybrid work model, offering flexibility while maintaining access to collaborative offices in Midtown Manhattan, Austin, King of Prussia, and Scottsdale.
REQUIREMENTS:
Must-Have:
• Bachelor's degree in Business, Finance, or related field
• Minimum 10+ years of experience in regulatory compliance or operations in retirement, trust, or custodial services industry
• Deep knowledge of ERISA, 401(k) regulations, trust company laws, custody services, and applicable IRS/DOL regulations
• Experience managing operational risk, compliance audits, and regulatory examinations
• Strong leadership and team management skills with ability to influence and collaborate across functions
• Exceptional organizational, analytical, and communication skills
Preferred:
• Advanced degree or professional certification (JD, CPA, CRSP, QKA, CISP)
• Experience working with recordkeeping platforms, trust accounting systems, or custodial platforms
• Start-up experience
