Senior Specialist, Plan Design

As a Senior Specialist, Plan Design at Vestwell, your primary responsibilities will revolve around plan design consultations, managing transitions for incoming plans, drafting essential plan documents, and providing ongoing support to both the Sales and Plan Design teams. You'll collaborate with plan sponsors to create effective defined contribution plans and analyze various design scenarios to support decision-making.

To excel as a Senior Specialist, Plan Design at Vestwell, candidates should have over 8 years of experience in defined contribution plan servicing, specifically in areas like compliance and plan document management. A thorough understanding of ERISA, DOL, and IRS regulations is crucial, along with strong Excel and Microsoft Office skills. Additional certifications, like a Qualified 401(k) Administrator (QKA) credential, are advantageous.

Vestwell is a growth-centric company that provides various opportunities for professional development. As a Senior Specialist, Plan Design, you’ll work closely with experienced team members, participate in cross-functional discussions, and contribute to product innovations. We also encourage continuous learning and skill enhancement through workshops and training sessions tailored to your interests and career goals.

Working as a Senior Specialist, Plan Design at Vestwell means being part of a collaborative and innovative hybrid work environment. We value the health and well-being of our team members, and offer flexibility in the workplace, allowing you to balance in-office and remote work effectively while enjoying a bright and comfortable office setting when you choose to come in.

At Vestwell, we provide a competitive comprehensive benefits package for the Senior Specialist, Plan Design role, which includes health coverage, generous vacation policies, participation in our Company Bonus Pool, and the potential for new hire equity. We also focus on employee well-being with initiatives aimed at fostering a supportive work culture.

To effectively answer this, outline your specific experiences with defined contribution plans, emphasizing your roles in design, compliance, and document management. Detailing specific scenarios where you've implemented plan changes or managed transitions will demonstrate your hands-on knowledge and problem-solving skills in the field.

When responding, highlight your collaborative approach by discussing how you gather client requirements, analyze their needs, and create tailored solutions. Mention any tools or methodologies you use to facilitate discussions and ensure clients feel informed and confident in their plan choices.

Discuss the structured process you undertake for drafting plan documents, emphasizing your attention to detail and understanding of regulatory compliance. Mention how you leverage platform capabilities and collaborate with stakeholders to ensure documents encapsulate client specifications accurately.

Provide examples of how you prioritize tasks based on urgency and impact, and underscore the tools or strategies you use to stay organized. Sharing specific instances where you've successfully managed multiple projects will showcase your ability to thrive in a dynamic setting.

When addressing this, cite fundamental aspects like clear communication, stakeholder engagement, defining project goals, and regular progress tracking. Illustrating this with past experiences where your project management skills led to successful outcomes will strengthen your answer.

Discuss the resources you utilize, such as industry journals, webinars, and professional networks, to remain informed about changes in ERISA and IRS regulations. Mention how you integrate this knowledge into your plan design practices to ensure compliance.

Illustrate this by sharing a specific project where you identified areas of improvement in a plan design process, implemented changes, and then evaluated the positive outcomes. Emphasizing your analytical skills and proactive approach will reflect your effectiveness in this area.

Describe the various software and tools you have experience with, such as plan document drafting systems or non-discrimination testing systems. Highlight your proficiency in these tools and how they enhance your workflow and client interactions.

Talk about your communication style in challenging scenarios, stressing the importance of empathy, transparency, and providing well-researched recommendations. Providing an example will reinforce your approach to client relationships during tough discussions.

Share your passion for improving individuals' financial futures and your belief in the role of technology in enhancing retirement planning. Personal stories or experiences that solidify your motivation will help convey your sincerity and dedication to the field.