Principal Associate, Plan Management and Governance Compliance

Discover Financial
Richmond, Virginia
Workplace: OnsiteFull timeUSD 109,900 - 137,900 annuallyFunction: Legal, Risk & ComplianceSkills: ["Stakeholder management","Independent judgment","Process improvement","Communication","Empathy"]

Manage compliance and governance for US Health and Welfare and voluntary benefits. Own regulatory and government filings, oversee Section 125 and 105(h) nondiscrimination testing, and maintain a compliance calendar with proper tracking and storage. Lead audits, vendor compliance, and plan documentation/notice updates. Serve as the HIPAA compliance lead, manage issue and incident risk, monitor legislation, and coordinate system/process changes to keep benefits compliant.

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Discover Financial
Discover Financial
1 day ago

Principal Associate, Plan Management and Governance Compliance

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Last checked: 11 hours agoStatus: Live

Job Summary

Manage compliance and governance for US Health and Welfare and voluntary benefits. Own regulatory and government filings, oversee Section 125 and 105(h) nondiscrimination testing, and maintain a compliance calendar with proper tracking and storage. Lead audits, vendor compliance, and plan documentation/notice updates. Serve as the HIPAA compliance lead, manage issue and incident risk, monitor legislation, and coordinate system/process changes to keep benefits compliant.
Location: Richmond, Virginia
Workplace: Onsite
Employment Type: Full time
Job Function: Legal, Risk & Compliance
Seniority: Mid level

Key Responsibilities

  • •Prepare and submit required state and federal government filings for Health and Welfare plans, including Form 5500 and Summary Annual Reports (SAR).
  • •Oversee annual Section 125 and 105(h) nondiscrimination testing, including approvals for limit changes and required communications.
  • •Serve as primary HIPAA compliance lead, manage BAAs, and lead breach response protocols following internal processes.
  • •Partner with HR Risk on internal audits and support external audits, while auditing third-party administrators (TPAs) and carriers for plan terms, SLAs, and performance guarantees.
  • •Own issue and incident risk management for US Health and Welfare and voluntary benefits, including entering incidents into Salesforce within 24 hours and guiding resolution.

Pay and Benefits

Salary: USD 109,900 - 137,900 annually

Key Requirements

  • •Ensure compliance of US Health and Welfare plans by staying current on laws, rules, and regulations affecting ERISA, CAA, HIPAA, and MHPAEA.
  • •Oversee Section 125 and 105(h) nondiscrimination testing, including review of results, limit approvals, and communications based on outcomes.
  • •Manage regulatory and government filings for health and welfare plans, including Form 5500 and Summary Annual Reports (SAR).
  • •Lead HIPAA compliance activities, including Business Associate Agreements (BAAs) and breach response protocols.
  • •Partner with HR Risk, Legal, Benefits Operations, and vendors to support audits, vendor compliance, and incident/issue resolution processes.
Experience:Health and welfare benefitsComplianceHIPAA
Skills:Stakeholder managementIndependent judgmentProcess improvementCommunicationEmpathy
Tech Stack:SalesforceSOC-1

Eligibility

Work Authorization:Authorization required. Sponsorship not provided.

Company Brief

Discover Financial
Provides consumer banking products, credit cards, personal loans, and payment services through the Discover brand. It operates a major U.S. financial network and serves individuals and merchants with lending and digital payment solutions.
Industry: Retail Banking
Company Size: Enterprise (1,001+ employees)
Revenue: USD 10M to 25M
Growth: Public Company
Valuation: Public Company (Market Cap in USD)
Funding: IPO / Publicly Listed
Headquarters: Riverwoods, United States
Founded: 1985
WebsiteLinkedIn