The Retirement Plans Team within Benefits Design and Planning is responsible for creating and managing innovative retirement plan options that attract, engage and retain employees to the Enterprise. Benefits Design and Planning collaborates and consults with leadership, business clients, HR Business Partners and other HR partners to identify develop and implement strategic enterprise initiatives that impact benefits and talent management strategies. The team is responsible for ensuring that the retirement plans are in compliance with ERISA and federal and state laws as well as all the accounting and financialreporting.
The Retirement Manager is responsible for delivering core benefit design & planning initiatives to all plan participants by applying professional judgment, knowledge, experience and a broad perspective. The individual will be responsible for managing all aspects of retirement plans and programs including vendor management, compliance, project management, strategic planning and design and communication. In addition, the individual will be responsible for implementing, managing and developing innovative solutions that support the business unit strategy and design by applying thought leadership and their subject matter expertise. This includes project planning, execution, timing, functionality, quality, communication, and cost. Plans and Programs may include (but are not limited to) pension, 401K, and non-qualified retirement plans.
The individual will work withinternal and external vendor resources to deliver participant services and is responsible for the following:
- Vendor Management
- Effectively manage large/complex vendors and all other vendor relationships within their work stream (e.g. trustee, investment managers, record keeper, investment advisor, BPO vendor and auditor).
- Ensure vendors are adhering to statement of work, service level agreements and contract terms including costs and out of scope fees. Take appropriate corrective action as necessary to ensure adherence to contract provisions.
- Facilitate performance review sessions, audits and the development of contract requirements and performance standards.
- Ensure proper management of all vendors within work stream, taking appropriate action when necessary.
- Preparation of Request for Proposals, participate in the scoring, develop business case for recommendations.
- Ensure all plans and programs are compliant with ERISA and all applicable federal and state laws within their work stream. Take appropriate corrective action as necessary to ensure compliance.
- Coordinate and review all filing requirements and employee notices.
- Following law changes or design change, coordinate and review all appropriate plan documents, policies and administrative procedures. Coordinate all required changes with vendors.
- Coordinate and review all appropriate communications to participant and internal business partners following law or design changes.
- Coordinate and review monthly accounting processes, external audits of the plans, completion of 5500 reports, GAAP disclosure process and SOX reporting processes and work with actuaries to develop pension plan liabilities.
- Project Management
- Manage implementation of large/complex projects, and oversight of all other projects within their work stream; implements strategic change.
- Independently determine approach to managing projects/teams.
- Develop, manage, and execute project plans, including managing project resources and budgets. See project through to completion.
- Lead and execute the development of project documents, status reports, measurements, and set performance expectations.
- Reach out, support and collaborate with other HR areas and or business units.
- Strategic Planning/Design
- Ensure internal/external understanding of the overall business unit strategy.
- Play key leadership role in design of Retirement plans that are cost effective, competitive and attracts/retains quality employees; provide leadership with various options and alternatives for further consideration.
- Ensure appropriate benchmarking of design features to evaluate competitiveness of plan design.
- Provide direction and guidance to ensure that the business strategy is considered when designing new processes, employee communications and in the daily management of employees and resources.
- Leverage quantitative, qualitative and trend data to draw conclusions and to help drive business results.
- Work with various fiduciary/board committees to monitor marketplace trends, retirement planinvestment alternatives; recommend plan design changes.
- Education: Bachelor’s Degree required/ CPA or Masters Degree a plus. Relevant HR certification a plus (i.e. CEBS)
- Experience: 7+ years of relevant work experience; specific retirement experiencepreferred
- Professional with strong organizational, communication and administrative skills
- Advanced knowledge of Retirement plans
- Advanced analytical skills
- Advanced vendor and project management skills
- Works independently with guidance in only the most complex situations
- Integrates deep subject matter expertise by having industry experience in benefits and in-depth knowledge of operational processes
- Provides influence and authoritative advice
- Advanced time management skills including ability to handle multiple projects, prioritize and organize
- Strong business writing skills
- Establish, manage and leverage relationships with internal and external partners
- Advanced accounting and finance skills with basic knowledge of actuarial terms and concepts
- Advanced knowledge of the Microsoft Suite of business software and knowledge of SAP
- Ability to recognize gaps in processes and recommend holistic solutions
- Ability to anticipate operational issues and develop preventative measures
- Creative thinking and advanced problem solving skills
- Advanced understanding of HR strategy, policy and integration points
The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.
JOB #: 114820-en_US