Senior Consultant – Analyst – Benefit Operations – Retirement Plans

Senior Consultant – Analyst – Benefit Operations – Retirement Plans

Requirements

• 5-7+ years’ experience in human resources service delivery, within operational/administrative areas in a highly matrixed, shared service environment, strongly preferred.
• 5+ years of experience overseeing retirement plan administration, with a focus on 401(k) savings plans.
• Strong knowledge of ERISA, IRS regulations, DOL guidelines and other relevant compliance standards.
• Experience working with third-party administrators, recordkeepers and investment managers.
• Demonstrated deep functional knowledge of US Savings and Retirement programs, trends, best practices and recent legislative and other changes, required.
• Strong working knowledge and understanding of SOX controls as they relate to US Savings 401(k) plans operations and administration.
• Experience with system integrations, reporting requirements and specifications to maximize integration process efficiencies, strongly preferred.
• Demonstrated ability to influence stakeholders at all levels in the organization, preferably in a highly matrixed organization.
• Demonstrated analytical abilities, attention to detail and the ability to successfully manage multiple competing tasks and priorities.
• Experience coordinating large project plans using relevant tools and strong organization skills.
• Knowledge and understanding of process flows, mapping and relevant tools.
• Ability to work independently as well as collaboratively within internal and external team environments.
• Advanced/expert level MS Excel, required.
• BS, BA or graduate degree in business or equivalent experience.

Responsibilities

• Subject matter expert for all US/PR qualified and non-qualified savings and retirement plans – operations and regulatory environment.
• Accountable for the delivery of excellent customer experience and monitoring trends and issues that may impact the employee experience with the plan.
• Manages the operations and administration of the BMS US/PR Savings and Retirement Plans, including contributions, distributions, loans, withdrawals, vesting, payroll deductions, statutory and legal filings, coordinating with finance, tax, legal, internal and external auditors, and applicable vendors.
• Ensures robust controls are embedded in each process and operating as designed; supports the implementation and adherence to SOX controls and compliance, audit activities as needed, ensures compliance for all plan documents and statutory requirements related to benefits, savings and retirement plans and programs operations.
• Actively participates in the audit process and fulfils regulatory reporting requirements, including the non-discrimination testing, blackout restrictions and relevant financial reporting.
• Liaises with third party vendor partners, payroll, and other teams, to promptly resolve operational and systems issues.
• Documents and deploys processes for savings and retirement plan operations and service support, with process improvement and customer experience focus.
• Participates in the design, development, testing and implementation of websites, enrollment tools, and other content and communication.
• Responsible for development of functional requirements for savings and retirement plan integrations (files) between HR system, payroll system, benefits systems, ensuring data files are accurate.
• Operationalizes the annual BEP/savings elections, annual additional savings contributions file, etc.
• Acts as point of contact for escalation and resolution of Tier 2 queries, plan interpretation and appeals.
• Responsible for ensuring internal processes are documented and updated versions are maintained.
• Responsible for ensuring Knowledge Articles are updated and provide recommendations for content articles to resolve common questions.
• Supports communicating change and develops and delivers ongoing learning/development of functional expertise of the extended People Services teams.
• Collaborates with Benefit Operations teams in the implementation and standardization of operational changes, reports and interfaces to reduce costs and improve efficiency and client satisfaction.

Preferred Qualifications

• Experience working with: Workday, ServiceNow, ADP and vendor management.
• Certified Employee Benefits Specialist (CEBS) or equivalent Industry designation, preferred.