This position will oversee the planning, design, implementation, communication and administration of all health, welfare and retirement benefits, and peripheral plans on an enterprise-wide basis.
The Senior Director of Benefits is accountable for leading the planning, design, implementation, communication and administration of all health, welfare and retirement benefits, and peripheral plans in support of the company’s business strategy. He/she is responsible for plan compliance and regulatory reporting; managing all related benefits systems and interfaces; and overseeing the development and delivery of all benefits.This role is a key member of the Human Resources team, serving as a critically important and strategic position.
FUNCTIONAL EXPECTATIONS & REQUIREMENTS:
Establish annual priorities and overall strategic direction, ensuring that all benefit programs, support and reinforce the company’s annual and long-term strategic objectives. Plan and direct the implementation of new, improved and cost effective benefit plans. Analyze current and developing legislation, healthcare regulations and other environmental factors impacting plan performance and program competitiveness.
Partner closely with various internal stakeholders to ensure the company’s benefits plans, programs and initiatives are competitive, affordable and deliverable and consistent with the company’s strategic direction and employment proposition.
Ensure that benefit plans are administered in compliance with federal and state laws and regulations. Ensure that all plan filings (such as Form 5500) and audits are performed to maintain plan qualification and compliance of including but not limited to ERISA, DOL, and Internal Revenue Code. Maintain, review and adjust as needed an audit process and work closely with Legal to develop required notices, plan amendments, plan documents, eligibility appeal response and other required documentation.
Conduct annual evaluations of coverage and policies to assess cost effectiveness, competitiveness and to analyze trends. Lead financial, strategic and statistical analysis involved in designing, developing and managing benefit programs. Analyze cost drivers and utilization statistics to make recommendations for plan design changes.
Develop accurate budgets. Regularly monitor, research, and communicate budget variances. Integrate budget management and claims experience into plan design and service model to control cost growth. Work continually with external partners to develop business appropriate strategies and optimize spend.
Manage relationships with outsourced service providers, brokers and carriers, including monitoring of cost, service levels, processes, and accuracy of data. Lead negotiations and renewals with providers including governance, contract compliance, issues management, communications frequency, schedule and approach.
Oversee the effective communication of the company’s employee benefits plans and programs, changes, to optimize impact and understanding. Work closely with organization to develop a strong value proposition and brand and clear and concise communication materials.
Lead, develop and motivate a team of benefits professionals in accomplishing goals associated with the benefits function and its objectives.
A competitive compensation program will be tailored to the selected candidate. Base salary will be supplemented by a performance bonus and comprehensive, well-rounded benefits program, which includes relocation assistance.
A minimum of ten years of benefits administration, with at least five to seven years of plan strategy and plan design experience is required.At least five years’ experience managing a benefits team in a fortune 500 company is strongly preferred.
Experience with all pertinent federal and state regulations, filing and compliance requirements both adopted and pending affecting compensation and employee benefit programs, including ERISA, COBRA, FMLA, ADA, and DOL requirements.
Background dealing with multiple vendors, including vendor management and negotiations is essential.Experience with mergers and acquisitions.
Strong communicator and partner with all levels of a large, sophisticated company, including the Chief Executive Officer.Must collaborate internally across business units, in addition to maintaining an external focus on best practices, regulatory requirements and the competitive environment.
Professional and Personal Attributes
A high-energy individual with a strong work ethic and high expectations for performance.A person who leads by example, and sets strong professional and personal standards for every activity.
Sound business acumen and judgment and the sophistication and maturity to contribute to a best in class “people function.”
A solid strategic thinker, with strong operational focus, good judgment and detail-oriented perspective.
A well organized, decisive and self-directed individual with a strong ability to develop an organizational culture that fosters teamwork.
Excellent work organization skills, ability to appropriately set priorities, and manage multiple demands.
The ability to communicate effectively with diverse groups and to deliver high quality written and verbal presentations.Excellent oral and written presentation skills, as well as strong PC skills.
Must listen actively and accurately, encourage input from others.Must coach and correct constructively to improve the performance of team members.
Excellent at team building and motivating people.Skilled at accomplishing goals through others.Proficient at being a teacher, mentor and coach.
Ability to earn the trust of co-workers, maintain confidences, and put the organization’s interest above one’s self.
An individual of highest personal and professional integrity, principle and knowledge, earning respect and support when making difficult decisions and choices.Able to establish immediate credibility with peers, senior leadership, and other key stakeholders.
A Bachelor’s degree in Human Resources Management, Business or related field is required, and Master’s degree is preferred. Certified Employee Benefits Specialist designation is also preferred.