Head of Benefits

Description

As the Senior Vice President of Employee Benefits, you will lead the strategic design, implementation, and management of comprehensive employee benefits programs. In this important role, you are responsible for ensuring the company's benefits offerings are competitive, cost-effective, and aligned with organizational goals. The SVP will oversee plan design, pension, 401(k), medical, dental, wellness programs, and communications initiatives to enhance employee satisfaction and retention. Are you ready to elevate this role to the next level? If you are ready for a dynamic position, we’d love to consider you!

Key Responsibilities:

1. Plan Design:
   • Develop and implement innovative benefits plans that meet the diverse needs of employees.
   • Evaluate and optimize existing benefits programs to ensure they remain competitive and cost-effective.
   • Collaborate with external vendors and consultants to design and manage benefits plans.
2. Pension:
   • Oversee the administration of pension plans, ensuring compliance with regulatory requirements.
   • Monitor pension plan performance and make recommendations for improvements.
   • Provide strategic direction for pension plan funding and investment strategies.

• Work closely with Plan Actuaries and Finance Department

1. 401(k):
   • Manage the company's 401(k) plan, including plan design, administration, and compliance.
   • Educate employees on 401(k) options and benefits, promoting participation and engagement.
   • Work with financial advisors to optimize plan performance and investment options.
2. Medical:
   • Lead the design and administration of medical benefits, including health insurance plans.
   • Ensure medical benefits are competitive and meet the needs of employees and their families.
   • Monitor industry trends and make recommendations for plan enhancements.
3. Wellness Programs:
   • Develop and implement wellness programs that promote physical, mental, financial and emotional well-being.
   • Collaborate with internal and external partners to offer wellness initiatives and resources.
   • Measure the effectiveness of wellness programs and adjust strategies as needed.
4. Communications:
   • Create and execute a comprehensive benefits communication strategy.
   • Ensure employees are well-informed about their benefits options and any changes to plans.
   • Utilize various communication channels to engage employees and promote benefits programs.
5. Managing Retirement Committee:
   • Lead the retirement committee, ensuring effective governance and oversight of retirement plans.
   • Facilitate regular meetings to review plan performance, compliance, and strategic initiatives.
   • Collaborate with committee members to make informed decisions regarding retirement plan policies and investments.

Qualifications:

• Bachelor's degree in Human Resources, Business Administration, or related field; Master's degree preferred.
• Minimum of 15 years of experience in employee benefits management, with at least 10 years in a senior leadership role.
• Strong knowledge of benefits plan design, pension, 401(k), medical, and wellness programs.
• Excellent communication, negotiation, and interpersonal skills.
• Proven ability to lead and manage a team effectively.
• Strategic thinker with a track record of driving benefits innovation and improvement.
• Vendor management expertise, including:
  • Negotiation skills: Ability to negotiate favorable terms and conditions with vendors.
  • Contract management: Experience in managing vendor contracts and ensuring compliance.
  • Supplier evaluation: Skills in assessing vendor performance and making recommendations.
  • Risk assessment: Ability to identify and mitigate risks associated with vendor relationships.
  • Relationship building: Strong interpersonal skills to maintain positive vendor relationships.
  • Project management: Experience in managing vendor-related projects from inception to completion.
  • Decision-making skills: Ability to make informed decisions regarding vendor selection and management.
• Experience working with outsourcing vendor partners.
• Regulatory compliance expertise: In-depth knowledge of relevant laws and regulations.
• ERISA knowledge: Understanding of the Employee Retirement Income Security Act (ERISA) and its application to benefits plans.
• Qualified plan audits: Experience in conducting and managing audits of qualified retirement plans to ensure compliance with applicable laws and regulations.
• Prior work experience in the financial services industry.
• Proven history of success in controlling  benefits expense.

Some job boards have started using jobseeker-reported data to estimate salary ranges for roles. If you apply and qualify for this role, a recruiter will discuss accurate pay guidance.

Equal Employment Opportunity

Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague’s or a dependent’s reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws. At Citizens, we are committed to fostering an inclusive culture that enables all colleagues to bring their best selves to work every day and everyone is expected to be treated with respect and professionalism. Employment decisions are based solely on merit, qualifications, performance and capability.