Director, Benefits of Retirement and Benefits

Independence Blue Cross

1mo ago

Job
Full-time
Expert Level
People, HR & Administration
Healthcare
Philadelphia

AI generated summary

You must have a Bachelor's in HR or related field, 10+ years in benefits (focus on retirement), knowledge of ERISA/ACA regulations, strong analytical skills, and vendor management experience.
You will oversee benefits design, compliance, and administration, manage vendor relationships, lead a team, and strategize wellness initiatives to enhance associate well-being and organizational objectives.

Requirements

Bachelor’s degree in Human Resources, Business Administration, Finance, or a related field; Master’s degree or professional certifications (e.g., CEBS, SPHR, CRPS, or CFP) preferred but not required
10+ years of experience in benefits administration, with a strong focus on retirement plans – especially defined benefit pension plans
In-depth knowledge of ERISA, ACA, FMLA, HIPAA, COBRA as well as IRS and DOL regulations governing retirement and health plans
Proven ability to develop and execute strategic benefits programs that balance organizational goals and employee needs
Exceptional analytical, problem-solving, and project management skills
Strong interpersonal and communication skills with the ability to influence and collaborate across all levels of an organization
Experience managing vendor relationships and negotiating contracts to ensure optimal service and cost efficiency
Must have an Android or iOS device which is compatible with the free Microsoft Authenticator app

Responsibilities

Direct and oversee a team of 10 HR professionals having accountability for:
Overall design, implementation, communication, and administration of the organization's health and welfare benefits programs, COBRA, Disability, ADA, FMLA, Workers Compensation, Ancillary benefits and executive benefits and programs in compliance with federal and state regulations and in support of organizational objectives
The administration of the Qualified and Non-Qualified 401(k) retirement plans, the defined benefit pension plans, including all regulatory and compliance related tasks associated with these plans and their administration
The overall design, implementation, communication, and administration of the organization’s retiree and board benefit plans serving ~500 individuals in support of the organization’s strategic objectives ensuring all regulatory and compliance obligations are met.
The overall design, implementation, communication, and administration of the organization's strategic associate wellness program to drive effectiveness, cost containment, and address overall associate wellbeing, chronic conditions, and gaps in care intended to improve behaviors, create a culture of wellness, and reduce overall health care costs
The overall design, contract negotiations, implementation, communication, and administration University Partnership education programs to develop, grow, expand, and maintain both the undergraduate and graduate programs offered to our associates through multiple universities and colleges.
Directs and oversees the administration of all Qualified Domestic Relation Orders in accordance with our qualified and non-qualified plans for both the defined benefit pension and 401(k) plans
Fiduciary accountability for all monthly benefits billing and bi-weekly STD payroll and tuition reimbursement
Plan Administrator for the Independence Blue Cross Health and Welfare plan – active and retiree
Designs strategic wellness programs and rewards to align with strategic objectives and educate and motivate population to adapt and maintain a well-rounded healthy lifestyle and improve the overall health of associates and their families
Develops strategies to manage and mitigate risk related to STD/FMLA utilization
Subject matter expert for all benefits of new company partnerships and benefit plan design customization where appropriate to meet subsidiary needs
Directs and oversees the Health and Welfare Benefits Appeals Committee
Directs and oversees all benefit related vendor management, contract negotiation, renewals, and service level agreements
Directs team responsible for ensuring compliance with Federal regulations, including, but not limited to, Employee Retirement Income Security Act (ERISA), and proper and timely administration of the Consolidated Omnibus Budget Reconciliation Act (COBRA), the Health Insurance Portability and Accountability Act (HIPAA), Affordable Care Act (ACA), IRS regulations, and Department of Labor (DOL) as well as non-discrimination testing and federal filings
Develops annual action plans to mitigate risk and lower medical utilization designing and implementing strategic alternatives that promote wellness and healthy lifestyle behaviors
Directs and oversees the vendor management, administration, and regulatory/compliance requirements of Qualified and Non-Qualified pension with assets in excess of $600 million and 401(k) plans with assets in excess of $500 million
Responsibility for the onsite fitness center, its programs, and its staff of 6 to promote healthy lifestyles and physical activity to the associates of Independence Blue Cross
Monitor best practices and market trends related to wellness, benchmarking and identifying opportunities to improve strategy and design and enhance programs and initiatives in place to achieve optimal behaviors to promote a healthy lifestyle and desired business results
Directs and oversees the implementation of benefit policies and practices to drive a self-service culture where appropriate ensuring compliance and regulatory requirements are met
Continuously monitor, evaluate, and analyze the effectiveness of current benefit programs and develops strategy to enhance and improve their impact in the best interest of the organization as well as the associate experience
Directs and oversees annual benchmarking studies to identify lower/alternative health and welfare options and participates and leverages industry surveys to prepare recommendations to the Pension Committee for approval to implement
Directs and monitors benefit programs budget; partners with IBX’s Sales division/external administrators in researching, analyzing, evaluating, designing and administering benefits plans and programs
Directs and oversees analysis and reporting related to Health and Welfare benefits and utilization
Directs and oversees the implementation of appropriate measurements and metrics of benefit plan design to develop a culture of continuous improvement
Directs staff/associates on interpretation of plan design; oversight of the implementation of seminars and other benefit informational meetings for employee and retiree populations
Coach a team of 10 professionals and actively facilitate their development
Partners with HR Leadership and Executive team in setting the benefit plan design, strategy, and direction for all Health and Welfare and Retirement benefits
Partners with senior leaders throughout the organization to develop and define strategies to address external support of educational needs through certificate programs with local universities to achieve optimal business results
Other related duties and projects as assigned

FAQs

Do we support remote work?

Yes, we do remote work but in a hybrid format, where associates can work in the office three days a week and remotely for two days.

What are the primary responsibilities of the Director of Retirement and Benefits?

The primary responsibilities include overseeing the design, implementation, and management of retirement and benefits programs, ensuring compliance with regulations, and driving employee engagement and wellness initiatives.

What qualifications are required for this position?

A Bachelor's degree in Human Resources, Business Administration, Finance, or a related field is required, with a Master's degree or professional certifications preferred. Additionally, 10+ years of experience in benefits administration is required.

What experience is necessary for this role?

Candidates must have extensive experience in benefits administration, particularly with retirement plans, defined benefit pension plans, and strong knowledge of relevant regulations such as ERISA, ACA, and FMLA.

How large is the team that the Director will oversee?

The Director will oversee a team of 10 HR professionals.

What benefits programs will the Director manage?

The Director will manage health and welfare benefits programs, retirement plans, wellness programs, and executive benefits among others.

Is knowledge of vendor management important for this role?

Yes, experience in managing vendor relationships and negotiating contracts is crucial to ensure optimal service and cost efficiency.

Will the Director need to analyze data related to benefits programs?

Yes, the Director will be responsible for continuously monitoring and analyzing the effectiveness of current benefit programs and developing strategies for improvement.

Are there opportunities for professional development in this job?

Yes, the position involves coaching team members and facilitating their development, as well as collaborating with senior leaders on educational needs through local universities.

What kind of organizational culture does the role aim to promote?

The role aims to create a culture of wellness, employee engagement, and continuous improvement to enhance the overall health and well-being of associates and their families.

Independence Blue Cross

Finance

Industry

5001-10,000

Employees

1938

Founded Year

Mission & Purpose

Independence Blue Cross is the leading health insurance organization in southeastern Pennsylvania. For 85 years, we have been enhancing the health and well-being of the people and communities we serve. We deliver innovative and competitively priced health care products and services; pioneer new ways to reward doctors, hospitals, and other health care professionals for coordinated, quality care; and support programs and events that promote wellness.