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Vice- President, Benefits

  • Job
    Full-time
    Senior Level
  • Government & Politics
    People, HR & Administration
  • Boston
  • Quick Apply

AI generated summary

  • You need 7+ years in US benefits, deep knowledge of retirement and health programs, strong compliance oversight, excellent analytical and project management skills, and a flexible "can do" attitude.
  • You will design benefits offerings, ensure compliance, manage vendor relationships, oversee financials, communicate plans, and lead large projects like RFPs and vendor transitions.

Requirements

  • 7+ years of experience in US benefit programs including in-depth knowledge of retirement plans (qualified and non-qualified) and health and welfare benefit programs, leave programs, as well as regulations such as ERISA, COBRA, HIPAA, SECURE Acts 1.0 and 2.0, Section 125, etc.
  • Strong risk and compliance vendor oversight
  • Highly organized, with the ability to prioritize, manage multiple tasks simultaneously and to work well under pressure and with little oversight
  • Excellent analytical and problem-solving skills and an in-depth financial analysis background
  • Strong presentation and project management skills, attention to detail, and an ability to communicate effectively throughout all levels of the organization
  • Exceptional Microsoft Office skills, with a focus on Excel and PowerPoint, and a strong technical aptitude
  • Ability to interact with all levels of employees and management, and manage confidential information in a professional manner
  • Flexible, "can do" attitude
  • Bachelor’s degree or equivalent

Responsibilities

  • Designing a benefits offering that attracts and retains employees, is compliant with local regulation and that effectively support State Street’s employee value proposition
  • HR risk governance and compliance management
  • Vendor oversight including third party risk management
  • Ensuring operational excellence alongside plan design and strategy are aligned to metrics and benchmarks and develop appropriate strategic recommendations
  • Partner with the internal Finance and Accounting teams on management of plan financials and internal budget projections, and effectively manage costs of benefit programs
  • Effectively partner with internal stakeholders (HR, Finance, Procurement, Legal, etc.)
  • Oversee plan and program communications to ensure benefits are understood and valued
  • Oversee benefit compliance and reporting requirements, including managing the preparation of any governance materials and lead presentations for governance committee meetings, as needed
  • Oversee large-scale projects, including RFPs and transitions to new vendors, as well as due diligence and integration for corporate actions (e.g., mergers & acquisitions)

FAQs

What is the primary focus of the Vice President, Benefits role?

The primary focus of the Vice President, Benefits role is to provide operational and strategic leadership, oversight, and management of the company’s benefits, leave, and retirement plans while ensuring compliance with local laws and regulations.

What qualifications are required for this position?

Candidates should have 7+ years of experience in US benefit programs, in-depth knowledge of retirement plans and health and welfare benefit programs, strong risk and compliance vendor oversight, excellent analytical and problem-solving skills, and a Bachelor’s degree or equivalent.

What types of benefits will I be managing if I take this role?

You will be managing a range of benefits including health and welfare programs, retirement plans (both qualified and non-qualified), leave programs, and wellbeing programs that encompass physical, emotional, and financial aspects.

How does this role interact with other departments?

This role requires effective partnership with internal stakeholders within Global Human Resources, Finance, Procurement, Legal, and business leaders to align benefits strategy, manage costs, and ensure compliance.

Will I be responsible for vendor oversight?

Yes, vendor oversight, including third-party risk management and leading large-scale projects such as RFPs, transitions to new vendors, and due diligence for corporate actions, is part of the responsibilities of this position.

What is the salary range for this position?

The salary range for this position is between $110,000 and $177,500 annually, depending on the candidate's qualifications and experience.

Is experience with benefits compliance regulations important for this role?

Yes, a strong understanding of compliance regulations such as ERISA, COBRA, HIPAA, and the SECURE Acts is critical for successfully managing and overseeing benefits programs.

What is expected in terms of project management skills?

The Vice President, Benefits is expected to have strong project management skills to oversee large-scale projects, ensure operational excellence, and manage multiple tasks simultaneously while adhering to timelines and budgets.

What kind of analytical skills are required?

Excellent analytical and problem-solving skills with a background in financial analysis are required to develop appropriate strategic recommendations and manage plan financials effectively.

How does this position contribute to employee engagement?

The Vice President, Benefits will lead the design, delivery, and transformation of benefits plans that enhance employee engagement, ensuring that the offerings are understood and valued by employees.

We’re at the heart of financial services. And our clients are at the heart of everything we do.

Finance
Industry
10,001+
Employees
1792
Founded Year

Mission & Purpose

At State Street, we partner with institutional investors all over the world to provide comprehensive financial services, including investment management, investment research and trading, and investment servicing. Whether you are an asset manager, asset owner, alternative asset manager, insurance company, pension fund or official institution, you can rely on us to be focused on your challenges. We are committed to doing what it takes to help you perform better — now and in the future.