Sr Manager, Retirement Administration
Who We Are: We're powering a cleaner, brighter future.
Exelon is leading the energy transformation, and we're calling all problem solvers, innovators, community builders and change makers. Work with us to deliver solutions that make our diverse cities and communities stronger, healthier and more resilient.
We're powered by purpose-driven people like you who believe in being inclusive and creative, and value safety, innovation, integrity and community service. We are a Fortune 200 company, 19,000 colleagues strong serving more than 10 million customers at six energy companies -- Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco).
In our relentless pursuit of excellence, we elevate diverse voices, fresh perspectives and bold thinking. And since we know transforming the future of energy is hard work, we provide competitive compensation, incentives, excellent benefits and the opportunity to build a rewarding career.
Are you in?
Primary Purpose:
Responsible for the operation and administration of the company's pension and defined contribution benefits plans and programs, including the management of team members supporting the administration of the pension and defined contribution benefits plans and programs and the 401(k) Plan Administrator; maintains subject matter expertise in qualified and non-qualified Pension, 401(k) and Deferred Compensation Plans and all related topics.Provides governance of third-party administrators (TPAs) related to delivery of Pension, 401(k) and DCP administration. Responsible for the benefits administration representation and liaison with internal clients (HR business partners, labor, legal, benefits strategy, and compensation team members); governs relationships with external carriers/vendors to ensure a high level of customer satisfaction and assure Plan compliance and administration accuracy.
Understands the end-to-end process and creates/designs new processes. Works directly with Plan Administrator to resolve plan, policy, or ERISA issues.
Primary Duties:
- Directs the administration of the company's benefits plans and serves as subject matter expert in pension plans (qualified and non-qualified)/QDROs with overall responsibility for all operational aspects of that benefits area. Governs the 401(k) Plan administrator to assure compliant and accurate Defined Contribution plan administration. (50%)
- Governs and directs Pension TPA. Monitors plans for legal compliance and contractual performance standards. (10%)
- Evaluates and interprets plan documents, procedures, and contract related to ERISA, Internal Revenue Service and Department of Labor. (10%)
- Identifies, develops, and implements process improvements to adhere to plan compliance and enhance customer satisfaction. (10%)
- Identifies controls to ensure compliance with Sarbanes-Oxley. Designs and directs internal audits and monitors operations to ensure controls are operating as designed and all Key Financial Controls are met (10%)
- Ensures administration compliance of plan provisions, ERISA, DOL and IRS regulations. (10%)
Job Scope:
Responsible for administering plans according to Exelon plan documents and programs and identifies appropriate audit controls to ensure compliance. Independent decision-making and responsible for setting operational direction. Works with Exelon leadership, labor, legal, benefits strategy and compensation providing plan and plan administration subject matter expertise.Leads a team of two to five members to deliver results. Applies strong analytical skills
Minimum Qualifications:
- 4-year degree and a minimum of 10 years of experience in pension administration and/or Defined Contribution administration, corporate benefits, or consulting.
- Project management skills and proven ability in vendor management.
- Excellent interpersonal and skills with strong communication skills.
- Ability to work in and deliver results in a project-oriented environment.
- Communicates information to ensure it is delivered, received, understood and results in action.
- Good understanding of pension-related data: including historical data, pensionable pay data, etc.
- Makes decisions based on analysis of relevant information including problems, root cause analysis, priorities, critical issues and alternatives.
- Excel skills for analyzing and manipulating data with ability to summarize data and prepare solutions for management review; good attention to detail.
- Works with others to achieve common goals that result in more than what could be done individually.
- Applies effective management principles to maintain workflow, create change and shift paradigms as needed.
- Strong leader with ability to motivate others to work toward a shared business vision, balance priorities and report results.
- Demonstrated knowledge of applicable laws and regulations.
- Maintains knowledge on proposed regulations and impact to benefits plans and programs.
Preferred Qualifications:
Certified Employee Benefits Specialist (CEBS) Experience with Third Party Administrator vendor/vendor management
Benefits:
- Annual salary will vary based on a candidate's skills, qualifications, experience, and other factors: USD $136,800.00/Yr. - USD $205,200.00/Yr.
- 401(k) match and annual company contribution
- Medical, Dental and Vision Insurance
- Life and disability insurance
- Generous paid time off options, including vacation, sick time, floating and fixed holidays, maternity leave and bonding/primary caregiver leave or parental leave (based on position)
- Long Term Incentive Plan for eligible positions
- Wellbeing programs such as tuition reimbursement, adoption assistance and fitness reimbursement
- Referral bonus program
- And much more