We are seeking a highly skilled and motivated defined benefit pension enthusiast to join our team. The role requires an organized and detail-oriented professional with exceptional analytical skills and a proactive mindset. The candidate should possess extensive knowledge of pension benefits and governmental/legislative regulations (ERISA, DOL, and IRS Regulations) and demonstrate the ability to multi-task and prioritize effectively. Experience with defined benefit pension administration is strongly preferred, including in depth experience with pension benefit calculations. A pension actuarial background is also preferred.
Key Responsibilities include:
Assist Retirement Director: Provide support to the Retirement Director in various complex tasks and projects as needed, contributing to the overall success of the retirement team.Monitor Pension Operations: Ensure the operational accuracy and compliance of Nationwide’s qualified and non-qualified defined benefit pension plans and retiree medical programs. Oversee and monitor operational policies, procedures and standards to maintain high-quality administration.Analyze Data: Perform and validate complex defined benefit pension calculations using Microsoft Excel, ensuring accuracy and compliance with plan provisions. Utilize knowledge of various employee pension programs and operational knowledge of actuarial principles.Plan Document Review: Collaborate closely with legal partners to update/review plan documents, summary plan descriptions and amendments, ensuring all documentation is current and compliant.Presentation Development: Assist the Retirement Director with the preparation of presentations for settlor/fiduciary meetings. Address Inquiries: Work collaboratively with internal teams and vendors to resolve pension and retirement-related inquiries, providing clear and accurate information.This Columbus based hybrid role is compensation grade G3.
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Job Description Summary
Our work supports healthier, more secure and productive lives, allowing associates and retirees focus on their work or on enjoying their retirement. As is true throughout Nationwide, outstanding customer service is our standard. If you value being able to help people when they most need it, by providing and communicating a competitive benefits program for a diverse, engaged workforce, we want to know more about you!As a Consultant, you'll lead the design, development and implementation of benefit plans, policies and programs, both qualified and non-qualified. In addition, you'll handle significant project implementations related to comprehensive benefit plan and delivery changes. You'll have day-to-day responsibility for the oversight of and working relationship with multiple vendor partnerships. In addition, there will be opportunities to provide strategic consultation to management about changes or innovative ways to address benefits and human resource issues.
Job Description
Key Responsibilities:
Researches, benchmarks, analyzes, and develops modifications to benefit programs to meet identified objectives and needs for the organization, to maintain benefit plan competitiveness and to align with legislative requirements. Areas of research include: accident and health insurance, retirement and pension plans, income continuance, holidays and vacation, tax-qualified, non-qualified/executive, welfare, payroll-based, and others programs as legislated or developed.
Participates in the management of all vendors and suppliers of benefit related services, including negotiating contracts, performance measuring and monitoring and implementing administrative processes.
Oversight of a team of vendor managers handling day-to-day relationships with benefit plan vendors, process improvements and resolution of critical issues and programs that impact associates, retirees and their dependents.
Designs and develops tools, models, programs and procedures to align to a total rewards strategy; and one that will assess and reduce costs and improve the delivery of benefits.
Implements a wide range of benefit plans, programs and practices. Develops recommendations for new and/or improved associate benefits and cost-savings measures to management. Leads in developing and coordinating communications to ensure timely and accurate communications of benefit changes.
Provides information to all levels of management about various benefit plans to assist them in plan oversight. Prepares a financial overview of all administrative and claim spend, vendor’s terms and conditions, service level monitoring, issue trending/resolution, etc. Focuses these efforts on benchmarking, continual service improvements and expense reduction.
Serves as the expert in the critical issue process for the benefit plan designs and administrative interpretation. Interprets plan provisions, identifies gaps and other issues in plan documents and anticipates future issues in administration/processing.
Represents the Benefits Planning functions on task forces and committees as assigned. Facilitates and leads a cross functional team in the design, documentation and implementation of complex benefit plans and programs.
Maintains awareness of and analyzes the general conditions and trends of associate benefit plans and related legislation/programs/practices, both within and outside of the financial services/insurance industry.
May perform other responsibilities as assigned.
Reporting Relationships: Reports to Director within Benefits. Typically, this is an individual contributor role; may have opportunity to lead a minimal number of associates to support the work.
Typical Skills and Experiences:
Education: Undergraduate studies in business administration, economics, finance or human resources preferred. Graduate studies a plus.
License/Certification/Designation: Designation or progress towards related certifications (Certified Employee Benefits Specialist (CEBS), Certified Benefits Professional (CBP), or Fellow, Life Management Institute (FLMI)) desirable.
Experience: Typically, eight or more years of related experience in benefits strategy and design. Vendor management experience and experience in administrative, planning, financial and project management functions strongly desired.
Knowledge: Proven knowledge of strategy work, Employee Retirement Income Security Act (ERISA), project management concepts, vendor management, performance management as well as team development. Demonstrated knowledge of benefits theory, regulations and practices. Able to conceptualize a business problem, define relevant issues, facilitate the determination of a methodology for resolving the problem, define alternatives and develop recommendations and solutions.
Skills/Competencies: Well-developed verbal and written communication skills for interaction with all levels of associates including top management, external management and third-party providers. Able to act as a facilitator for project teams or work groups. Demonstrated project management and process improvement skills and strong negotiation skills.
Other criteria, including leadership skills, competencies and experiences may take precedence.
Staffing exceptions to the above must be approved by the AVP, Benefits Planning and HR Business Partner.
Values: Regularly and consistently demonstrates the Nationwide Values.
Job Conditions:
Overtime Eligibility: Not Eligible (Exempt)
Working Conditions: Normal office environment. Occasional travel. Non-standard or extended hours based on work or project needs.
ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people in the job to perform a somewhat different combination of duties.
Benefits
We have an array of benefits to fit your needs, including: medical/dental/vision, life insurance, short and long term disability coverage, paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date, nine paid holidays, 8 hours of Lifetime paid time off, 8 hours of Unity Day paid time off, 401(k) with company match, company-paid pension plan, business casual attire, and more. To learn more about the benefits we offer, click here.
Nationwide is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive culture where everyone feels challenged, appreciated, respected and engaged. Nationwide prohibits discrimination and harassment and affords equal employment opportunities to employees and applicants without regard to any characteristic (or classification) protected by applicable law.
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