Associate Director - Controller, Pension and Benefit Investments, U.S. Benefit Plans

Eli Lilly and Company•Us, IN

15h•Onsite

About The Position

At Lilly, we unite caring with discovery to make life better for people around the world. We are a global healthcare leader headquartered in Indianapolis, Indiana. Our employees around the world work to discover and bring life-changing medicines to those who need them, improve the understanding and management of disease, and give back to our communities through philanthropy and volunteerism. We give our best effort to our work, and we put people first. We’re looking for people who are determined to make life better for people around the world. Overview Lilly's Benefit Plan Investment Team ('PBI') within Global Treasury provides critical fiduciary oversight, controllership, regulatory compliance, and cash management for ~$32 billion of assets residing in independent trusts that support employee pensions, savings plan accounts, and retirement health benefits. Following the transition to an Outsourced Chief Investment Officer (OCIO) model with Goldman Sachs Asset Management, the PBI team maintains responsibility for plan governance, regulatory compliance, financial reporting, and oversight of external service providers. These plans include significant assets and exposures, ~$11 billion in liabilities, and the related operations and transactions for Lilly's U.S. and Puerto Rico employee pension plans, savings plans, retirement health plans, and active employee welfare plan benefits. The team coordinates with Lilly Human Resources and regularly reports through a fiduciary committee established by the Lilly Board of Directors. Position Summary The Associate Director - Controller is responsible for leading the fiduciary, controllership, and regulatory compliance management of the ~$32 billion of benefit plan assets. This role serves as the primary controller for all benefit plan trusts (U.S. and Puerto Rico Pension Plans, U.S. and Puerto Rico Savings Plans, VEBA I and VEBA II master trusts) and owns the financial operations, regulatory reporting, audit coordination, and compliance activities. The position requires financial and regulatory analysis, ERISA compliance expertise, coordination with internal and external partners, and ensuring maintenance of robust controls and documentation. The position reports to the Senior Director - Investments & OCIO Oversight.

Requirements

Bachelor's degree in Finance, Accounting, or MBA/MS with Finance/Accounting focus
Minimum 5-7 years of collective experience in accounting or finance
Qualified candidates must be legally authorized to be employed in the United States.
Lilly does not anticipate providing sponsorship for employment visa status for this position
Strong corporate finance/accounting analytical skills and aptitude with inquisitive nature
Direct controllership experience in previous role
Deep understanding of GAAP standards, ERISA regulations, and benefit plan compliance
Strong project management skills to develop detailed plans, direct internal resources (HR/Legal/Corporate Reporting/Audit) and external parties, manage costs/risks, and develop/deliver communication plans
Process owner/problem solver with proven experience driving productivity and creating repeatable, sustainable practices
Flexibility and teamwork orientation to goals and changing priorities
Strong communication, relationship, and teamwork skills
Learning agility to interpret new accounting and regulatory pronouncements and evaluate risks, impact, and alternatives
Third-party relationship management, due diligence, negotiation, and contracting experience
Knowledge of benefit plans (strategic and operational), trustee/custodian management, and fiduciary/regulatory/tax issues
Familiarity with actuarial concepts and fiduciary governance
Proficiency in Excel, Microsoft Office, and SAP
Experience working with internal and external auditors and financial management
Strong interpersonal communication skills and willingness to speak up and raise concerns
Sense of ownership, integrity, and commitment

Nice To Haves

CPA strongly preferred
Actuarial or investment certifications (CFA, CAIA, or EA) are a plus

Responsibilities

Management of External Relationships Manage relationships with EY, Plante Moran, Northern Trust, and other key service providers, including all contracts
Oversee quality, timeliness, fee arrangements, and relationship strategy with key vendors
Facilitate negotiations, benchmarking, and RFPs as needed
Drive process improvements and leverage relationships to ensure best practices, in particular on-going integration with GSAM processes to drive efficiencies.
Controllership & Fiduciary Oversight of Plan Assets Review and approve daily transactions including vendor payments, plan expenses, retiree payroll funding, and Company 401(k) monthly match coordination with trustees and external partners
Review and approve account reconciliations, journal entries, and journal voucher logs
Manage operations support for information requests from internal (Treasury, CFR, Legal, HR) and external (Aon, Northern Trust, EY, OCIO provider) business partners
Manage payment of Pension Benefit Guaranty Corporation (PBGC) premiums and related annual filings in coordination with Aon and HR
Ensure maintenance of all required regulatory documents and fiduciary records
Lead VEBA I Trust company contribution and reimbursement process and balance sheet forecasting for Corporate Financial Reporting
Coordinate retiree health plan reimbursement to the company
Identify opportunities for operational improvements, outsourcing, and cost reductions across the plans
Annual Benefit Plan Audits & Regulatory Compliance Manage compilation of benefit plan financial statements through outsourced accounting firm
Manage completion of benefit plan audits for U.S. and Puerto Rico Retirement Plans, U.S. and Puerto Rico Savings Plans, Lilly Employee Welfare Plan, and Lilly Retiree Health Plan
Oversee Form 11-K SEC filing for U.S. and Puerto Rico Savings Plans
Lead completion of Department of Labor Form 5500 filings (9 filings) including all schedules and IRS Form 8955-SSA filings (4 filings), ensuring timely completion by statutory due dates
Monitor new accounting pronouncements and regulations for impact on benefit plan financial statement disclosures and regulatory filings
Coordinate responses to Department of Labor audits as needed
Lead review and preparation of audit procedures for Alternative Investments driven by "Critical Audit Matter" (CAM) assessments
Coordinate all tax-related filings and compliance with third-party tax provider and trustee/custodian, maintaining current knowledge of industry best practices
Lilly Company Processes & Corporate Reporting Support Sarbanes-Oxley (SOx) related activities for PBI in coordination with Payroll, HR, and Corporate Financial Reporting
Support completion of all PBI work for disclosures in Company's 10-K Retirement Benefits footnote, including year-end asset leveling process
Manage responses to Corporate Audit Services' and EY's interim and year-end corporate audit requests
Create reporting for Lilly company annual corporate year-end audit, including gathering, analyzing, and summarizing pension footnote information
Support key company financial control and reporting processes including SOx compliance and external audit requests
Lead annual collection and review of affiliate pension data for compliance with Lilly Financial Policy 2L
Oversight of Savings Plans Master Trust Lead compliance and operational aspects for Savings Plan Master Trust
Review monthly disbursement reconciliation between custodian and administrator
Analyze and recommend annual accrual settings and prepare required disclosures
Fiduciary Review & Benchmarking Prepare annual fiduciary review process for benefit plan oversight committee
Coordinate gathering and organizing cost and performance data for third-party benchmarking analysis
Provide annual historical cost analysis for the trusts and present to management and oversight committee

Benefits

Full-time equivalent employees also will be eligible for a company bonus (depending, in part, on company and individual performance).
In addition, Lilly offers a comprehensive benefit program to eligible employees, including eligibility to participate in a company-sponsored 401(k); pension; vacation benefits; eligibility for medical, dental, vision and prescription drug benefits; flexible benefits (e.g., healthcare and/or dependent day care flexible spending accounts); life insurance and death benefits; certain time off and leave of absence benefits; and well-being benefits (e.g., employee assistance program, fitness benefits, and employee clubs and activities).

Stand Out From the Crowd

Upload your resume and get instant feedback on how well it matches this job.

Upload and Match Resume