Director of Benefits

Xcel Energy•Minneapolis, MN

26d

About The Position

A visionary leader responsible for the design, development and implementation of the company's health, well-being and retirement programs through a strategic mindset. This role requires a deep understanding of the evolving benefits landscape, a keen awareness of organizational objectives, and a passion for fostering a workplace that attracts, engages, and retains top talent. The Benefits Director is a crucial role on the Total Rewards leadership team to foster partnerships across HR and collaborate with Finance, Legal and external partners to align plan design and enhance the employee experience and organizational performance.

Requirements

Bachelor's degree in a HR, business, or related field or an equivalent combination of education and relevant experience. Advanced degree preferred.
10+ years of progressive experience in benefits, with at least 5 years in a leadership or strategic role.
Comprehensive knowledge of employee benefits, including health and welfare, retirement, voluntary benefits, and wellness programs.
Strong understanding of relevant laws and regulations governing benefits at the federal and state levels.
Demonstrated expertise in program design, vendor management, data analysis, and cost management.
Proficiency with HRIS, benefits administration systems, and analytics platforms.
Professional certifications such as CEBS, SPHR, SHRM-SCP, or similar credentials are preferred.

Nice To Haves

Workday experience as a user.
Prior union exposure / labor negotiation exposure (supported a company that has bargaining employees).
Prior experience managing an environment where the benefits team was focused on planned design, working in partnership with HR Shared Services or HR Ops on program execution and administration.

Responsibilities

Program Design & Innovation Develop and execute a comprehensive benefits strategy that aligns with the Total Rewards organization’s philosophy to support business objectives.
Champion innovative program offers in response to diverse workforce demographics and needs.
Benchmark existing programs against industry standards and leverage workforce analytics, program data and employee surveys to assess the effectiveness and return on investment of benefits programs.
Make evidence-based decisions for continuous improvement by analyzing program costs, utilization, and claims data to optimize plan design and control expenses while maintaining or enhancing value for employees.
Partner with HR Technology and HR Operations to ensure understanding of system and administration implications based on new and revised plan design structures.
Collaborate closely with the Total Rewards Program Manager on labor strategy framework and serve as a backup when needed in negotiation sessions.
Vendor Management & Cost Optimization Lead the selection and management of third-party benefits vendors and consultants through the development of RFPs, proposal evaluation, and solution implementation.
Foster strong relationships with external partners to ensure high-quality service delivery and continuous innovation.
Partner with Finance and vendors to monitor costs, analyze financial drivers, and find ways to reduce impact.
Work with Sourcing to manage agreements and establish plans for assessing terms and negotiating before contract expiration.
Compliance & Risk Management Partner with legal counsel and external advisors to stay abreast of regulatory trends and proactively respond to legislative changes to ensure all benefits programs comply with federal, state, and local regulations (e.g., ERISA, ACA, ADA, HIPAA, COBRA, FMLA, etc.).
Oversee audits, reporting, filings, and documentation to mitigate risk and maintain legal compliance.
Ensure wrap documents, plan documents and summary plan documents (SPDs) are maintained and updated to accurately reflect current plan design and in compliance with federal, state and local requirements.
Employee Engagement & Communication Develop and execute comprehensive benefits communication strategies to maximize awareness, understanding, and employee participation.
Identify opportunities for ongoing program education, format of delivery and execution to foster understanding of company-provided benefits for all employee groups.
Act as a resource for employees, addressing escalated inquiries and resolving complex issues with empathy and expertise.
Solicit and incorporate employee feedback to ensure programs meet evolving needs and preferences.
Team Development & Leadership Build, mentor, and lead a high-performing benefits team, fostering a culture of excellence, collaboration, and continuous learning.
Set clear objectives, provide regular feedback, and guide professional development to strengthen the team’s capabilities.
Promote cross-functional partnerships within HR, finance, legal, and operations to drive integrated solutions and strategic alignment.
Ensure business continuity through the ongoing development and maintenance of standard operational procedures, process documentation, and cross training.