IFS0165 - Director, Retirement Product Management

NRECA•Arlington, VA

5d•Hybrid

About The Position

NRECA is a unique national trade association providing advocacy, financial services and business support services to over 900 consumer owned electric cooperatives across the country. NRECA employees are united by our mission, inclusive culture, collaborative workplace and commitment to service excellence. As a “best place to work” employer, we operate with integrity, transparency and a spirit of innovation. Are you ready to be part of a dynamic, inclusive, and mission-driven insurance and financial services team? At NRECA, we cultivate and reward a commitment to delivering service excellence to our members every day. Our culture emphasizes a strong sense of belonging and integrity, driven by our core values of collaboration, communication, creative problem solving, and accountability. The work we do to develop and administer industry-leading employee benefit plans and services is diverse and intellectually challenging, and the results help improve the quality of life for hard working Americans all across the country. If you are motivated by mission and values, as well as competitive pay and outstanding benefits, then this is the place for you. Position Summary: Oversees the full life cycle of NRECA’s retirement product offerings (including defined contribution and defined benefit plans) serving a nationwide membership in 48 states. Evaluates customer needs, monitors competitors, and creates and maintains a five-year product development road map. Defines and communicates short- and long-term product integration and management strategies for the retirement programs, supporting a comprehensive benefits outsourcing solution for electric cooperatives. Evaluates and recommends enhancements and new services for retirement plans and supports the implementation of the retirement product development strategy and roadmap. Collaborates with other NRECA internal departments to ensure program compliance, competitiveness and affordability. Position is eligible for NRECA’s hybrid schedule which allows flexibility to work from home up to 2 days per/week

Requirements

Bachelor’s degree in a related field or an equivalent combination of education, training, and additional experience.
10+ years of experience in retirement (defined benefit and defined contribution) product administration and management required; direct knowledge of multiple-employer plans a plus
Knowledge of ERISA, IRS and DOL regulations and laws related to defined contribution and defined benefit plan administration.
Demonstrates skill in leading product and project teams, building effective groups that consistently deliver strong outcomes.
Demonstrates skill in the successful execution of business process re-engineering, workflow design, and change management initiatives.
Skilled in overseeing and managing vendor relationships.
Skilled in the use of technology to integrate the “user experience” across multiple product lines and delivery channels in order to simplify usability and enhance productivity, efficiency, and accuracy.
Ability to effectively present complex ideas/issues to large groups and C-suite executives required.
Ability to communicate, both verbally and in writing, with a diverse membership, employees and/or vendors in a clear and precise manner.
Ability to use Microsoft Office tools (Excel, Word, Outlook, Power Point) and to operate various office equipment such as personal computers, copier, printer, fax machine or other job-related equipment.

Nice To Haves

Master’s degree preferred.
5+ years managing and/or marketing other retirement, investment and/or group health/welfare insurance programs also preferred
CEBS, CFP, ChFC, and/or QKA certification desired
Strong knowledge of institutional investments and asset management desired; financial planning and/or executive compensation consulting experience a plus

Responsibilities

Leads the retirement product offering and monitor industry and competitor trends for enhancement opportunities.
Manages a team of subject matter experts and analysts responsible for designing and delivering retirement products and services to cooperatives.
Develops, implements and maintains the retirement product vision, strategy, and 5-year roadmap, including defining short- and long-term integration strategies for defined benefit and defined contribution programs, to ensure that NRECA remains the provider of choice for cooperative’s pension and employee savings programs.
Directs the evaluation and relationship management of vendor firms engaged to manage the retirement programs.
Collaborates with NRECA’s strategic sourcing & procurement team to oversee contract negotiations with current and future vendors, ensuring performance aligns with contract expectations and delivers an appropriate return on investment; directs vendor audits and performance review to identify areas for improvement.
Serves as the business sponsor for the design and development of retirement and savings products/tools and directs their integration with other benefits programs sponsored by NRECA.
Leads efforts to deliver accurate, reliable and affordable customer service and problem resolution, leveraging NRECA’s business process excellence model.
Develops and maintains business unit metrics to monitor customer satisfaction and participation, business gains and losses, unit P&L, and utilization at both the co-op and participant level, supporting management of the offering portfolio and reporting to senior management.
Ability to report to the office when required.