Head of US Benefits

Verition Group LLC•Norwalk, CT

8h•Onsite

About The Position

Verition Fund Management LLC (“Verition”) is a multi-strategy, multi-manager hedge fund founded in 2008. Verition focuses on global investment strategies including Credit, Fixed Income & Macro, Convertible & Volatility Arbitrage, Event-Driven, Equity Long/Short & Capital Markets, and Quantitative Strategies. This role is responsible for the strategy, design, implementation, and ongoing management of Verition's US benefits programs. The Head of US Benefits will oversee all aspects of health, welfare, and retirement plans, ensuring they are competitive, cost-effective, and meet the needs of employees while aligning with the company's overall business objectives. This includes managing vendor relationships, ensuring compliance with all relevant regulations, and driving operational efficiency within the benefits function.

Requirements

Experience in health plan design decisions, recommending plan structures, networks, deductibles, copays, coinsurance, OOP maximums, and employer/employee contribution splits.
Experience evaluating emerging benefits and making recommendations based on utilization data, cost modeling, employee demand, and competitive benchmarks.
Experience designing holistic wellbeing strategies.
Experience managing vendor and broker relationships, including renewal strategy, market analysis, RFP scope, and negotiation.
Experience with quarterly business reviews (QBRs) with vendors and brokers.
Experience owning a benefits administration system (e.g., Workday Benefits), including annual OE configuration, carrier data feed accuracy, and integrations.
Knowledge of US federal and state compliance regulations including ERISA, ACA, HIPAA, COBRA, FMLA, Section 125, and state-specific mandates.
Experience maintaining Summary Plan Descriptions (SPDs), Summary of Benefits and Coverage (SBCs), plan amendments, and wrap plan documents.
Experience with Form 5500 filing and plan audits.
Experience managing ACA employer mandate reporting (1094-C / 1095-C).
Experience with invoice reconciliation and payment processes for benefits.
Experience partnering with payroll on LOA benefits coordination, payroll deduction accuracy, HRIS data feeds, and process design.
Experience planning and executing annual Open Enrollment (OE).
Experience developing and overseeing employee-facing benefits communications.
Experience processing mid-year benefit changes due to qualifying life events.
Experience managing COBRA administration and vendor relationships.
Experience ensuring accuracy of carrier data feeds and auditing enrollment data.
Experience managing Employee Assistance Program (EAP) vendor relationships.
Experience serving as an escalation point for complex employee benefits issues.
Experience coordinating wellness-related efforts.
Experience ensuring competitiveness of leave and time off policies.
Experience processing leaves of absence (FMLA, state leaves, parental leave, personal leaves) in HRIS systems.
Familiarity with Workday for benefits administration, life events, COBRA, and leave processing.

Nice To Haves

Experience moving to a self-funded approach for medical.
Experience with GLP-1 drug coverage, fertility, student loan repayment, and caregiver support benefits.
Experience with ESG committees.
Experience with employee engagement activities like Step Challenges, Mental Health Awareness Activities, and fitness-related runs/walks for charity.

Responsibilities

Develop and execute the US benefits strategy, including health plan design decisions, recommending plan structures, networks, deductibles, copays, coinsurance, OOP maximums, and employer/employee contribution splits across medical, dental, and vision plans.
Evaluate emerging benefits (e.g., GLP-1 drug coverage, fertility, student loan repayment, caregiver support) and recommend additions/modifications to current offerings.
Design and implement a holistic wellbeing strategy encompassing physical, mental, and social pillars.
Manage relationships with benefits brokers/consultants, including renewal strategy, market analysis, RFP scope, and negotiation.
Oversee quarterly business reviews (QBRs) with key vendors and the broker, reviewing claim data, member satisfaction, and compliance.
Own the benefits administration system (Workday Benefits), including annual OE configuration, carrier data feed accuracy, and integrations with HRIS and payroll.
Ensure compliance with US federal and state regulations, including ERISA, ACA, HIPAA, COBRA, FMLA, Section 125, and state-specific mandates.
Maintain and ensure timely distribution of plan documents such as Summary Plan Descriptions (SPDs), Summary of Benefits and Coverage (SBCs), plan amendments, and wrap plan documents.
Manage the annual Form 5500 filing and coordinate with the broker on plan testing and audits.
Oversee ACA employer mandate reporting (1094-C / 1095-C) in collaboration with the payroll vendor.
Reconcile invoices and ensure timely payments to prevent lapses in coverage.
Partner with payroll on LOA benefits coordination, payroll deduction accuracy, HRIS data feeds, and benefits administration process design.
Plan and execute the annual Open Enrollment (OE) window, coordinating system configuration, carrier data feeds, employee communications, and informational sessions.
Develop and oversee all employee-facing benefits communications, including enrollment guides, comparison tools, and FAQs.
Oversee the process for mid-year benefit changes due to qualifying life events.
Manage COBRA policy and the COBRA administrator vendor relationship, ensuring compliance and performance.
Ensure accuracy of carrier data feeds and conduct regular audits of enrollment data against carrier invoices.
Own the Employee Assistance Program (EAP) vendor relationship and integrate EAP into crisis response.
Serve as an escalation point for HR Business Partners on complex employee benefits issues.
Participate in and coordinate wellness-related efforts with the ESG committee and HRBPs.
Ensure leave policies and time off policies are competitive and well-understood by managers and employees.
Process mid-year benefit changes, COBRA qualifying events, and leaves of absence in Workday, ensuring accuracy and compliance with timelines.
Manage annual calendar activities including renewals, Form 5500 filing, ACA reporting, RFP processes, plan design decisions, and open enrollment.