Manager Retirement Plans

University of Maryland Medical System • Linthicum Heights, MD

13d

About The Position

This position has systemwide responsibility for the strategy, direction and administration of UMMS Retirement Plans philosophy, practices and programs in alignment with the Total Rewards strategy and UMMS strategic initiatives. Builds comprehensive and competitive retirement programs that support the objectives of achieving a market competitive advantage from both a financial and team member perspective.

Requirements

• Bachelor’s degree in business, Finance, Human Resources or related field or the equivalent combination of education, training and experience.
• Experience in leading ERISA-qualified Retirement Plan administration
• Detailed knowledge of government laws and regulations as they apply to retirement plans.
• Demonstrated ability to translate complex retirement and regulatory concepts into clear guidance for team members and leaders.
• Demonstrated experience in implementing and analyzing retirement programs for all levels in an organization including executive, professional, specialty, exempt and non-exempt.
• Demonstrated high level analytical and problem-solving skills and business acumen.
• Demonstrated Expert level skills in spreadsheet analysis.
• Demonstrated highly effective written and verbal communication, presentation, and interpersonal skills; these are required to work successfully with various levels of administrative and management team members including senior executives.
• Demonstrated effectiveness in new program design, customer service and project management.
• Ability to develop and manage effective vendor relationships.

Nice To Haves

• Master’s degree in business, Finance, Human Resources or related field.
• Current certification in Benefits (CEBS or CBP), or Human Resources.
• Experience in leading a team(s)
• Healthcare industry experience.
• Knowledge of INFOR Cloud Suite Human Capital Management is preferred.

Responsibilities

• Responsible for administration, strategy, design, integrity and compliance of all UMMS retirement plans, ensuring actions are taken in the interest of plan participants and beneficiaries in compliance with ERISA and applicable regulations. Uses knowledge of and research on current trends, leads efforts to identify, enhance, evaluate, recommend and implement approved retirement benefit programs in support of and consistent with the organization’s objectives, mission and values.
• Responsible for preparation and modifications of Plan Documents, Summary Plan Descriptions and policies and procedures, as needed. Interprets plan provisions as required. Partners with internal and external resources to resolve complex claim and administrative issues. Responsible for regularly monitoring/auditing for adherence of practices to the relevant policy/procedure documented.
• Responsible for the retirement department budget. Prepares annual budgets and approves invoices for group retirement plans and programs. Develops and monitors metrics/measurements to report out on retirement programs. Works with Finance to ensure that corporate budgeting/financial reporting provide appropriate data for management review and analysis.
• Completes and oversees annual internal and external audits for all retirement plans as required by federal regulations and plan provisions, making recommendations of changes that may be needed to maintain plans in legal compliance with federal regulations, that are competitive with market and/or that may improve efficiencies or cost effectiveness of plan operations.
• Manages the retirement team, supporting workforce planning, succession planning and development of team capabilities in our High Reliability Organization (HRO). Oversees hiring, orientation, coaching, training and development of team members. Provides leadership and technical guidance to team. Develops standards of performance, ensures adherence with service level agreements, conducts performance evaluations and initiates actions such as merit increases, promotions, and disciplinary actions.
• Manages relationship and performance of all retirement vendors, investment advisor(s) and internal and external legal partners. Ensures appropriate internal controls, data security practices and vendor risk management processes are in place to protect participant data.
• Collaborates with human resources and operational leaders as needed to create agendas, prepare recommendations, and prep materials, including fees and expenses for regular review by various governance structures (e.g., Committees and Union Councils). Develops and monitors metrics related to participation, deferral rates, plan costs, compliance and retirement outcomes and uses insights to make recommendations to inform strategy. Presents findings and supports implementation of approved actions.
• Stays current on regulatory changes impacting Retirement Plan policy or procedures and leading any changes needed for compliance. Assures through thorough audits, reports, and personal contact that system programs are consistently documented and administered in compliance with organization policies and government regulations.
• Performs all other duties as assigned

What This Job Offers

• Job Type: Full-time
• Career Level: Manager