Manager, U.S. Benefits

Royal Bank of Canada•Edina, MN

1d•$70,000 - $130,000•Onsite

About The Position

Responsible for the communication, governance, financial management, and vendor management of RBC’s U.S. Health and Welfare Benefit programs, including Wellness programs. RBC U.S.A. has approximately 9,000 employees and 1,200 retirees, excluding City National Bank. The role continually ensures that programs are affordable and financially sustainable long-term for RBC, transparent in their offerings and costs, understood and appreciated by employees in terms of value and choice, competitive in aggregate with peer companies, and an expression of RBC’s employee value proposition.

Requirements

At least 5 years of relevant work experience.
Bachelor’s degree in a relevant field or equivalent work experience.
Extensive knowledge of U.S. benefit programs and policies, including proven solid technical expertise.
Understanding and experience with ERISA, DOL, and IRS rules and regulations.
Experience with benefit plan design and governance.
Practical, solution-focused approach, including end-to-end execution.
Excellent interpersonal and communication skills.
Strong project management and problem-solving skills.
Leadership skills, including the ability to be a team player and a strong self-starter.
Excellent technical skills and experience with Microsoft Office, including Excel, Word, Access, PowerPoint, and Outlook.

Nice To Haves

CEBS.

Responsibilities

Recommend opportunities to improve alignment with business objectives and RBC’s employee value proposition, and enhance long-term cost efficiency and containment.
Execute approved strategy and implement plan changes, ensuring legislative compliance and partnering with internal teams and external vendors across U.S. businesses and locations.
Implement program design recommendations, including plan amendments, employee communications, and coordination with applicable vendors.
Monitor market trends and legislative developments that may affect RBC’s U.S. benefit programs and develop appropriate solutions.
Research and resolve escalated employee cases and situations, considering individual and business needs and alignment with RBC’s benefits principles.
Manage annual enrollment activities, coordinating with IT and HR Advice to ensure successful implementation and a positive employee experience.
Promote wellness initiatives across U.S. businesses and locations.
Identify opportunities to improve transparency, encourage consumerism, and help employees make informed decisions.
Monitor plan expenses and facilitate invoice payments.
Manage program and vendor costs, recommending efficiencies, technologies, processes, and plan design changes to support financial sustainability and affordability.
Manage vendor relationships for U.S. benefit programs, including periodic reviews and performance against service level agreements.
Lead vendor contract discussions and renewals in coordination with procurement and legal.
Update plan documents, seek review and approval, and administer plan documents, governing committee updates, and relevant documentation.
Manage communications for employees and retirees, including benefit bulletins, annual enrollment materials, plan changes, SPDs, SMMs, employee tools, and targeted communications.
Maintain strong relationships with Total Rewards Delivery and HR Advice teams, providing support and training as required.

Benefits

Competitive compensation.
Flexible benefits.
401(k) program with company-matching contributions.
Health, dental, vision, life, and disability insurance.
Paid time off.
Coaching and management opportunities to support professional development.
Opportunities to make a difference and lasting impact.
Work in a dynamic, collaborative, progressive, and high-performing team.
Opportunities to do challenging work.
Opportunities to build close relationships with clients.
Potential to earn additional compensation through RBC’s discretionary variable compensation program, based on business performance targets and individual goals.