Senior Pension Administrator - Core Market Defined Benefits

Fidelity•Covington, KY

About The Position

The Senior Pension Administrator processes moderate- to high-complexity defined benefit calculations and transactions accurately and on time in a multi-client environment, under minimal supervision. The role involves using Fidelity systems and client-specific databases, procedures, and plan rules to research and process calculations, disbursements, and data updates. The administrator works with internal Fidelity teams, clients, and plan participants to support effective defined benefit plan administration and services. The position provides administrative and operational support to existing and new defined benefit clients in a fast-paced, time-critical environment. It includes reviewing participant requests, managing workflows, building calculation tools, manually calculating and reviewing pension benefits, and communicating with participants about calculations or issues. The role also supports audit requests, system testing, and departmental projects. Training in defined benefit administration and calculations will be provided to support success in the role. Fidelity is transitioning to a full-time onsite working model through a phased rollout across regions and roles. Current onsite requirements vary by role and location and may evolve. This transition does not apply to fully remote roles.

Requirements

Bachelor’s degree or equivalent work experience.
Strong mathematical, analytical, and intuitive skills.
Ability to build calculation tools.
Motivation and commitment to precision, with a positive, can-do work ethic.
Ability to work as a team member while meeting individual timeliness and accuracy goals.
Ability to adapt to an evolving environment.
Strong organizational skills and attention to detail.
High integrity and discretion when handling sensitive client data.
Initiative in solving problems and implementing solutions.
Ability to work independently.
Strong PC software skills, including Excel, Outlook, and Word.
Strong communication skills.

Nice To Haves

A bachelor’s degree in mathematics, finance, or business is preferred.
Defined benefit knowledge and experience is a plus, but not required.

Responsibilities

Service existing and new defined benefit retirement plan clients by providing administrative and operational support to clients and plan participants.
Process varied pension calculations and disbursement setups while meeting timeliness and accuracy standards.
Review and triage participant requests to determine the appropriate resolution and routing.
Manage and monitor workflows.
Interpret plan rules to ensure accurate calculations and disbursements.
Build calculation tools.
Analyze and process transactions to meet quality standards for calculations, disbursements, and data updates.
Contact participants by phone or through letters and forms to explain calculations or resolve participant- or client-related issues.
Support external client and internal audit requests by providing documentation, conducting research, and answering questions as a client and plan expert.
Manually calculate and review pension benefits for plan participants.
Support monthly testing of system upgrades and releases.
Participate in special departmental projects.