Sr Analyst, Retirement & 401(k)

Exelon•Baltimore, MD

About The Position

Responsible for the administration of the company's qualified and nonqualified defined benefit and defined contribution (401(k) and Deferred Compensation) plans, including QDRO administration. Serves as the subject matter expert in these areas. Works directly with third party administrators (TPA) related to delivery of Pension, 401(k) and QDRO administration. Supports Manager in role of primary company representative and liaison with internal clients and external Pension/401(k)/QDRO vendors to ensure a high level of customer satisfaction and cost savings across Exelon. Understands the end-to-end process and creates/designs new processes. Individual works directly with the Retirement Plans Manager to resolve plan, policy or ERISA appeal issues. Also, supports 401(k) and Deferred Compensation Plan administration, working directly with the TPA and supporting the Manager in the administration of the defined contribution plans and as a subject matter expert in this area.

Requirements

4-year degree in business, HR, or related field or 6 to 9 years of related experience
Minimum of 4 to 7 years in Pension or 401k administration or corporate benefits
Project management experience and skill set.
Proven ability in vendor management
Ability to analyze and summarize data and prepare solutions for management review
Excellent excel and data analysis skills and strong attention to detail
Excellent customer service skills, strong communications skills, and solid project management skills.
Understanding of defined contribution retirement plans as well as QDRO administration.
Ability to work well in project environment.
Makes decisions based on analysis of relevant information including plan documents, problems, root cause analysis, priorities, critical issues, and alternatives.
Works with others to achieve common goals that result in more than what could be done individually.
Advanced skills in accountability, ownership and a strong sense of urgency in responding to customers
Knowledge of applicable laws and regulations

Nice To Haves

Certified Employee Benefits Specialist.
Experienced TPA work in defined benefit defined contribution.
Experience completing complex pension calculations, both qualified and nonqualified.
Experience and success in building co-operative business relationships with employee representatives.

Responsibilities

Supports the administration of the company's qualified and nonqualified defined benefit and defined contribution benefit plans and serves as the subject matter expert on all retirement plans as well as supporting the defined contribution plans (50%)
Supports the management of the TPA and monitors compliance with contractual performance standards (15%)
Evaluate and interpret plan documents, procedures, and contracts related to Pension/401k/Deferred Compensation/QRDOs to ensure company and legal compliance as governed by ERISA, the Internal Revenue Code and Department of Labor (10%)
Identify, develop, and implement process improvements to ensure service levels and customer satisfaction are met. (5%)
Primary support for delivery of the pension and 401k annual updates, delivery of actuarial data, any retiree cost of living adjustments and funding instructions of the pension plan checking accounts and funding of the 401k plan trustee and accounts. (15%)
Identify controls to ensure compliance with Sarbanes-Oxley. Self audits and monitors operations to ensure controls are operating as designed. (5%)

Benefits

Annual salary will vary based on a candidate’s skills, qualifications, experience, and other factors: $91,200.00/Yr. – $125,400.00/Yr.
Annual Bonus for eligible positions: 15%
401(k) match and annual company contribution
Medical, dental and vision insurance
Life and disability insurance
Generous paid time off options, including vacation, sick time, floating and fixed holidays, maternity leave and bonding/primary caregiver leave or parental leave
Employee Assistance Program and resources for mental and emotional support
Wellbeing programs such as tuition reimbursement, adoption and surrogacy assistance and fitness reimbursement
Referral bonus program
And much more