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Federal Reserve Bank of San Francisco · 3 months ago

SVP, Plan Administration - Office of Employee Benefits

Newark, NJ

Full-time

Onsite

Director/Executive

Federal Reserve Bank of Atlanta is a vital component of the nation's central banking system, and they are seeking a Senior Vice President for Plan Administration within the Office of Employee Benefits. This role is responsible for leading the administration of comprehensive benefits programs for Federal Reserve System employees, ensuring compliance and strategic alignment with organizational goals.

BankingFinanceFinancial Services

Responsibilities

Lead team of benefits professionals responsible for the operation and administration of the Federal Reserve System’s qualified and non-qualified defined contribution plans, defined benefits plans and senior executive plans that include employees and retirees of the 12 Reserve Banks, the Board of Governors and the Consumer Financial Protection Bureau

Establish strategic goals for the Plan Administration team and Office that align with the overarching FRS benefits strategy and mission and goals of the OEB

Achieve long-term results by providing strategic direction, evaluating benefit trends and the environmental landscape in recommending benefit plan design and enhancements. Communicate developments in the benefits marketplace, leverage information to make informed strategic recommendations, and make vendor recommendations as appropriate

Accountability for compliance with IRS rules documentation governing qualified and non-qualified plans

Research and respond to complex participant issues and appeals

Direct activities related to procurement, audits and vendor management for the benefits plans

Establish and manage relationships with stakeholders, external consultants and vendor partners involved in benefits plan operations and administration

Provide oversight, strategic direction and development opportunities for other People Leaders and experienced professionals

Advise, educate and influence others cross-functionally within the OEB and across the FRS and on topics including plan design, new benefit programs, regulatory changes and related policies

Serve as a member of the OEB’s Senior Leadership Team including service on the OEB’s Budget Committee and Risk Management Committee

Qualification

Benefits program designPlan administrationVendor managementCompliance with IRS rulesFinancial oversightStrategic planningProject managementCoachingDevelopmentData security awarenessActuarial experienceDegree in FinanceCertified Employee Benefits SpecialistQualified Pension AdministratorInterpersonal skillsCommunication skillsLeadership abilitiesNegotiation skills

Required

Comprehensive experience in benefits program design and administration, with a thorough understanding of assigned benefits plans

Proven track record as a senior-level officer in Benefits Plan Administration

Strong skills in negotiation, facilitation, communication, influence, and relationship-building

Exceptional people management abilities, demonstrating inspirational leadership and a proven capacity to coach and develop high-performing, diverse teams

Commitment to the highest level of personal and professional integrity, instilling these values within the team

Excellent business management capabilities, including strategic planning, project management, and financial oversight

Technical aptitude to assess complex automation and information security needs, risks, and solutions, with a keen focus on data security due to the sensitive nature of the information managed

Outstanding interpersonal, written, and verbal communication skills

Highly credible leadership with extensive functional expertise in employee benefits and significant knowledge of products

Resilience in overcoming challenges related to program development and administration

In-depth understanding of innovative approaches to employee benefits across industries, with the ability to identify and leverage effective strategies

No specific years of experience are required, candidates with real-world, practical experience will be highly valued

Preferred

Master's degree in Finance or Accounting is preferred but not required

Actuarial experience is a plus

Additional valuable credentials include Qualified Pension Administrator (QPA), Certified Employee Benefits Specialist (CEBS), and experience with federal benefit programs such as retirement plans, health and wellness plans, and familiarity with Office of Personnel Management (OPM)

Benefits

Defined-Benefit Retirement Plan

Thrift Savings Defined-Contribution Plan (401k)

Health and Wellness Programs

Long-term Disability Programs

Various Executive Benefits Options

Voluntary Insurance Plans, including Personal Accident, Business Travel, and Group Universal Life

Other Voluntary Benefits

Company

Federal Reserve Bank of San Francisco

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We are the Federal Reserve Bank of San Francisco—public servants with a mission to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans.

Founded in 1913