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CVS Health · 1 month ago

Senior Manager, HR Retirement

PA - Blue Bell

Full-time

Hybrid

Senior Level

$83K/yr - $183K/yr

7+ years exp

CVS Health is the nation’s leading health solutions company, dedicated to transforming health care for millions of Americans. They are seeking a Senior Manager, HR Retirement & Benefits to oversee investment operations and benefit compliance for various HR benefit programs, ensuring adherence to regulatory obligations and optimizing operational workflows.

Health CareMedicalPharmaceuticalRetailSales

Responsibilities

Manage qualified defined contribution plan investment administrative operations between the trustee, investment advisor(s), consultants and recordkeeper for fiduciary oversight, investment changes and related issues including preparing directives, reconciling of monthly asset statements, managing day-to-day investment issues and reviewing manager invoices; (Note: this role does not interact with investment managers, rather it supports the execution and operations of investment transactions with and among the various vendor banks, trustees, recordkeepers, consultants & technology specialists) and internal stakeholder teams

Coordinate with the independent investment advisors and vendors to ensure smooth operations and optimize workflow of investment activity needs

Assist in fiduciary oversight matters, including support of Investment Subcommittee meetings

Manage and facilitate investment related contracting between vendors and the plans in partnership with internal ERISA legal teams and outside counsel including but not limited to learning about Investment Management Agreements (IMA’s) and creating a process to review and validate all documentation (e.g., Form ADV updates, SSAE 16/SOC 1, proxy voting policies, etc.)

Interact and liaise as needed with various internal and external stakeholders to communicate complex investment structures/transactions effectively

Continually analyze, review, and improve the working processes and controls of the execution of investment related transactions and matters impacting the 401(k) plans

Familiar with ERISA, internal and external audit, including Form 5500, audited financial statements is a plus to assist with investment reporting and reconciliation as needed, including support of 11-k filing needs and participant communication needs (e.g., fund changes)

Monitor regulatory changes and their impact on benefit compliance obligations

Enact practices to ensure adherence for regulatory obligations associated with the HR Benefit programs and recommend enhance to processes or services related to HR Benefit compliance efforts with ERISA, IRS, DOL and various state mandates

Create efficiencies and identify opportunities to continuously improve the overall HR Benefit compliance experience for stakeholders

Serve as a strategic partner for the business and as a subject matter expert on HR benefit compliance matters and documenting process

Interact with CVS Health legal team on regulatory, M&A, and privacy matters

Provide oversight, adherence, and delivery of regulatory obligations, for the H&W, VEBA, MEWA, wellbeing and retirement plans (areas include external reporting (11-K), federal and state tax filings (Form 5500, 8955-SSA, M-1, etc.), participant communications (401(a)(5), SARs, etc.), internal controls (SOX), external controls (SOC1, SOC2), external standards (GAAP) and controlling documents (plan documents, SPDs, SMMs, etc.)

Serve as a subject matter expert on cross functional mergers, acquisitions, and divestitures teams as needed

Qualification

Employee benefit plansRetirement plan complianceInvestment operationsRegulatory complianceAnalytical skillsMS Office skillsOrganizational skillsCommunication skillsCollaboration skillsAttention to detailWork independently

Required

7+ years plus functional experience with employee benefit plans in one or more areas (Retirement, Investments, Audit, Finance)

Concrete knowledge of plan operations, administration, and compliance of retirement plans

Demonstrated organizational skills and attention to detail required

Experience with numbers and investments

Preferred

Experience with back office investment operations or Health and Welfare compliance obligations

Experience with numbers and investments

Ability to work independently in a fast-paced environment

Ability to collaborate with executives and colleagues at all levels

Knowledge of finance, quantitative and analytical skills strongly preferred

Strong MS Office skills

Excellent written and oral communication skills

Benefits

Affordable medical plan options

401(k) plan (including matching company contributions)

Employee stock purchase plan

No-cost programs for all colleagues including wellness screenings, tobacco cessation and weight management programs, confidential counseling and financial coaching

Benefit solutions that address the different needs and preferences of our colleagues including paid time off, flexible work schedules, family leave, dependent care resources, colleague assistance programs, tuition assistance, retiree medical access and many other benefits depending on eligibility.