Federal Reserve Board · 15 hours ago
Manager, Benefits - Management & Financial Services
Washington, DC
Full-time
Onsite
Senior Level
$140K/yr - $241K/yr
6+ years expThe Federal Reserve Board is seeking a Benefits Manager who will provide leadership and direction to the Benefits staff. This role is responsible for managing the overall design, implementation, and administration of Board-wide benefits programs while ensuring compliance with legal and regulatory requirements.
Banking
Responsibilities
Responsible for the overall management of the Benefits Office. Creates goals and objectives; assigns projects and other work to Benefits staff and manages overall performance of the section. Manages technical work and provides leadership, guidance, motivation, and coaching to Benefits staff. Evaluates the performance of Benefits staff. Makes recommendations for personnel actions (hiring, types of positions, promotions, salary reviews), Responsible for fostering teamwork and for instilling a strong customer service mindset in Benefits staff. Manages the operating budgets of the benefits section
Conduct studies of significant benefit-related issues by researching, reviewing, and analyzing data. Recommends new initiatives, changes or interpretations of policies and procedures while ensuring that programs incorporate sound cost containment principles, anticipate and meet legislative/regulatory requirements, and reflect organizational needs and goals. Make oral and written presentations for senior management. Serves as project manager for selected benefits program implementation. Handles issues of a complex or sensitive nature, particularly related to retirement and thrift plan issues. Perform these activities independently and consult with Total Rewards Senior Manager. Monitors benefits plan utilization and identify trends that may impact costs
Ensures benefits plans comply with applicable laws and regulations, working with Legal Division or outside consultants as appropriate. Ensures corresponding benefits policies are current, competitive, and legal Reviews new, or changes to, procedures and programs received from OEB or OPM and ensures accurate implementation with counsellors, Acts as Board liaison with OEB and Recordkeeper vendor on thrift and retirement administration
Develops and revises both oral and written benefit communications material, Responsible for ensuring accurate and up-to-date benefits communications on the Board's intranet site, in plan documents and summary plan descriptions, the Customer Relationship Management (CRM) tool, new hire orientation, recruiting brochures, retirement and thrift handbooks, total rewards statements, and other media (such as video) and printed materials. Identifies communications gaps and recommend new systems and methods for benefits communications delivery
Leads procurement initiatives for the benefits section. Prepares for plan negotiations through timely identification of relevant issues, preparation of cost projections and supporting analyses of carrier proposals. Coordinates work with outside contractors. Writes, or otherwise delegates, and reviews specifications for major contractual job requirements. Monitors and reviews contractual work, and certifies satisfactory job accomplishment, May act as Contract Officer's Technical Representative (COTR)
Resolves complex benefits issues or problems with insurance carriers, OEB, and benefits consultants. Oversee the development of automated solutions for managing, monitoring and reporting alternate work arrangement, STD/LTD, FMLA, etc. and the associated integrations. Consults with Total Rewards Senior Manager or legal counsel about exceptions to policy
In partnership with the Technology Team contributes to the automation solutions for the Benefits Office, including but not limited to, automation related to HCM Systems (such as Workday and Service Now) OPM (TCC, CLER), retirement and thrift recordkeeper, and vendor interfaces and feeds. Partners with other departments such as Technology Services, Payroll, Accounting and outside vendors to accomplish technical goals and objectives. Monitors the work of the Benefits Office through the CRM tool and adjusts workload
Responsible for responding to requests for data through the annual Financial Accounting Standards (FAS) life insurance and retirement valuations processes, Sarbanes-Oxley, and other audit requests. Establish policies and procedures to address internal controls and make changes as necessary. Also responsible for all reporting requirements of all relevant government rules and regulations, including the Employee Retirement Income Security Act (ERISA)
Qualification
Required
Bachelor's degree or equivalent experience
6 years of extensive responsible work experience in the benefits area of human resources management
Excellent analytical ability
Oral and written communications skills
Broad understanding of the interrelationships between benefits and other human resources disciplines
Expertise in the benefits area of human resources management
Demonstrated abilities in strategic planning, program design, risk assessment and monitoring, automation, staff supervision, and functional management
Good understanding of the operations technical, policy legal, and regulatory requirements for Benefits programs
Ability to follow changes in law and regulations and recommend creative solutions to operational and policy issues based on an understanding of the subject matter
Preferred
Experience in federal government benefits programs, including various health, dental, vision, retirement and pension plans
Technical benefits knowledge of automated systems (Workday and Service Now desired)
Benefits
Relocation Provided
Company
Federal Reserve Board
The Federal Reserve System is the Central Bank of the United States.
1001-5000 employees
Funding
Current Stage
Late StageLeadership Team
Don Hammond
Chief Operating Officer
Nicole Bynum
Deputy Director (Division COO)
Recent News
2025-05-05
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