|Position Description:||Please apply at www.miami.edu/careers R100037245|
The University of Miami is looking for a dynamic leader -the Executive Director, Benefits, develops and implements the overall benefits strategy for the University of Miami health and welfare programs, as well as life insurance and retirement programs. This role manages the Benefits department, is responsible for the competitiveness and cost effectiveness of the company’s benefit programs and oversees open enrollment, which includes development of collateral, implementation and University-wide communications. The executive director assists the Associate VP of Total Rewards and counsel to the organization’s leaders, develop strategic and tactical workforce benefit plans, deliver initiatives in support of total rewards objectives, and coordinate and provide oversight for the committees responsible for these functions. Serving as the on-site expert, the executive director will lead the strategic planning, and vendor implementation and operations for the University of Miami health and wellness and retirement and financial planning objectives. Serving as a member of the total rewards leadership team, the executive director will participate in strategic planning for total rewards projects, and development of policies and procedures. This position interfaces with University leadership and the entire University community, interpreting federal laws and University benefit policy. The executive director ensures regulatory compliance across all benefit programs enterprise-wide The nature of the information is such that misinformation and errors will result in severe financial loss to employees and/or the University.
CORE JOB FUNCTIONS:
* Analyzes, designs, and implements benefit programs on an enterprise-wide basis, which affect employees across various levels (executive, exempt/non-exempt, union, etc.) and state locations.
*Evaluates and compares existing company benefits with those of other employers by analyzing other plans, surveys and other sources of information.
*Plans, develops, and/or participates in area and industry surveys. Analyzes results and develops specific recommendations for review by management. Identifies opportunities to ensure that employee’s total reward/benefit experiences are effective, comprehensive and meet the needs of both the employees and the University.
*Leads strategic negotiations with third party vendors, including directing the development of proposals
*Assures company compliance with provisions of Employee Retirement Income Security Act and the Affordable Care Act. Supervises preparation of reports and applications required by law to be filed with federal and state agencies, such as Internal Revenue Service, Department of Labor, insurance commissioners, and other regulatory agencies. Reviews and analyzes changes to state and federal laws pertaining to benefits, and reports necessary or suggested changes to management. Coordinates company benefits with government-sponsored programs.
*Leads major benefit initiatives from strategy, planning, design, and implementation that align with overall University business strategies.
*Recommends benefit plan and system changes to leadership.
*Collaborates with various stakeholders and University leadership in order to gain consensus regarding long-term benefit strategy.
*Leads benefit enrollment efforts, to include analysis and reporting on benefit enrollments and employee participation.
*Ensures company benefit programs are consistently administered in compliance with company policies and government regulations through appropriate audits, reports, and personal contact.
*Collaborates with stakeholders to ensure that the union and overall benefits are properly set up in a Workday environment.
*Develops census data and solicits insurance companies for quotations.
*Evaluates quotation and makes recommendations to management. Develops company cost information for new plans and makes premium cost share recommendations to management.
Implements approved new plans or changes to existing plans by drafting written communications and enrollment materials, plan summary documents, and other media for communicating plans to employees. Ensures receipt of documents and process changes with vendors. Advises and guides management and employees on existing benefits.
*Addresses benefits issues to ensure quick, equitable, courteous resolution, to include any needed service recovery.
*Develops effective strategies to encourage increase overall wellness including financial retirement accountability for faculty and staff.
*Monitors and analyzes impact of health care reform and responsible compliance with all applicable regulations.
*Leads and develops a staff of benefit professionals.
*Leads benefit initiatives, focused on, but not limited to, streamlining processes, costs, improving opportunities for University community.
*Establishes credibility with leadership and the employees with benefit related matters.
*Leads the 403(b) financial audit process to ensure adequate internal controls and audit processes are conducted timely. Responsible for developing work plan and managing retirement financial statement audit processes, compiling and reviewing annual 403(b) financial statements and footnotes and variance analysis. Ability to analyze, understand and recommend treatment for complex 403(b) accounting issues and transactions.
*Oversees administration of the Employees’ Retirement Plan benefit process to ensure benefit payments are processed accurately and on a timely basis based on the plan document and IRS regulations. Applies actuarial knowledge to retirement calculations to ensure that appropriate factors are used in figuring retirement benefits.
*Partners with Total Rewards leadership team to deploy total reward strategy for the University.
*Partners with Total Rewards leaders and HR Client Services to ensure University’s total rewards needs are being met.
Coordinates activities related to benefits in conjunction with overall total reward philosophy.
*Collaborates with overall benefit functions to establish best-practice processes for planning and developing individual goals.
*Develops and implements employee and leadership educational programs related to overall wellness including retirement/financial planning/budgeting/etc.
*Coordinates activities related to benefits in conjunction with overall total reward philosophy.
*Prepares reports and participate in special projects, committees and other activities and duties.
*Directs the coordination and dissemination of highly confidential and detailed information to faculty, staff, personal representatives, attorneys, and actuaries.
*Directs the preparation and distribution of the Total Rewards Statement for active employees and the distribution of individual deferred vested statements for terminated employees.
*Responsible for communicating with employee, alternate payee and attorneys as required under IRS regulations. Authorizes assignment of pension funds in accordance with provisions of QDRO and as permitted by the Employees’
*Retirement Plan, Faculty Retirement Plan, and Supplemental Retirement Plan.
Assists in responding to subpoenas requesting pension and life insurance information on individual employees. Appears at attorney’s offices or court proceedings, if subpoenaed.
*Leads plan document re-writes and amendments with actuaries, attorneys and appropriate University representatives in timely manner.
*Prepares government filings on timely basis for the Employees’ Retirement Plan (including PBGC filing), and 403(b) retirement plans.
*Responsible for reviews qualified Domestic Relations orders to ensure compliance with IRS regulations.
*Directs benefits operations, to include review of system benefits setups, vendor integrations and processes. Oversees the preparation of reports and special projects as requested by the Associate Vice President of Total Rewards or University leadership.
*Carries out supervisory responsibilities in accordance with the University’s policies and applicable law. Responsibilities include interviewing, hiring, and training employees; planning, assigning and directing work; appraising performance; rewarding and discipline employees; addressing and resolving problems.
Bachelor’s Degree in Business Administration, Human Resources or related field required; Master’s Degree preferred. Minimum eight (8) years of benefits experience, to include at least five years of benefits leadership experience. Benefits experience within a large organization, specifically in higher education and/or healthcare environment a plus, with emphasis on group health benefits in the self-insured markets and 403(b) plans.