Pension Admin. Lead Analyst (hybrid/Bannockburn, IL)

Aon; Severn; Hybrid; USD 70,000 - 75,000; Full time

Job summary

An established industry player is seeking a Pension Administration Team Lead Analyst to join their dynamic team. This hybrid role offers the flexibility to work from home while leading a team responsible for providing exceptional defined benefit administrative services. You will play a crucial role in ensuring accuracy in benefit calculations, mentoring team members, and collaborating on special projects. With a comprehensive benefits package and a commitment to diversity and inclusion, this organization fosters a supportive environment where your contributions are valued. If you are passionate about making a difference and have the expertise in defined benefits, this opportunity is perfect for you.

Benefits

401(k) Savings Plan

Employee Stock Purchase Plan

Medical Insurance

Dental Insurance

Vision Insurance

Paid Time Off

Tuition Assistance

Employee Assistance Program

Flexible Work Options

Global Wellbeing Days

Qualifications

• Experience with Defined Benefits and pension plan provisions.
• Strong analytical skills and attention to detail in calculations.

Responsibilities

• Lead the Pension Administration team in benefit calculations.
• Ensure accuracy and quality of system-generated calculations.

Skills

Defined Benefits Knowledge

Benefit Calculations

Excel

Coaching Skills

DBCalc Tools

Education

Undergraduate Degree

Tools

DBCalc

PenProPlus

Access

Job description

Do you have Defined Benefits experience? Do you enjoy working in an collaborative and dynamic environment?

The Team Lead Analyst role is hybrid with the flexibility to work from home and your aligned office in Bannockburn, IL.

Aon is in the business of better decisions

At Aon, we shape decisions for the better to protect and enrich the lives of people around the world.

As an organization, we are united through trust as one inclusive, diverse team, and we are passionate about helping our colleagues and clients succeed.

What the day will look like:

As a Pension Administration Team Lead Analyst, the qualified applicant will be working as part of the Pension Administration group, which is responsible for providing defined beneft administrative services to clients and responsible for assisting with special projects and acting as a mentor and role model.

Daily Responsibilities:

• Benefit Calculations, Defined Benefits, and Plan Provisions Knowledge
• Understand advanced Defined Benefit principles and legislation
• Understanding of clients' pension plan provisions, data, and DBCalc/PenProPlus system to train and coach teammates
• Performs both first and second checks of calculations
• Ensures accuracy and quality of system-generated calculations and communication statements
• Assists the Project Manager in the development of the Requirements Document for new implementations or ongoing client updates
• Ability to read and understand legal plan document and identify inconsistencies with Requirements
• Reviews Requirements and other documentation in the database
• Ability to update Requirements document based on administrative changes, legislative updates, etc.
• Incorporates understanding of Plan document, Defined Benefits knowledge
• Understands and applies concepts of Actuarial Equivalence
• Acts as a resource for the team
• Performs manual intervention
• Consults with client and/or actuary on non-standard benefit calculations, special programs or projects, and other administrative requests
• Identifies and documents any unusual aspects of calculations
• Monitors client team to ensure all calculations are completed within set timeframes
• Monitors "on hold" calculations to ensure timely follow-up and completion
• Ability to complete more complicated non-standard calculations

Colleague Coaching

• Acts as a team resource for clients' Events Requirements and standard ongoing processes, processing of payments and leads monthly payment reconciliation process, 2nd check payment entry
• Identifies and researches data questions or edits and responds to and manages other participant inquiries
• Assists Project Manager with special projects
• Leads clients' special projects
• Documents outlining annual events, processes, and unique situations in client databases

Skills and experience that will lead to success:

• Undergraduate degree or equivalent experience
• Strong spreadsheet knowledge (i.e., Excel)
• Basic database knowledge preferred but not required (i.e., Access)
• Defined Benefit technical knowledge
• Actively participates in and leads trainings
• Coaching for team members
• Understands Excel and Access tools
• Strong command of DBCalc tools, DBAdmin, YPR and CalcsLog or PenProPlus
• Understands client's dataload process and principles of testing
• Facilitates the maintenance and update of all systems

How We Support Our Colleagues:

Aon offers a comprehensive package of benefits for full-time and regular part-time colleagues, including, but not limited to: a 401(k) savings plan with employer contributions; an employee stock purchase plan; consideration for long-term incentive awards at Aon's discretion; medical, dental and vision insurance, various types of leaves of absence, paid time off, including 12 paid holidays throughout the calendar year, 15 days of paid vacation per year, paid sick leave as provided under state and local paid sick leave laws, short-term disability and optional long-term disability, health savings account, health care and dependent care reimbursement accounts, employee and dependent life insurance and supplemental life and AD&D insurance; optional personal insurance policies, adoption assistance, tuition assistance, commuter benefits, and an employee assistance program that includes free counseling sessions. Eligibility for benefits is governed by the applicable plan documents and policies.

The salary range for this position (intended for U.S. applicants) is $70,000-$75,000 annually. The actual salary will vary based on applicant's education, experience, skills, and abilities, as well as internal equity and alignment with market data. The salary may also be adjusted based on applicant's geographic location.

In addition to our comprehensive benefits package, we encourage a diverse workforce. Plus, our agile, inclusive environment allows you to manage your wellbeing and work/life balance, ensuring you can be your best self at Aon. Furthermore, all colleagues enjoy two "Global Wellbeing Days" each year, encouraging you to take time to focus on yourself. We offer a variety of working style solutions, but we also recognize that flexibility goes beyond just the place of work... and we are all for it. We call this Smart Working!

Our continuous learning culture inspires and equips you to learn, share and grow, helping you achieve your fullest potential. As a result, at Aon, you are more connected, more relevant, and more valued.

Aon values an innovative, diverse workplace where all colleagues feel empowered to be their authentic selves. Aon is proud to be an equal opportunity workplace.

Aon provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, veteran, marital, domestic partner status, or other legally protected status. Aon is committed to a diverse workforce and is an affirmative action employer. People with criminal histories are encouraged to apply.

We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation on [e-mail]

Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.

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