Sr Manager Benefit Plans & Programs

Exelon; Chicago (IL); Hybrid; USD 136,000 - 187,000; Full time

Benefits offered by this job

Annual salary + LTIP

25% annual bonus

401(k) match

Medical, dental and vision insurance

Life and disability insurance

Generous paid time off

Employee Assistance Program

Wellbeing programs

Tuition reimbursement

Referral bonus

Job summary

Exelon is seeking a senior leader to oversee employee benefits strategy, plan design, communications and compliance for retirement and health and welfare programs, plus PTO. You'll partner with labor relations, finance, and HR to deliver timely updates and ensure plans align with company goals.

This hybrid Chicago role requires in-office presence three days a week. You will influence bargaining proposals, vendor management, budgeting, and change management, ensuring regulatory compliance and

Qualifications

• 4-year degree with a minimum of 10 to 12 years of benefits experience.
• 3 years of supervisor experience, project management lead or cross functional experience.
• Strong experience in financial and strategic consulting for either health and welfare or retirement plans, preferably both.
• Strong leader with the ability to motivate others to work toward a shared business vision.
• Strong communication skills to ensure information to key stakeholders as well as employees is delivered, received, understood, and results in action if require.
• Proven ability in complex project management and ability to move difficult projects forward without direction.
• Understanding of general benefits regulations (eg: ERISA, HIPAA) and ability to research and navigate regulations when a compliance issue needs to be addressed.
• Ability to learn and apply knowledge as needed around complex plan design variations for different employee groups.

Responsibilities

• Analyze benefits costs and support development of company multi-year budget and pension/retiree medical valuations.
• Stay current with the benefits market to determine employee needs, current trends, regulations, and best practices.
• Develops company bargaining proposals for employee benefits and analyzes union benefits proposals.
• Conducts benefit planning and strategy development.
• Oversees vendor relationships and vendor marketplace evaluations, in collaboration with benefits administration team.
• Support communications colleagues in benefit communications and change management plans.

Skills

Benefits strategy

Budgeting and financial analysis

Vendor management

Leadership

Stakeholder communication

Project management

Education

4-year degree

MBA or advanced degree

Job description

Who We Are

Exelon is helping build a more affordable, reliable energy future for the communities we serve. We're looking for people who are ready to make a difference and work together to deliver the energy our customers count on every day.

Who We Are

Exelon is helping build a more affordable, reliable energy future for the communities we serve. We're looking for people who are ready to make a difference and work together to deliver the energy our customers count on every day. As a Fortune 200 company and one of the nation's largest utility companies, we have more than 20,000 colleagues who serve nearly 11 million customers through six fully regulated utilities - Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). Exelon is built by people who put safety first, work together to solve problems and show up every day for our customers and communities. We believe strong teams are built on trust, respect and a shared commitment to high-performance culture. And our commitment to employees includes creating an environment where people can grow, develop new skills and build thriving careers. We know this work isn't easy. That's why we offer competitive compensation, incentives, excellent benefits and the opportunity to build a rewarding career. No matter your role, you will be part of a team that is committed to making a difference, improving how we work and delivering for the people who depend on us. Are you on for the challenge?

Primary Purpose

Key manager for team that leads employee benefits strategy, plan design, communications and compliance activities for retirement and health and welfare plans, as well as paid time-off programs. Supports labor relations team on negotiated employee benefit issues and consults with senior leadership, management, human resources, and legal partners, to deliver timely updates on benefit plans and programs. Supports finance team on development of multi-year budgets, audits, cost monitoring, as well as manage other special projects as assigned, including business transactions. Supports benefits administration team for complex questions, benefit or vendor change implementations and vendor management.

Note: This is a hybrid position (in-office with remote flexibility).

Employees are required to be in office at least three days per week (Tuesday, Wednesday, and Thursday).

This role is only open in our Chicago Headquarters office. No relocation is available/offered.

Primary Duties

• Analyze benefits costs and support development of company multi-year budget and pension/retiree medical valuations. Monitor how plans are performing compared to budget. Analyze the financial and operational impact of proposed changes to health and welfare, retirement, leave and other benefits. (20%)
• Stay current with the benefits market to determine employee needs, current trends, regulations, and best practices. Evaluate and compare existing company benefits with those of other employers by analyzing other plans, surveys, and other sources of information, and participate in area and industry surveys. Review potential new regulations for company plan impacts. Take action if a benefit plan or program is not providing the desired strategy results or not operating in compliance. Develops company bargaining proposals for employee benefits and analyzes union benefits (20%)
• Develops company bargaining proposals for employee benefits and analyzes union benefits proposals. Obtain and prepare cost data for company and union proposals and final settlements. (25%)
• Conducts benefit planning and strategy development. Builds out proposed adjustments to the benefits plans and programs to remain competitive and to meet varied customer and company goals, applying attention to detail to ensure risks, employee impacts and costs are adequately reviewed for any change proposals. (20%)
• Oversees vendor relationships and vendor marketplace evaluations, in collaboration with benefits administration team, including careful review of contracts, statements of work and change orders from benefits vendors and consultants to ensure negotiated terms are captured and prices are appropriate. (10%)
• Support communications colleagues in benefit communications and change management plans. (5%)

Job Scope

Reports to the Director, Benefit Strategy & Administration. Must be able to work independently and use good judgement on what decisions require supervisor or leadership input.

Minimum Qualifications

• 4-year degree with a minimum of 10 to 12 years of benefits experience
• 3 years of supervisor experience, project management lead or cross functional experience
• Strong experience in financial and strategic consulting for either health and welfare or retirement plans, preferably both
• Strong leader with the ability to motivate others to work toward a shared business vision
• Strong communication skills to ensure information to key stakeholders as well as employees is delivered, received, understood, and results in action if require
• Proven ability in complex project management and ability to move difficult projects forward without direction
• Understanding of general benefits regulations (eg: ERISA, HIPAA) and ability to research and navigate regulations when a compliance issue needs to be addressed
• Ability to learn and apply knowledge as needed around complex plan design variations for different employee groups.

Preferred Qualifications

• Masters of Business Administration or an Advanced degree or credentials in related field or employee benefits certification.

Benefits

• Annual salary will vary based on a candidate’s skills, qualifications, experience, and other factors: $136,000.00/Yr. – $187,000.00/Yr. plus an additional $25K in Long Term Incentive Plan annually.
• Annual Bonus for eligible positions: 25%
• 401(k) match and annual company contribution
• Medical, dental and vision insurance
• Life and disability insurance
• Generous paid time off options, including vacation, sick time, floating and fixed holidays, maternity leave and bonding/primary caregiver leave or parental leave
• Employee Assistance Program and resources for mental and emotional support
• Wellbeing programs such as tuition reimbursement, adoption and surrogacy assistance and fitness reimbursement
• Referral bonus program
• And much more

Note: Exelon-sponsored compensation and benefit programs may vary or not apply based on length of service, job grade, job classification or represented status. Eligibility will be determined by the written plan or program documents.