SVP, Plan Administration – Office of Employee Benefits

Federal Reserve Bank Of Atlanta; Newark (NJ); On-site; USD 100,000 - 150,000; Full time

Job summary

A national financial institution in Newark, NJ, is seeking a senior leader to manage and oversee benefits programs for its employees and retirees. The role includes leading a team, ensuring compliance with regulations, and establishing strategic goals aligned with the organization’s objectives. Ideal candidates will have experience in benefits program design, exceptional communication skills, and a commitment to integrity. This full-time position requires on-site presence and offers the opportunity to influence employee benefit programs across a significant system.

Qualifications

• Comprehensive experience in benefits program design and administration.
• Strong skills in negotiation, facilitation, and relationship-building.
• Commitment to integrity and high ethical standards.

Responsibilities

• Lead a team in managing defined contribution and benefit plans.
• Establish strategic goals aligning with FRS benefits strategy.
• Ensure compliance with IRS regulations and benefit plan design.

Skills

Negotiation

Communication

Relationship-building

People management

Project management

Education

Master's degree in Finance or Accounting preferred

Qualified Pension Administrator (QPA)

Certified Employee Benefits Specialist (CEBS)

Job description

Company

Federal Reserve Bank of Atlanta

The Federal Reserve Bank of Atlanta (Bank) serves the Sixth Federal Reserve District, which covers Alabama, Florida, and Georgia, and parts of Louisiana, Mississippi, and Tennessee. The Bank has branches in Birmingham, Jacksonville, Miami, Nashville, and New Orleans. The Bank is a vital component of the nation’s central banking system which is responsible for promoting the stability and efficiency of the U.S. economy and financial system. The Bank s work has far-reaching impacts, influencing the economy of the Southeast region, the United States, and the global economy.

Located in Newark, New Jersey, The Office of Employee Benefits (OEB), is a national, shared service provider domiciled within the Federal Reserve Bank of Atlanta. The OEB manages the wide variety of benefits programs for the twelve regional Federal Reserve Banks (Federal Reserve System or FRS), the Board of Governors of the Federal Reserve, and the Consumer Finance Protection Bureau. The OEB designs, implements, and administers of various benefits programs for approximately 45,000 System employees, retirees, and their beneficiaries. The Federal Reserve System places tremendous value in attracting, motivating, retaining and engaging employees through its comprehensive benefits programs. The OEB provides leadership in formulating and operating these programs that provide meaningful benefits to meet both the professional and personal needs of our employees. Among the benefit programs managed by the OEB:

Defined-Benefit Retirement Plan
Thrift Savings Defined-Contribution Plan (401k)
Health and Wellness Programs
Long-term Disability Programs
Various Executive Benefits Options
Voluntary Insurance Plans, including Personal Accident, Business Travel,
and Group Universal Life
Other Voluntary Benefits

The OEB is comprised of approximately 50 staff members who specialize in areas of asset management, health and welfare, information technology, plan administration, finance and accounting, legal and compliance, and communications and education.

OEB staff and management value open communication, integrity, teamwork, and respect. The OEB works with senior Federal Reserve System and affiliated management and human resources professionals on an ongoing basis to review existing benefits and analyze emerging trends and new benefits opportunities. In carrying out its mission, the OEB manages an extensive network of external vendors.

Interested candidates, please express interest by providing your resume to the email address listed here:

The Office of Employee Benefits (OEB) plays a crucial role in administering the Federal Reserve System’s comprehensive benefits programs, supporting the broader benefits strategy. This position will be based out of the Newark office, and candidates must reside within a reasonable commuting distance. On-site presence is required, along with occasional travel to the Atlanta Bank and other Federal Reserve System locations to engage with oversight committees and stakeholders.

KEY RELATIONSHIPS
Direct reports:

• Staff of approximately 6-9 team members (comprised of an Assistant Vice President of Retirement Plans, Benefits Analysts, Consultants, and Manager)

Other key relationships:

• President and Chief Executive Officer, Federal Reserve Bank of Atlanta
• OEB Senior Leadership Team (Senior Vice President of Health and Welfare Communications, Senior Vice President and OEB Chief Counsel, Senior Vice President and Chief Investment Officer, Senior Vice President and Chief Technology Officer, Executive Vice President and Executive Director, OEB Budget Committee, OEB Risk Management Committee)
• Executive Leadership Committee, Federal Reserve Bank of Atlanta
• Internal Audit, Federal Reserve Bank of Atlanta
• Stakeholder Committees and Other FRS Groups (Administrative Committee (Fiduciary Committee), People Committee, Committee on Investment Performance, Subcommittee on Human Resources, Board of Governors and Reserve Bank Operations and Payments Systems, Payroll Group Leadership)
• External Business Partners (Plan Actuary, Plan Trustee, Plan Recordkeepers, Financial Auditors)

KEY RESPONSIBILITIES

• Lead team of benefits professionals responsible for the operation and administration of the Federal Reserve System s qualified and non-qualified defined contribution plans, defined benefits plans and senior executive plans that include employees and retirees of the 12 Reserve Banks, the Board of Governors and the Consumer Financial Protection Bureau
• Establish strategic goals for the Plan Administration team and Office that align with the overarching FRS benefits strategy and mission and goals of the OEB
• Achieve long-term results by providing strategic direction, evaluating benefit trends and the environmental landscape in recommending benefit plan design and enhancements. Communicate developments in the benefits marketplace, leverage information to make informed strategic recommendations, and make vendor recommendations as appropriate
• Accountability for compliance with IRS rules documentation governing qualified and non-qualified plans
• Research and respond to complex participant issues and appeals
• Direct activities related to procurement, audits and vendor management for the benefits plans
• Establish and manage relationships with stakeholders, external consultants and vendor partners involved in benefits plan operations and administration
• Provide oversight, strategic direction and development opportunities for other People Leaders and experienced professionals
• Advise, educate and influence others cross-functionally within the OEB and across the FRS and on topics including plan design, new benefit programs, regulatory changes and related policies
• Serve as a member of the OEB s Senior Leadership Team including service on the OEB s Budget Committee and Risk Management Committee

IDEAL EXPERIENCE

• Comprehensive experience in benefits program design and administration, with a thorough understanding of assigned benefits plans
• Proven track record as a senior-level officer in Benefits Plan Administration
• Strong skills in negotiation, facilitation, communication, influence, and relationship-building
• Exceptional people management abilities, demonstrating inspirational leadership and a proven capacity to coach and develop high-performing, diverse teams
• Commitment to the highest level of personal and professional integrity, instilling these values within the team
• Excellent business management capabilities, including strategic planning, project management, and financial oversight
• Technical aptitude to assess complex automation and information security needs, risks, and solutions, with a keen focus on data security due to the sensitive nature of the information managed
• Outstanding interpersonal, written, and verbal communication skills
• Highly credible leadership with extensive functional expertise in employee benefits and significant knowledge of products
• Resilience in overcoming challenges related to program development and administration
• In-depth understanding of innovative approaches to employee benefits across industries, with the ability to identify and leverage effective strategies
• Master s degree in Finance or Accounting is preferred but not required. Actuarial experience is a plus. Additional valuable credentials include Qualified Pension Administrator (QPA), Certified Employee Benefits Specialist (CEBS), and experience with federal benefit programs such as retirement plans, health and wellness plans, and familiarity with Office of Personnel Management (OPM).
• No specific years of experience are required, candidates with real-world, practical experience will be highly valued

CRITICAL LEADERSHIP CAPABILITIES

• Driving Results

• Reflects a strategic mindset, needs, and thinking of own function or other functions
• Educates other functionally focused employees on business concerns
• Responds to business leaders when asked and adds value in business terms, ensuring accountability
• Demonstrates courage in decision-making, prioritizing the quality of choices made

Collaborating and Influencing

• Interpersonal savvy, collaborates across multiple parties
• Identifies and meets with key players and stakeholders to facilitate consensus decision-making
• Builds a network prioritizes important organizational relationships
• Provent record of identifying talent and leadership potential and of developing talent that talent to the organization s benefit.

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change (e.g. emergencies, rush jobs, change in workload or technological developments).

The Federal Reserve Bank of Atlanta is an equal opportunity employer.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Human Resources Family Group

Work Shift

First (United States of America)

The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

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