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Truist Defined Benefit Administrative Manager in Greensboro, North Carolina

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Regular or Temporary:

Regular

Language Fluency: English (Required)

Work Shift:

1st shift (United States of America)

Please review the following job description:

Lead the Defined Benefits Administration Team for MEBS Retirement Practice. Oversee the delivery of pension benefit services to clients and their associates, including pension benefit calculations, communications, data warehousing, participant reporting, call center, and web access.

*Hybrid Schedule*

ESSENTIAL DUTIES AND RESPONSIBILITIES

Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.

  1. Manage and lead the team of Defined Benefits Administration Specialists for the successful delivery of pension and retirement client services.

  2. Develop and update benefit calculation and administration manual work product for clients to ensure timely and accurate efficient delivery. Maintain standards and processes for Defined Benefit Plan Terminations and assist Consulting Actuaries to develop pricing of services.

  3. Develop and update work procedures related to Defined Benefits participant data administration system, including payroll processing, data validation, error checks, and client reporting. Evaluate analyst team performance and develop methods and procedures to improve efficiency, standardization, and quality control.

  4. Oversee Defined Benefits participant call center activity including metrics, recordings, wait times, and general operations.

  5. Manage projects for large benefit calculation projects such as terminations, early retirement windows, plan freezes, plan audits (Department of Labor, Pension Benefit Guaranty Corporation), etc. Oversee participant communications projects and bulk mailings.

  6. Perform preliminary reviews of benefit calculations and actuarially equivalent options.

  7. Develop and update pension administration system coding for implementing and maintaining clients. Work with internal and vendor technology teams to develop, evaluate, test, and maintain benefit plan participant and sponsor web sites.

  8. Ensure that client plans stay in compliance with required regulatory filings such as annual Form 5500 and all applicable participant notices.

  9. Coordinate with ERISA Legal Counsel to maintain, restate, and amend Defined Benefit plan documents and SPD's. Work with ERISA counsel to assist clients in correcting compliance failures through audit support and Delinquent Filer Voluntary Compliance Program (DFVCP) filing programs.

  10. Design, maintain and implement training program for Defined Benefit Administrative Specialists to ensure they have the knowledge and the ability to meet the standards of their job descriptions.

  11. Assist team in solving benefit calculation problems and other work related problems or obstacles to insure timeliness and accuracy.

  12. Maintain compliance with corporate obligations for data security, audit standards, business continuity and other internal controls.

Required Qualifications:

The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  1. Bachelor's degree or equivalent education and related training

  2. Seven years of Defined Benefit experience with a benefits consulting firm

  3. American Society of Pension Professionals and Actuaries Qualified Pension Administrator (ASPPA QPA), Certified Employee Benefits Specialist (CEBS), or equivalent benefits designation

  4. A demonstrated ability to perform the essential functions of the job

  5. Excellent math and communication skills with attention to detail

  6. Must be able to read and interpret legal documents pertinent to pension law and regulations

  7. Demonstrated proficiency of basic computer applications, such as Microsoft Office products

  8. Ability to travel, occasionally overnight

Preferred Qualifications:

  1. Prior training and organization responsibilities

  2. Prior management / supervisory experience

  3. Call Center management experience

General Description of Available Benefits for Eligible Employees of Truist Financial Corporation: All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site (https://benefits.truist.com/)

. Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.

McGriff Insurance Services supports a diverse workforce and is an Equal Opportunity Employer that does not discriminate against individuals on the basis of race, gender, color, religion, citizenship or national origin, age, sexual orientation, gender identity, disability, veteran status or other classification protected by law. McGriff Insurance Services is a Drug Free Workplace.

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