Benefits Effectiveness Director

at  US Bank National Association

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

JOB DESCRIPTION

The Benefits Effectiveness Manager with Leadership experience will support operational efficiencies, assist with mergers, and acquisition project management, expertise of all benefits area required. Lead third party benefit vendor risk reviews CUEC’s, TPRM OGM tasks and reporting by collaborating with internal benefits managers and HR Risk. Work with consultants in the review and selection process for RFI’s RFP’s. Cost management analysis, ROI of programs by leading benefits analytics. Provide process improvement program recommendations. Experience with benefits plan regulatory requirements, global benefits experience. Manage Retirement Team with view towards efficiencies to build an agile team.

BASIC QUALIFICATIONS

• Bachelor’s degree and equivalent work experience
• Typically has 10 or more years of related experience

PREFERRED SKILLS/EXPERIENCE

• Leadership skills, experience managing staff and administering retirement programs
• Strong regulatory requirements and risk reviews knowledge and experience including ERISA, DOL and IRS guidelines
• Strong organizational effectiveness and analytical skills
• Competent understanding of benefit programs and competitive environment
• Experience working with mergers and acquisitions, emphasis on benefit plan equalization
• Knowledge of global benefits
• Demonstrated experience with reviewing annual plan tax filings: SOX, SOC1, and SOC2
• Experience with vendor contract reviews, third party vendors risk, risk management reviews, and internal and external audit reviews
• RFP/RFI and benefits plan cost analysis experience
  If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

ESSENTIAL FUNCTIONS

• The Reward area is responsible for ensuring that the bank has competitive and cost-effective reward programs, policies, and practices, developing and executing the banks reward strategy.
• Leadership experience, manage and support key benefits areas
• Fiduciary oversight of retirement programs
• Consults with third parties to develop a consistent best practice approach to align with internal TPRM requirements
• Emphasis on cost-effective programs, operationally efficient processes, and comprehensive data analytics
• Manage escalations and day to day retirement program administration and platform needs
• Delivering benefits solutions and policies in line with business strategies
• Accountable for multiple processes, programs, vendor payments, input on the department’s budget
• Routinely uses significant judgment on moderate to complex business problems
• Influences timelines, expectations, and proactively negotiates across departments and sometimes functional management to meet project deadlines and goals
• Continually collaborate with staff to build SME skills and ongoing regulatory changes
• Develop staff to meet current and long-term department needs and opportunities.
• Develop and maintain tactical and strategic relationships with peers within the department and functional areas

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That’s why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• Short-term and long-term disability
• Pregnancy disability and parental leave
• 401(k) and employer-funded retirement plan
• Paid vacation (from two to five weeks depending on salary grade and tenure)
• Up to 11 paid holiday opportunities
• Adoption assistance
• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by la