Manager, Pension Administration at Exelon

Chicago, Illinois, United States -

Full Time

Start Date

Immediate

Expiry Date

18 Jul, 26

Salary

0.0

Posted On

19 Apr, 26

Experience

10 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Pension administration, Defined benefit plans, QDRO administration, Vendor management, Project management, ERISA compliance, Internal Revenue Code, Process improvement, Customer service, Leadership, Strategic planning, Financial controls, Sarbanes-Oxley compliance, Communication skills, Analytical skills

Industry

Utilities

Description

Who We Are We're powering a cleaner, brighter future. Exelon is leading the energy transformation, and we're calling all problem solvers, innovators, community builders and change makers. Work with us to deliver solutions that make our diverse cities and communities stronger, healthier and more resilient. We're powered by purpose-driven people like you who believe in being inclusive and creative, and value safety, innovation, integrity and community service. We are a Fortune 200 company, 20,000 colleagues strong serving more than 10.7 million customers at six energy companies -- 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). We're committed to creating an environment where every person can thrive. Our employee experience is grounded in four tenets that guide how we support our people: purposeful careers, growth opportunities, community impact, and support to thrive. In our relentless pursuit of excellence, we elevate diverse voices, fresh perspectives and bold thinking. And since we know transforming the future of energy is hard work, we provide competitive compensation, incentives, excellent benefits and the opportunity to build a rewarding career. Are you in? Primary Purpose Responsible for the administration of the company's qualified and nonqualified defined benefit pension plans, including QDRO administration and serves as the subject matter expert in these areas. Works directly with third party administrators (TPA) related to delivery of Pension and QDRO administration. Acts as a primary company representative and liaison with internal clients and external Pension/QDRO vendors to ensure a high level of customer satisfaction and cost savings across Exelon. Understands the end-to-end process and creates/designs new processes. Works directly with plan administrators to resolve plan, policy or ERISA appeal issues. Primary Duties Administer the company's qualified and nonqualified benefit retirement plans and serves as the subject matter expert on all retirement plans. (30%) Manage and directs TPA and monitors compliance with contractual performance standards. (20%) Evaluate and interpret plan documents, procedures, and contracts related to Pension/QRDO to ensure company and legal compliance as governed by ERISA, the Internal Revenue Code and Department of Labor. (10%) Identify, develop, and implement process improvements to ensure service levels and customer satisfaction are met. (20%) Manage the delivery of the annual pension statements, any retiree cost of living adjustments and funding instructions of the pension plan checking accounts. (10%) Identify controls to ensure compliance with Sarbanes-Oxley. Self audits and monitors operations to ensure controls are operating as designed. (10%) Job Scope Responsible for 2 to 4 direct management and 10 or more indirect management (external vendors). Work efforts impact budget if plans are administered outside of Exelon plan documents. Significant independent decision-making opportunities and responsible for setting operational direction. Interaction with company executives to clarify retirement benefits, as required. Operates independently with little or no supervision. Minimum Qualifications Bachelors Degree and 7-10 years of Pension administration experience. In lieu of degree, 9-12 years of relevant experience. Solid project management skills. Proven ability in vendor management. Excellent customer service skills, strong communications skills, and solid project management skills. Understanding of defined contribution retirement plans as well as QDRO administration. Ability to work well in project environment. Makes decisions based on analysis of relevant information including plan documents, problems, root cause analysis, priorities, critical issues, and alternatives. Works with others to achieve common goals that result in more than what could be done individually. Applies sound management principles to maintain work flow, create change and shift paradigms. Strong leader with ability to motivate others to work toward a shared business vision; balance priorities; leadership approach that emphasizes visibility, employee development, communications and trust. Advanced skills in accountability, ownership and a strong sense of urgency in responding to customers. Knowledge of applicable laws and regulations. Preferred Qualifications Certified Employee Benefits Specialist. Experienced TPA work in defined benefit/defined contribution. Experience completing complex pension calculations, qualified and nonqualified. Experience and success in building co-operative business relationships with employee representatives. Ability to work co-operatively and synergistically with other managers to achieve service center business goals. 3-5 years of supervisory experience. Benefits Annual salary will vary based on a candidate’s skills, qualifications, experience, and other factors: $109,600.00/Yr. – $150,700.00/Yr. Annual Bonus for eligible positions: 20% 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.

Responsibilities

The manager is responsible for the administration of qualified and nonqualified defined benefit pension plans and serves as the primary subject matter expert. They manage third-party administrators, ensure legal compliance with ERISA and the Internal Revenue Code, and drive process improvements.