Senior Manager- Benefits

at  MFS Investment Management

At MFS, you will find a culture that supports you in doing what you do best. Our employees work together to reach better outcomes, favoring the strongest idea over the strongest individual. We put people first and demonstrate care and compassion for our community and each other. Because what we do matters – to us as valued professionals and to the millions of people and institutions who rely on us to help them build more secure and prosperous futures.

THE ROLE

As a member of the Total Rewards leadership team, the Sr. Manager- Benefits manages the Benefits team and is a key contributor to the Benefits, and ultimately Total Rewards strategies. The Sr. Manager- Benefits will be responsible for driving Global Benefits programs and services while developing appropriate communications strategies.

WHAT YOU WILL DO

• Using discretion and judgment, provides strategic direction and management of the company’s global health and welfare benefits programs, retirement plans, wellbeing programs, and related processes and policies.
• Ensures all retirement and global health and welfare benefit programs are administered in full compliance with local country regulations.
• Investigates, proposes and implements new programs, e.g. Wellness program. Develops multi-year strategic recommendations for benefit programs balancing multiple perspectives (e.g., regulatory, corporate, financial and employee perspectives).
• Hires, develops, and manages Benefits department staff which includes staff in off-site locations. Allocates and prioritizes work and makes decisions regarding employment, training, and performance appraisals.
• Develops, implements and manages efficient work processes and ensures technology is fully utilized to further enhance efficiency and quality and type of services offered. Develops Benefits staff to ensure each member is fully capable of communicating global HR benefit programs and procedures and ensure appropriate cross-training of team.
• Reviews MFS’ global benefits programs on an ongoing basis; oversees the enrollment of employees; researches, proposes and implements cost-effective changes. Develops and implements employee benefits communications strategy in collaboration with Marketing department to ensure there is a unified global benefits communication strategy. Oversees preparation of communications tools, articles, notices and other materials.
• Manages MFS’ Retirement Plans (401k, DCP, Pension); with Legal researches, proposes and implements cost-effective plan changes. Makes important retirement plan changes that have broad impact on all MFS employees. Continuously and consistently analyzes Company needs and competitor trends in Retirement Plans Administration. Coordinates efforts with outside Actuarial consultants to ensure key information is presented to the Retirement Committee so that they may make informed decisions. Manages relationship with record keeper.
• Ensures all retirement plan record keeping is in compliance with related regulations. Acts as primary liaison between the Retirement Plans area, Legal and third-party vendors to review and revise and draft plan documents, policies and procedures and ensures audit completion and compliance. Works with Legal department to facilitate plan changes.
• Manages vendor relationships (e.g., consultants, actuaries and brokers). Ensures efficient and most effective renewal of all plans and related contractual relationships. Reviews contracts with Legal Department and ensures necessary changes are made.
• Manages Leaves of Absence function in compliance with company policies and relevant local regulations. Oversees leave notification, ensuring documents are received, approves leaves, and follows up and re-certifies as necessary. Leads policy development and implementation
• Oversees the preparation of required financial reports (e.g., for retirement plans ensures discrimination testing, 5500 filings, and related requirements and communications are completed appropriately, ACA compliance reporting, etc.).
• Conducts industry benefit benchmark surveys on a periodic basis to ensure the continued competitiveness of global benefit programs.