Job 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 and defined contribution (401(k) and Deferred Compensation) plans, including QDRO administration. Serves as the subject matter expert in these areas. Works directly with third party administrators (TPA) related to delivery of Pension, 401(k) and QDRO administration. Supports Manager in role of primary company representative and liaison with internal clients and external Pension/401(k)/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. Individual works directly with the Retirement Plans Manager to resolve plan, policy or ERISA appeal issues. Also, supports 401(k) and Deferred Compensation Plan administration, working directly with the TPA and supporting the Manager in the administration of the defined contribution plans and as a subject matter expert in this area.
Primary Duties:
- Supports the administration of the company's qualified and nonqualified defined benefit and defined contribution benefit plans and serves as the subject matter expert on all retirement plans as well as supporting the defined contribution plans (50%)
- Supports the management of the TPA and monitors compliance with contractual performance standards (15%)
- Evaluate and interpret plan documents, procedures, and contracts related to Pension/401k/Deferred Compensation/QRDOs 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. (5%)
- Primary support for delivery of the pension and 401k annual updates, delivery of actuarial data, any retiree cost of living adjustments and funding instructions of the pension plan checking accounts and funding of the 401k plan trustee and accounts. (15%)
- Identify controls to ensure compliance with Sarbanes-Oxley. Self audits and monitors operations to ensure controls are operating as designed. (5%)
Job Scope:
- 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.
- Excellent interpersonal skills and ability to work in a team environment.
- Ability for independent decision-making and strong analytical skills required.
Minimum Qualifications:
- 4-year degree in business, HR, or related field or 6 to 9 years of related experience
- Minimum of 4 to 7 years in Pension or 401k administration or corporate benefits
- Project management experience and skill set.
- Proven ability in vendor management
- Ability to analyze and summarize data and prepare solutions for management review
- Excellent excel and data analysis skills and strong attention to detail
- 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.
- 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, both qualified and nonqualified.
- Experience and success in building co-operative business relationships with employee representatives.
Benefits:
- Annual salary will vary based on a candidate’s skills, qualifications, experience, and other factors: $91,200.00/Yr. – $125,400.00/Yr.
- Annual Bonus for eligible positions: 15%
- 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.
Job Tags
Full time