Retirement Benefits Specialist

Retirement Benefits Specialist

At Devon, we will offer you a career full of energy and unmatched opportunities to solve today's greatest challenges. Innovation, creative problem-solving and positive change happen when people step out of their comfort zone and think differently. Our values, workplace practices, wellness programs, benefits and compensation are aimed at helping employees manage their unique personal life and care for their families so they can focus on contributing to the fullest.

The Retirement Benefits Specialist analyzes, interprets, and evaluates Devon Energy's retirement and pension plans to ensure comprehensive understanding of plan design, provisions, and compliance requirements. This role requires deep technical knowledge of plan structures, regulatory frameworks, and benefit calculations to identify opportunities, assess participant impacts, and provide informed recommendations supporting strategic benefits decisions. Responsibilities include supporting Investment Committee activities, conducting plan audits, and managing year-end reconciliation and true-up processes.

• Analyzes and interprets retirement benefit plan documents, provisions, amendments, regulatory requirements, and legal interpretations.
• Evaluates plan design and structure to identify compliance risks, gaps, and optimization opportunities aligned with Devon Energy objectives.
• Conducts technical analysis of retirement calculations, including service credit repurchase, withdrawals, deferred options, distributions, and actuarial valuations.
• Performs data analysis of plan experience, participant demographics, and financial performance to assess sustainability and cost implications.
• Researches regulatory developments and assesses impact on plan design, administration, and compliance.
• Conducts comparative analysis of alternative plan designs to support strategic planning and decision-making.
• Supports the Investment Committee by preparing analyses, reports, and recommendations related to plan investments, asset allocation, and fund performance.
• Analyzes investment performance data against benchmarks to inform committee discussions and strategic planning.
• Conducts or supports plan audits by coordinating with external auditors, preparing documentation, reconciling plan records, and addressing findings.
• Manages annual plan true-up processes, including reviewing contributions, benefits, and data for accuracy and plan compliance.
• Prepares detailed true-up analyses and reconciliation reports documenting adjustments and participant notifications.
• Communicates plan analysis findings and recommendations to senior leadership, the Investment Committee, plan administrators, and other stakeholders.
• Translates complex plan provisions into clear explanations for employee presentations and individual benefit consultations.
• Maintains detailed knowledge of participant records and demographics to identify trends and issues requiring further analysis.
• Coordinates with actuaries, plan administrators, legal counsel, auditors, and other professionals to support informed decision-making.
• Ensures all plan administration complies with Devon Energy policies, ERISA requirements, and IRC regulations

Experience and Education

Required

• Bachelor's degree in Business Administration, Human Resources, Finance, Accounting, or related field
• At least two years of progressive experience with retirement plan analysis, plan administration, or related benefits functions

Preferred

• Professional certification (SHRM-CP, SHRM-SCP, CEBS, or similar)
• Experience with plan audits, reconciliation, and year-end close processes
• Experience in the energy industry

Skills and Qualifications

• Strong analytical and critical thinking skills with the ability to comprehend complex plan documents.
• Thorough understanding of retirement benefits laws, regulations, ERISA compliance, and IRC requirements.
• Proficient in benefits calculations, data analysis, reconciliation, and financial modeling.
• Advanced Excel skills and proficiency with Microsoft Office Suite.
• Excellent organizational and communication skills, both written and verbal.
• Ability to work effectively with technical professionals and translate complex information for diverse audiences

Qualified applicants are considered without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, status as a protected veteran or other characteristics protected by law.

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