Senior Benefits Manager

Position summary

This position is responsible for the direction, overall management and administration of the US employee benefit plans. The Senior Benefits Manager is responsible for monitoring new laws and regulations as they pertain to employee benefits. The Senior Benefits Manager will work closely with the Firm's Retirement Committee and other Firm Management to assure that legal, technical, and ethical requirements are met.

Job duties and responsibilities

• Evaluate, develop, propose, and implement employee benefits strategy and plan designs that support US partners and employees and the long-term business strategy, as well as ensure compliance with all laws and regulations.
• Monitor and analyze employee benefit practices, review benchmarking data and trends to ensure that benefit plans are competitive, cost-effective and enable the Firm to attract and retain employees.
• Manage annual benefit renewal process evaluating and analyzing the renewals as presented by consultants, vendors, and brokers. Responsible for all health and welfare benefit programs including medical, dental, vision, life, STD, LTD, HSA, FSA, and voluntary benefits.
• Work with benefit consultants and HR Director to make recommendations to senior management team on open enrollment benefit decisions including plan design changes, additions, cost projections, Firm and employee cost impact and future considerations.
• Manage and ensure the Firm's annual benefit open enrollment process is completed accurately and timely, including programming and testing of thet benefit administration system.
• Develop and deliver educational materials, presentations, and communication strategies to enhance employee understanding of benefit offerings.
• Financial responsibility for the Benefits Trust and checking account including processing deposits, transfers and withdrawals, paying invoices and reconciling bank records.
• Conduct budgeting and financial analysis of employee benefits programs. Monitor high-cost claims and target problem claims areas. Ensure accurate estimates, forecasts, and calculations of expenditures in benefits for budget planning and tracking.
• Manage ancillary benefit programs including Lyra Health EAP, Carrot family forming benefit, and Bright Horizons backup childcare.
• Collaborate with non-US HR personnel to develop and implement benefit programs to be offered globally.
• Manage vendors responsible for the day-to-day administration of the benefit programs including the self-insured medical and disability plans.
• Ensure plans meet requirements and statutory compliance with ACA, FMLA, ADA, COBRA, ERISA, and HIPAA legislation.
• Responsible for administration of all leave of absence programs, including FMLA, short and long-term disability, parental leave, workers compensation and ADA.
• Plan manager for the 401(k) Plan, Cash Balance Retirement Plan and Partners Deferred Allocation Plan. Ensure retirement plans are administered in accordance with plan documents and federal guidelines and regulations. Ad hoc member of the Firm's Retirement Committee.
• Responsible for determining eligibility for the 401(k) Plan, explaining plan provisions, calculating employer contributions, and funding contributions.
• Responsible for explaining provisions of the Cash Balance Retirement Plan and Partners Deferred Allocation Plan. Manage enrollments in the plans, request and maintain participant elections, and calculate and fund contributions.
• Manage the Cash Balance Retirement Plan distribution process and annuity payments including preparation of benefit packets, finalizing amounts, and preparing authorization instructions for plan trustee and investment manager.
• Compile census data for the annual non-discrimination testing of the 401(k) and Cash Balance Retirement Plans.
• Collaborate with the consultants, actuaries, trustees, record-keepers, and investment managers on the administration of the retirement plans.
• Responsible for government reporting for health and welfare plan and retirement plans with federal and state agencies including the Internal Revenue Service, Department of Labor, PBGC and other regulatory agencies.
• Work with external and internal auditors and finance personnel on the annual audit of health and welfare and retirement plans. Responsible for managin the 5500 filing process.
• Collaborate with internal stakeholders such as HR, Finance and Payroll to ensure seamless integration and processing of benefit administration activities.
• Responsible for management of the systems and technology to support the benefit plans.
• Responsible for content, maintenance, and updates to Firm's intranet benefit website.
• Manages benefit staff by coaching, counseling, and mentoring employees.
• Travel for meetings and training as required.

Job duties and responsibilities included are not exhaustive and may be supplemented as necessary. Reed Smith reserves the right to revise or modify job duties and responsibilities at any time.

Requirements

Education

Undergraduate degree required; CEBS certification highly preferred.

Experience

Familiarity with all aspects of employee benefit matters. 10+ years of employee benefit manager experience required.

Skills

Ability to interact with all levels of management and staff personnel. Strong leadership, management, communication and writing skills.

Additional information

Supervisory responsibilities

Supervise 3 benefits staff.

Equipment used

Personal computer and other office equipment such as telephone, calculator, copier, scanner, etc.

Essential job functions

• Ability to sit or stand for extended periods and perform tasks requiring prolonged and/or extensive computer use.
• Ability to use computers, telecommunications, and digital collaboration tools to perform core job responsibilities.
• Ability to communicate effectively.
• Ability to maintain attention to detail while analyzing complex information, managing multiple priorities, and applying sound judgment to strategic decisions.
• Ability to access, use, and safeguard confidential and sensitive information while performing job responsibilities in work environments that support confidentiality, privacy, and information security requirements.
• Travel for meetings and training as required.
• Ability to work extended hours as required to meet project, client, or business needs.
• Ability to provide off-hours support and coverage, including evenings, weekends, and holidays, to support business needs.

Working conditions

You will be required to work in the office at minimum 4 days per week. Occasionally called upon to work hours in excess of your normal daily schedule. The details of your weekly schedule will be discussed further with your direct supervisor.

Pay ranges

This represents the presently anticipated low and high end of Reed Smith's pay range for this position. Actual pay may vary based on various factors, including but not limited to location and experience.

Pittsburgh: $160,000 - $185,000

Employee benefits overview

Our comprehensive benefits package includes:

• 401(k) Retirement Plan
• Medical Insurance
• Health Savings Account (HSA)
• Virtual Health Services
• Dental Insurance
• Vision Insurance
• Accident Insurance
• Hospital Indemnity Insurance
• Critical Illness Insurance
• Life Insurance
• Short-Term Disability Coverage
• Long-Term Disability Coverage
• Flexible Spending Accounts (FSA)
• Lyra Health Employee Assistance Program (EAP)
• Paid Family Leave (for eligible Exempt and Non-Exempt staff)
• Transportation Benefit
• Back-up Child Care Services
• College Coach Program
• Pet Insurance
• Paid Sick Time (for Exempt staff)
• Paid Time Off (available to all full-time, non-temporary employees)

Reed Smith offers a challenging work environment, business casual dress code and a total compensation package that includes a competitive salary, flexible benefits program, tuition assistance, and generous 401(k) plan.

Reed Smith is an Equal Opportunity Employer with Core Values of Integrity, Excellence, Teamwork & Respect, Innovation, and Impact. Reed Smith also provides reasonable accommodations in accordance with law, including in the application and interview process.

Qualified candidates only. No search firms.