Note: This is a hybrid position (in-office with remote flexibility). Employees are required to be in office at least three days per week (Tuesday, Wednesday, and Thursday).
This role is only open in our Chicago Headquarters office. No relocation is available/offered.
Primary Duties
Analyze benefits costs and support development of company multi-year budget and pension/retiree medical valuations. Monitor how plans are performing compared to budget. Analyze the financial and operational impact of proposed changes to health and welfare, retirement, leave and other benefits. (20%)
Stay current with the benefits market to determine employee needs, current trends, regulations, and best practices. Evaluate and compare existing company benefits with those of other employers by analyzing other plans, surveys, and other sources of information, and participate in area and industry surveys. Review potential new regulations for company plan impacts. Take action if a benefit plan or program is not providing the desired strategy results or not operating in compliance. Develops company bargaining proposals for employee benefits and analyzes union benefits (20%)
Develops company bargaining proposals for employee benefits and analyzes union benefits proposals. Obtain and prepare cost data for company and union proposals and final settlements. (25%)
Conducts benefit planning and strategy development. Builds out proposed adjustments to the benefits plans and programs to remain competitive and to meet varied customer and company goals, applying attention to detail to ensure risks, employee impacts and costs are adequately reviewed for any change proposals. (20%)
Oversees vendor relationships and vendor marketplace evaluations, in collaboration with benefits administration team, including careful review of contracts, statements of work and change orders from benefits vendors and consultants to ensure negotiated terms are captured and prices are appropriate. (10%)
Support communications colleagues in benefit communications and change management plans. (5%)
Job Scope
Reports to the Director, Benefit Strategy & Administration. Must be able to work independently and use good judgement on what decisions require supervisor or leadership input.
Minimum Qualifications
4-year degree with a minimum of 10 to 12 years of benefits experience
3 years of supervisor experience, project management lead or cross functional experience
Strong experience in financial and strategic consulting for either health and welfare or retirement plans, preferably both
Strong leader with the ability to motivate others to work toward a shared business vision
Strong communication skills to ensure information to key stakeholders as well as employees is delivered, received, understood, and results in action if require
Proven ability in complex project management and ability to move difficult projects forward without direction
Understanding of general benefits regulations (eg: ERISA, HIPAA) and ability to research and navigate regulations when a compliance issue needs to be addressed
Ability to learn and apply knowledge as needed around complex plan design variations for different employee groups.
Preferred Qualifications
Masters of Business Administration or an Advanced degree or credentials in related field or employee benefits certification.
Benefits
Annual salary will vary based on a candidate’s skills, qualifications, experience, and other factors: $136,000.00/Yr. – $187,000.00/Yr. plus an additional $25K in Long Term Incentive Plan annually.
Annual Bonus for eligible positions: 25%
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.
Analyze benefits costs and support development of company multi-year budget and pension/retiree medical valuations. Monitor how plans are performing compared to budget. Analyze the financial and operational impact of proposed changes to health and welfare, retirement, leave and other benefits. (20%)
Stay current with the benefits market to determine employee needs, current trends, regulations, and best practices. Evaluate and compare existing company benefits with those of other employers by analyzing other plans, surveys, and other sources of information, and participate in area and industry surveys. Review potential new regulations for company plan impacts. Take action if a benefit plan or program is not providing the desired strategy results or not operating in compliance. Develops company bargaining proposals for employee benefits and analyzes union benefits (20%)
Develops company bargaining proposals for employee benefits and analyzes union benefits proposals. Obtain and prepare cost data for company and union proposals and final settlements. (25%)
Conducts benefit planning and strategy development. Builds out proposed adjustments to the benefits plans and programs to remain competitive and to meet varied customer and company goals, applying attention to detail to ensure risks, employee impacts and costs are adequately reviewed for any change proposals. (20%)
Oversees vendor relationships and vendor marketplace evaluations, in collaboration with benefits administration team, including careful review of contracts, statements of work and change orders from benefits vendors and consultants to ensure negotiated terms are captured and prices are appropriate. (10%)
Support communications colleagues in benefit communications and change management plans. (5%)
4-year degree with a minimum of 10 to 12 years of benefits experience
3 years of supervisor experience, project management lead or cross functional experience
Strong experience in financial and strategic consulting for either health and welfare or retirement plans, preferably both
Strong leader with the ability to motivate others to work toward a shared business vision
Strong communication skills to ensure information to key stakeholders as well as employees is delivered, received, understood, and results in action if require
Proven ability in complex project management and ability to move difficult projects forward without direction
Understanding of general benefits regulations (eg: ERISA, HIPAA) and ability to research and navigate regulations when a compliance issue needs to be addressed
Ability to learn and apply knowledge as needed around complex plan design variations for different employee groups.
