Manager, Benefits - Global HR (Contract)

Is this role right for you?

In this role you will:

• Provide regular reporting and analysis of all benefit programs statistics and financials.
• This includes monitoring trend, usage, costing, expense and performance analysis for all benefits and wellness programs, and identifying risk or opportunities for change.
• Offer integrated and proactive solutions to check if internal trend is consistent with industry best practice and consistent with Bank strategies and goals.
• Ensure all policies, underwriting agreements and transactions are appropriately accounted for; both in the Bank’s General Ledger system and in the Bank’s financial reporting process.
• Coordinate/manage the preparation of the benefits portion of the department’s budget projections, including external consulting/administration fees, benefit costs and premiums; perform variance analysis; track related expenses and pay invoices.
• Support the financial reporting process for pension & benefits plans following established procedures every quarter-end and at year-end.
• Assist with the management and preparation of actuarial valuations for certain postretirement and post-employment benefit plans – by external consulting staff – for design, funding, expense and forecasting purposes to effectively manage costs.
• Manage department’s response to both external and internal audit requests on benefits financial reporting and procedures (including under Sarbanes Oxley (SOX)). Update documentation on established procedures, as required.
• Ensure benefit programs are designed with consideration of needs, cost-efficiency, competitive positioning, emerging industry trends and innovations, governance, best practices and compliance requirements (including taxation and other regulatory requirements). Products and programs include (but not limited to) group insurance
• benefits for active employees and retirees (flexible & traditional benefits), short-and long-term disability, leave of absence, vacation, wellness, EFAP and other employee benefit programs.
• Support the Canada & US Benefits team in preparing annual benefit strategies, annual enrolment and funding, change proposals, executive reporting and any internal and regulatory reporting requirements, particularly those of financial consequence.
• Provide assistance on pricing the Canadian Benefits Plan, Retiree Flex Benefits and US benefits as required.
• Review various underwriting and financial agreements with service providers in Canada and US to ensure compliance and accurate reporting.
• Provide benefit expertise in support of business strategies including mergers, acquisitions and outsource initiatives, and support the completion of compliance activity reporting for the Pension & Benefits team. This includes assisting in the governance/oversight of vender contracts due-diligence activities on potential acquisitions/divestitures, and other ad-hoc projects as required.
• Understand how the Bank’s risk appetite and risk culture should be considered in day to-day activities and decisions.
• Actively pursues effective and efficient operations of their respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
• Champions a high performance environment and contributes to an inclusive work environment.

Do you have the skills that will enable you to succeed? We'd love to work with you if you have:

• Minimum of three years of experience in group benefits financial management.
• In-depth knowledge and solid understanding of group benefit principles, processes and legislation, including financial and underwriting concepts for Canada & US
• Ability to provide analysis of benefit programs (internally and externally) to furnish comprehensive recommendations for amendments/enhancements/introductions as a result of emerging trends, regulatory changes and /or industry best practice.
• Ability to think analytically, strategically, creatively and conceptually when developing new benefit programs and/or reviewing existing programs. Including the ability to quickly gather, analyze and synthesize new/changing information and create sound recommendations and strategies that address organizational needs and consider short and long-term impacts.
• High degree of initiative, organizational and investigative skills, ability to focus, prioritize and action multiple projects with conflicting immovable deadlines.
• Effective consultation skills.
• Fully functional technical skills with respect to software programs, such as Excel, PowerBI, Word, Power Point, and other programs.
• The ability to work independently and as part of a team, including the ability to build close working relationships with a large number of individuals across the Bank and among external advisors and vendors.
• Associate of the Society of Actuaries (ASA) designation or relevant experience.