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This position is responsible for leadership direction and management of the overall strategy, design, compliance, plan communications, financial wellness resources, reporting of retirement investments and service provider relations for the Nestlé in the U.S. qualified and non-qualified defined contribution savings plans as well as leadership of the Savings Plan team.
Strategy and Design
• Leads Savings Plan team to include managing and developing staff, managing workloads, setting priorities and establishing projects.
• Manages and designs the long term strategy and establishes savings plan design and priorities to ensure efficient and driven programs and alignment with key business objectives, which meet both employer and employee needs.
• Collaborates with Director-Retirement, internal business partners, OpCo’s, ERISA counsel and service providers to assess and establish savings plan design and priorities to ensure cost effective programs and alignment with key business objectives, which meet both employer and employee needs.
• Coordinates team to conduct research on DC benchmarking and standard methodologies and compares against savings plan metrics to identify trends, improvement opportunities and make recommendations to Director Retirement and then Total Rewards Committee for future plan design strategy changes.
• Liaises with Retirement Project Manager role to ensure a mutual understanding of key objectives and cohesive approach to common projects.
• Leads and coordinates the communication strategy and design and develops and implements plan communication efforts, web sites, online resources and education programs for employees.
• Partners with Labor Relations to analyze, develop and deliver plan design proposals and associated costs for labor contract discussions.
• Ensures compliance with various government regulations (ERISA, IRS, DOL) and handles plan documents, plan audits, operational reviews, compliance testing and filing submissions; coordinates dissemination of required worksite/participant communications (SAR, SMM, SPD).
• Serves as a savings plan subject matter authority for plan solutions, legal and audit inquires, participant issues and appeals.
• Collaborates with legal counsel and service providers to ensure accurate interpretation and execution of plan provisions and to build and maintain plan documents as plan design changes.
• Collaborates with finance and RINA to study and review trust/plan accounting, audits, investment options, investment performance and fund managers.
• Manages and controls plan, trust and corporate expenses and funding requirements.
• Monitors participant behaviors and researches, develops and implements innovative retirement education communications and financial wellness solutions to address participant and plan sponsor challenges to drive attainment of participant savings goals.
• Partners with financial wellness vendors to ensure offerings are current and utilized by HR and plan participants.
• Directs the M&A activities for savings plan by ensuring development, implementation and execution of plan changes and system conversions with internal business partners, ERISA counsel and service providers.
• Runs M&A and divestiture-related activity for Savings Plans to ensure successful completion of due diligence and accurate contract interpretation in order to make recommendations for plan integration and subsequent implementation of changes.
• Handles service provider relationships and supervises contractual obligations and SLA performance results, leads routine vendor performance meetings, participates in vendor selection (RFP/RFI), and handles any resulting integration processes.
• Leads vendor contract discussions and renewal processes, on behalf of Nestlé as Plan Sponsor, for all Savings Plan related agreements.
Other Duties As Assigned
Requirements and Minimum Education Level:
• Bachelor`s degree in Business
• Required 8-10 years of defined contribution plan and retirement investment and trust experience at a large multi-functional organization with multiple plans
• Union plan exposure (preferred)
• Minimum of four years demonstrated supervisory experience leading teams
• Strong multiple vendor management experience
• Strong project management experience
• Advanced understanding and demonstrated knowledge of ERISA, DOL and IRS regulations relating to qualified and non-qualified defined contribution plans, retirement investments and trust finances
• Outstanding leadership, development and team building skills
• Excellent written and verbal communication and presentations skills to effectively address all levels within an organization and deliver outstanding excellent customer service in all relationships
• Results focused with strong attention to detail
• Ability to react quickly and lead in a fast-paced, multifaceted environment
• Ability to research and formulate solutions to difficult situations
• Strong project implementation and change management skills
• Strong analytical skills and ability to analyze and translate plan data and industry trends into impactful recommendations
• Ability to work autonomously and in teams of various sizes
• Demonstration of high level of integrity and ability to maintain a high degree of confidentiality
• Proficient in MS Office applications
• Ability to travel, as needed
The Nestlé Companies are equal employment and affirmative action employers and look for diversity in qualified candidates for employment.
We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform key job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.