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401K Benefits Consultant

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Date Posted: Sep 20, 2022

Location(s): Bridgewater, NJ, US, 8807

Company: MetLife

Job Location: Hybrid - Bridgewater, NJ

 

Role Value Proposition:

Reporting to the Assistant Vice President, Global Benefits, the Benefits Consultant will be responsible for overseeing the day-to-day processes associated with the Company's 401(k) and Auxiliary Match Plans, which includes oversight of $7b in 401(k) Plan assets. Also responsible for the end-to-end vendor management of these plans by partnering with the recordkeeper, custodian, Trust, and investment advisors. The Benefits Consultant will also be responsible for ensuring employee-facing communications and plan materials are accurate and easily understood. The role will also be a contributor for the voluntary nonqualified deferred compensation plans, and Retirement and Auxiliary Retirement Plans.

 

Key Responsibilities:

  • Strategic Administration
    • Oversee all aspects of the day-to-day administration of the 401(k) and Auxiliary Match Plans, and partner with the team that manages the deferred compensation plans and retirement plans
    • Partner with Trust vendor for effective operations of the Plan including overseeing generation of NAVs and Buy/Sell, payment of benefits, tax reporting and movement of funds
    • Handle employee inquiries and escalations, including research and response
    • Partner effectively and proactively with HR, finance/accounting, payroll, tax, IT, Investments and legal departments to anticipate, implement, and address 401(k) and Auxiliary Match Plan procedures and rectify issues
    • Benchmark plans and recommend plan design changes to maintain competitive benefits, including fund offerings
  • Compliance/Internal Controls
    • Ensure that SOX procedures are followed and that appropriate documentation is maintained for SOX compliance
    • Subject matter expert on 401(k) and Auxiliary Match Plan for Proxy reporting – leverage vendor information to validate accuracy
    • Manage required and other employee communications associated with the 401(k) and Auxiliary Match Plans
    • Assist with the development and implementation of procedures and practices to better enable efficient, accurate and timely processing of 401(k) and Auxiliary Match Plan matters and reports
  • Vendor Management
    • Management of third party vendor relationships to ensure day-to-day operations run smoothly
    • Involved with contract renewals and RFPs, and responsible for reviewing and approving invoices
    • Review of Key Performance Indicators and service standards as compared to vendor contract terms
    • Liaison between internal and external stakeholders and vendors

 

Essential Business Experience and Technical Skills:

Required:

  • 10+ years relevant experience
  • Strong verbal, written, listening, and interpersonal communication skills and comfort interacting with employees and groups from all levels of the Company
  • Strong Microsoft Office skills
  • Demonstrated ability to work under time constraints in a fast-paced environment
  • Proven ability to partner with cross-functional teams (including HR, Payroll, Accounting/Finance, Tax, IT, Investments and Legal), and to also work independently
  • Proven ability to manage external plan administrators and service providers
  • Must be detail-oriented, self-motivated, flexible, deadline-oriented, and able to complete tasks with minimal supervision
  • Excellent organizational skills and ability to multi-task

 

Preferred:

  • Bachelor’s Degree
  • Familiarity with Defined Benefit Plans, Health and Welfare and voluntary benefits a plus

 

Travel

0% - 10%

 

Business Category

Human Resources_00996

 

Number of Openings

1

 

At MetLife, we’re leading the global transformation of an industry we’ve long defined. United in purpose, diverse in perspective, we’re dedicated to making a difference in the lives of our customers.”

MetLife:

 

MetLife, through its subsidiaries and affiliates, is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.

 

We are one of the largest institutional investors in the U.S. with $642.4 billion of total assets under management as of March 31, 2021. We are ranked #46 on the Fortune 500 list for 2021. In 2020, we were named to the Dow Jones Sustainability Index (DJSI) for the fifth year in a row. DJSI is a global index to track the leading sustainability-driven companies. We are proud to have been named to Fortune magazine’s 2021 list of the “World’s Most Admired Companies.”      

 

MetLife is committed to building a purpose-driven and inclusive culture that energizes our people. Our employees work every day to help build a more confident future for people around the world.

 

The wage range for applicants for this position is $98,600 - $131,400.  This role is also eligible for annual short-term incentive compensation. MetLife offers a comprehensive benefits program, including healthcare benefits, life insurance, retirement benefits, parental leave, legal plan services and paid time off. All incentives and benefits are subject to the applicable plan terms.

 

We want to make it simple for all interested and qualified candidates to apply for employment opportunities with MetLife.  For further information about how to request a reasonable accommodation, please click on the Disability Accommodations link below.

 

MetLife is a proud Equal Employment Opportunity and Affirmative Action employer dedicated to attracting, retaining, and developing a diverse and inclusive workforce. All qualified applicants will receive consideration for employment at MetLife without regards to race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, age, disability, national origin, marital or domestic/civil partnership status, genetic information, citizenship status, uniformed service member or veteran status, or any other characteristic protected by law.

 

MetLife maintains a drug-free workplace.