Exelon Corporation Looking for Sr Analyst, Retirement Plan at CHICAGO, Illinois Full Time

Description

Be a part of something powerful at America’s premier energy provider!

At Exelon, we are united by our values and shared vision for a cleaner and brighter future. We encourage curiosity, value diverse perspectives and we never stop looking for ways to be, work and do better. We know the future is in our hands. That’s why we’re looking for people like you, who have the power to make a difference.

As the nation’s largest utility company, we serve more than 10 million customers through six fully regulated transmission and distribution utilities – Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). All 18,000 of us are committed to delivering safe, reliable and affordable energy to our customers, strengthening our communities, supporting a clean energy future and reducing our impact on the changing climate.

Our people are the heart and soul of our business. Whether it’s powering lives, supporting communities or collaborating with colleagues, an Exelon employee is talented, compassionate, forward-thinking and inspired. We are empowered to evolve and advance our careers in an open and inclusive environment. We pride ourselves on being the kind of place where people want to come and stay. We know that investing in our employees’ futures strengthens ours, which is why we offer competitive compensation, incentives and health and retirement benefits.

PRIMARY PURPOSE OF POSITION

Responsible for the administration of the company’s qualified and nonqualified defined benefit pension plans, including QDRO administration and serves as the subject matter expert in these areas. Works directly with third party administrators (TPA) related to delivery of Pension and QDRO administration. Supports Manager in role of primary company representative and liaison with internal clients and external Pension/QDRO vendors to ensure a high level of customer satisfaction and cost savings across Exelon. Understands the end-to-end process and creates/designs new processes. Individual works directly with the Retirement Plans Manager to resolve plan, policy or ERISA appeal issues.  Also, supports 401(k) and Deferred Compensation Plan administration, working directly with the TPA and supporting the Manager in the administration of the defined contribution plans and as a subject matter expert in this area

PRIMARY DUTIES AND ACCOUNTABILITIES

• Supports the administration of the company’s qualified and nonqualified benefit retirement plans and serves as the subject matter expert on all retirement plans as well as supporting the defined contribution plans (45%)
• Supports the management of the TPA and monitors compliance with contractual performance standards (20%)
• Evaluate and interpret plan documents, procedures, and contracts related to Pension/QRDO to ensure company and legal compliance as governed by ERISA, the Internal Revenue Code and Department of Labor (10%)
• Identify, develop, and implement process improvements to ensure service levels and customer satisfaction are met. (5%)
• Primary support for delivery of the pension statements, delivery of actuarial data, any retiree cost of living adjustments and funding instructions of the pension plan checking accounts (10%)
• Identify controls to ensure compliance with Sarbanes-Oxley. Self audits and monitors operations to ensure controls are operating as designed. (10%)

JOB SCOPE

• Work efforts impact budget if plans are administered outside of Exelon plan documents.
• Significant independent decision-making opportunities and responsible for setting operational direction.
• Interaction with company executives to clarify retirement benefits, as required.
• Operates independently with little or no supervision.
• Excellent interpersonal skills and ability to work in a team environment.
• Ability for independent decision-making and strong analytical skills required.

Qualifications

MINIMUM QUALIFICATIONS

• 4-year degree in business, HR, or related field and a minimum of 5 to 8 years in Pension administration or corporate benefits.
• Project management experience and skill set.
• Proven ability in vendor management
• Ability to analyze and summarize data and prepare solutions for management review
• Excellent excel and data analysis skills and strong attention to detail.
• Excellent customer service skills, strong communications skills, and solid project management skills.
• Understanding of defined contribution retirement plans as well as QDRO administration.
• Ability to work well in project environment.
• Makes decisions based on analysis of relevant information including plan documents, problems, root cause analysis, priorities, critical issues, and alternatives.
• Works with others to achieve common goals that result in more than what could be done individually.
• Advanced skills in accountability, ownership and a strong sense of urgency in responding to customers

PREFERRED QUALIFICATIONS

• Certified Employee Benefits Specialist.
• Experienced TPA work in defined benefit/defined contribution.
• Experience and success in building co-operative business relationships with employee representatives.