Director, Corporate Employee Benefits in Newark, New Jersey | DiversityInc Careers
 
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Director, Corporate Employee Benefits

About the position

The Employee Benefits Center of Expertise within Human Resources is responsible for the design, implementation and delivery of the company's employee benefit plans and programs. The employee population includes over U.S. based employees, retirees and deferred vested pensioners. Plans and programs encompass a broad array of benefits, including healthcare, personal protection, absence, pension and savings, and financial wellness.

Reporting to the Lead of Global Benefits Strategy & Design, the Director is responsible for gathering and analyzing data and industry trends, managing vendor contracts and ensuring plans are compliant with legislative and regulatory updates. In addition, this role is responsible for developing approach and delivery for portions of Total Rewards strategy, Employee Benefits communication strategy and benefits pricing.

Responsibilities:

  • Gather and analyze industry trends; competitive data; input on employee drivers of attraction, retention and engagement; and current cost information as it pertains to the Benefits Strategy. Provide an external focus for strategy and design (attend conferences, gather information from vendors, consultants and peers, etc, review survey results and share with employee benefits teams)
  • Gather and analyze benchmark data and industry trends and capabilities; conduct a financial impact assessment; initiate the project plan for the design of employee benefit plans and policies and develop materials for the delivery team
  • Understand, analyze and amend as necessary vendor contracts in place, gather feedback from the delivery team, conduct RFPs and obtain intelligence from vendors
  • Ensure design complies with legislative and regulatory updates (be aware of and understand updates, review plan design to validate compliance, make changes as needed, meet with legal and compliance to keep up to date and develop resolution communication)
  • In support of the Lead – Global Benefits Strategy & Design:
    • assist in development of approach and delivery mechanisms for Total Rewards education strategy, understanding trends, legal requirements and benchmarks, identifying gaps to target with employee education;
    • join merger and acquisition (M&A) deal teams, recommending what should happen to target plans, deciding how new employees fit into Prudential plans and developing communications strategy for M&A benefits requirements; and
    • collaborate with Wellness peers in the development of strategies to drive the health of the employee population
  • Create implementation plan, develop materials for delivery team and control the review process for the employee benefits communication strategy and approach; vet, validate and approve communications; review education materials
  • Understand current cost of benefits and benefits experience; conduct rate forecasting and develop rates for the following year; gather and analyze benchmark data on rates and cost-sharing; and create price tags. Analyze actual versus forecasted spend and benchmark data collection and analysis for all programs
Qualifications
  • BA/BS degree preferred

  • Minimum 8 years experience related to retirement and/or health and welfare benefits

  • Experience in developing and implementing a corporate benefits strategy

  • Experience from a Fortune 500 company and highly matrix work environment

  • Strong consultative expertise; Management consulting experience desirable

  • Strong analytical skills to assimilate disparate data sets into cohesive integrated reports/presentations; able to draw connections from data to identify larger optimization opportunities.

  • Thorough understanding of employee benefits industry trends and practices

  • Clear and concise oral and written communication skills

  • Ability to exercise discretion in decision making and judgment

  • Proven ability to be detail-oriented and organized

  • Strong collaboration and negotiation skills

  • CEBS certification preferred

  • Proven ability to partner across the organization and build relationships

  • Possess financial, human resources and business acumen

  • Affinity for innovative benefits program development

Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.

Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.