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Manager, Benefits Strategy - 12 Month Contract

ID de l'offre R71314 Date de publication 04/22/2019 Lieu Toronto, Ontario
161 Bay Street (93021), Canada, Toronto,Toronto, Ontario,

At Capital One, we’re building a leading information-based technology company. Still founder-led by Chairman and Chief Executive Officer Richard Fairbank, Capital One is on a mission to help our customers succeed by bringing ingenuity, simplicity, and humanity to banking. We measure our efforts by the success our customers enjoy and the advocacy they exhibit. We are succeeding because they are succeeding.                                               

Guided by our shared values, we thrive in an environment where collaboration and openness are valued. We believe that innovation is powered by perspective and that teamwork and respect for each other lead to superior results. We elevate each other and obsess about doing the right thing. Our associates serve with humility and a deep respect for their responsibility in helping our customers achieve their goals and realize their dreams. Together, we are on a quest to change banking for good.

Manager, Benefits Strategy - 12 Month Contract

Responsibilities:

Tactical and strategic consultation to HR, Benefits Administration, International Benefits and site management

  • Partner with business leaders, develop and implement benefits strategy to address workforce challenges such as attrition, hot skills, and market competitiveness

  • Manages the execution, education and communication of benefit programs. Prepares announcement material, booklets, and other media for communicating plans to associates. Conducts associate meetings and arranges for enrollment of associates in optional plans. Conducts associate benefit seminars for local personnel. Revises and reissues all communications material on benefits from time to time. Advises and counsels management and associates on existing benefits.

  • Leads benefits plan and policy change initiatives including annual rate renewal efforts – consulting with business, Finance and HRCs on business strategy

  • Manages benefits financial budget along with regular claims utilization review --implements annual plan for driving down company and associates costs through education, communication and plan design initiatives

  • Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; participating in professional societies.

  • Provides standards to Benefits Operations for maintenance of human resources records. Oversees maintenance of enrollment, application, and claims records for all benefit plans

  • Develop and deliver business case with recommendations and presentations to plan governance committees (Retirement Committee, Benefits Committee, etc.)

  • Develops approach and implements process for determining total value and cost for specified benefits plans aligned to Total Rewards philosophy

Evaluation and Maintenance of Benefits Programs

  • Oversees and maintains accountability for benefits plans, including regular reviews presented to International Benefits to ensure plan outcomes are as intended in the design and that plans remain in line with business strategy and Total Rewards philosophy

  • Works with Ben Ops to obtain census data and solicits insurance companies for quotations. Evaluates quotations and makes recommendations to management. Develops company cost information for new plans and makes recommendations to management concerning sharing of cost between employer and associate.

  • Conducts regular plan utilization analysis to determine effectiveness of associate benefits plans. Develops metrics to measure budget impacts and trends to report and develop cost management strategies,

Benchmarking

  • Monitors trends in the competitive market and ensures competitive to attract and retain high performers/key talent

  • Through a regular cadence, conducts external benchmarking and maintains market aligned programs. Develops strategic roadmap working back from principles and business strategy for proactive budgeting and project planning.

Compliance with corporate policies and local laws & regulations

  • Ensure that local benefit practices are compliant with – company policies, local laws and regulations. Coordinates with Benefits Operations to ensure that internal and external processes are aligned to intent and legislation.

  • Stay abreast of changes in local laws and regulations governing benefits

  • Develop guidelines to monitor audit procedures per policy and legal guidelines – Consult with Int’l Benefits partners on corporate standards

  • Work with International Benefits and Corporate Rewards to coordinate investment committee meetings, build agenda, document/store meeting minutes and schedule monitoring/review sessions according to global investment principles and guidelines.

  • Prepares and executes, with legal consultation, benefit documentation such as original and amended plan texts, benefit agreements and insurance policies. Instructs insurance carriers, trustees, and other administrative agencies outside the company to effect changes in benefit program. Ensures prompt and accurate compliance.

Vendor Management

  • Primary business owner responsible for business relationships and contracts to deliver on benefits program. Serves as escalation point for contract and SLA issues. Facilitates regular meetings with vendor and Benefits administration to review program and delivery metrics to proactively manage program issues/trends/updates.

  • Interface with vendors on design and program changes – consult on program offerings to stay abreast of potential new services aligned to business strategy and initiatives. Coordinate system and process needs with Ben Ops Lead.

  • Govern and control vendor delivery to ensure corporate standards and process are adhered to for risk assessments/management and vendor selection efforts

  • Work with team, consultants, vendors and legal counsel to ensure all benefits are following all applicable legislation.

  • Through partnership with ESM, lead preparation and analysis of RFP processes as needed to include development of specifications, summaries, experience data and analysis of responses

Establish and Maintain Relationships with the following Stakeholders

  • Line of Business Leaders - ensures plan outcomes are aligned with intended benefits design, business strategy, and Total Rewards philosophy

  • CANADA HRC team

  • HR local and global partners – Recruiting, COU, HR Services, Associate Relations, Int’l Benefits, International Compensation team, community of total rewards associates, etc.

  • Other groups – i.e. Finance, Legal, ESM, etc.

Basic Qualifications:

  • Bachelor’s Degree

  • 5 - 8 years of experience in Benefits

  • 3 years of experience in client facing/consulting role

  • Experience working within highly-matrixed environment

  • Comprehensive knowledge of relevant laws/regulations relating to benefits

  • Strong analytical skills including experience building compensation models and conducting pay analysis using pivot tables and other extensive/advanced Microsoft Excel skills

  • Strong project management skills including proven ability to manage multiple projects with short deadlines and effectively managing stakeholders

  • Proficient with compensation research and data analysis


Preferred Qualifications:

  • Bachelor’s Degree in Human Resources, Psychology or Business Administration

  • 5 - 8 years of experience in Benefits

  • 3 years of experience in client facing/consulting role

  • Experience in BPO is an advantage

  • Extensive experience with Microsoft Excel and PowerPoint; as well as with benchmarking and program inventory tools (ex. ePrism/Towers Reward; Mercer Gold Plus, Towers Global Ben Mgmt, BenTrack etc.)  

Capital One Canada is an equal opportunity employer committed to fostering a diverse and inclusive work environment. We consider all qualified applicants and will meet the needs of those requiring reasonable accommodations.

If you have visited our website in search of information on employment opportunities or to apply for a position, and you require an accommodation, please contact Capital One Recruiting at 1-800-304-9102 or via email at RecruitingAccommodation@capitalone.com. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.

For technical support or questions about Capital One's recruiting process, please send an email to Careers@capitalone.com

Capital One does not provide, endorse nor guarantee and is not liable for third-party products, services, educational tools or other information available through this site.

Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).