Senior Pension and Benefits Specialist, North America
The Compensation & Benefits team at Munich Re Canada is looking for a Senior Pension and Benefits Specialist to join the team in the Toronto office. The individual will be a part of the extended HR community in US and Canada. We are looking for a candidate who is a subject matter expert on US as well as Canadian pension and benefits.
The Senior Pension and Benefits Specialist:
- Assesses and administers benefits and pension programs across the North America Life companies.
- Collaborates with the Shared Services team and HR Business Partners to add value and deliver excellent service.
Pension & Benefit Administration
- Researches, develops and implements plan design changes and amendments/new plans for pension and savings plans, benefits and wellness.
- Remains up to date on trends and legislative changes that impact plans and plan design.
- Subject matter expert on retirement and savings plans for U.S. and Canadian companies; including experience and knowledge of defined benefit plans (pension plans and SERP), defined contribution plans (including 401(k) savings plans and deferred compensation plans).
- Ensures retirement plans are administered in accordance with company, provincial/state, and federal guidelines and regulations.
- Oversees the administration of all regional pension and benefits programs, including employee enrolment and changes, vendor invoicing, reconciliation and renewals, contract negotiation, etc.
- Liaises with group insurance providers on all aspects of benefits plans in terms of contract provisions, claims experience analysis and administration, levels of service and system requirements.
- Works with internal contacts and service providers to resolve claims, coverage and service issues and finds solutions/provides recommendations for sensitive and one-off situations.
- Serves as a key resource and subject matter expert for the HR team, Finance and Payroll in all budgeting and financial requirements for the Company.
- Ensures all regulatory filings are completed accurately and timely.
- Administers the regional Pension Management/Employee Benefit Committees, including agenda development, liaison with partners and recording of minutes as required.
- Supports pension and 401(k) audits and pension and benefits year end processes.
- Ensures that any head-office global reporting and approvals are conducted according to the guidelines of the Total Rewards Policy.
- Leads the execution of the Wellness program, with input from other HR team members, and integrates with employee benefits program offerings.
Human Resources Policies and Documentation
- Documents and maintains Human Resources policies, guidelines and practices in a clear and concise format, that is readily accessible to both the Human Resources teams as well as the staff.
- Provides relevant, easy to understand, creative and timely content for the HR Intranet, for all areas of responsibility.
- A university degree in Business, Human Resources or related field of study.
- Minimum of 5+ years of relevant work experience in benefits and pension administration (including defined benefit pension plans, defined contribution pension plans, 401(k) plans, executive compensation plans, SERP and Group Retirement Savings).
- Sound knowledge of Canadian pension plans and applicable legislation, defined contribution and defined benefits plans.
- Knowledge of the administration and all applicable laws applicable to US pension plans - qualified and non-qualified plans.
- In-depth knowledge of benefit and pension related legislation, as well as employment laws and standards.
- Ability to communicate effectively with employees throughout the company; with persuasive and concise writing style.
- Exceptional organizational and analytical skills and the ability to manage multiple priorities simultaneously.
- Proven problem solving skills with the ability to recognize and articulate the essence of a problem.
- A high degree of conscientiousness and a strong sense of responsibility and service orientation.
- A high level of efficiency and project management skills.
- Advanced proficiency in Excel and HRIS/payroll systems (SAP and ADP Workforce Now preferred).
- Ability to speak French is considered an asset.
- Payroll experience is considered an asset.
- Completion or progression toward professional designations such as CHRP, CHRL, CEBS is an asset.
We thank all candidates for their interest. Only selected candidates will be contacted. Munich Re is one of the world’s leading reinsurance companies with approximately 45,000 employees in over 50 locations around the globe. As an industry leader, we provide a unique opportunity to be part of a global success story. We offer our employees a diverse and challenging work environment which champions high performance, professional development, innovation and passion; and rewards top performers with a highly competitive total rewards package.
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