Employee Benefit Funds Administration Jobs (NOW HIRING)

Full Time

Full Time

New York, NY, US

Salary Range: $245,000.00 To $260,000.00 Annually

Job Title: Director, Compliance

Department: Compliance

Reports To: Executive Director

FLSA Status: Exempt

About Us:

Building Services 32BJ Benefit Funds ("the Funds") is the umbrella organization responsible for administering Health, Pension, Retirement Savings, Training, and Legal Services benefits to over 100,000 SEIU 32BJ members. Our mission is to make significant contributions to the lives of our members by providing high quality benefits and services. Through our commitment, we embody five core values: Flexibility, Initiative, Respect, Sustainability, and Teamwork (FIRST). By following our core values, employees are open to different and new ways of doing things, take active steps to improve the organization, create an environment of trust and respect, approach their work with the intent of a positive outcome, and work collaboratively with colleagues.

For 2023 and beyond, 32BJ Benefit Funds will continue to drive innovation, equity, and technology insights to further help the lives of our hard-working members and their families. We use cutting edge technology such as: M365, Dynamics 365 CRM, Dynamics 365 F&O, Azure, AWS, SQL, Snowflake, QlikView, and more. Through this technology investment, we have gathered and analyzed thousands of data insights to influence health insurance legislation and propose new health policy. Our efforts have galvanized many leaders and the consensus is there is plenty more work to be done.

Please take a moment to watch our video to learn more about our culture and contributions to our members: youtu.be/hYNdMGLn19A

Summary:

The Compliance Director is responsible for all aspects of the Fund Office's compliance with financial and reporting regulations pertaining to the administration of its retirement and health & welfare employee benefit and other (i.e., legal, training) funds. This responsibility includes planning, directing, developing and implementing policies, programs, standards and procedures to ensure compliance with all relevant local, state and federal governmental regulations and requirements.

The incumbent remains informed of all plan provisions and current in knowledge about the legal and regulatory environment governing employee benefit plans and; is widely recognized by colleagues and other professionals for technical competence and advisory skills. The Compliance Director reports to the Fund Office's Executive Director and performs as a member of the Executive Director's leadership team, providing both strategic and tactical input and guidance to the operation of the Funds as it pertains to compliance and other relevant matters.

Integral to the role is ability to effectively set goals for, direct, guide and motivate a compliance unit and staff and; to interact collaboratively with the Board of Trustees, other Fund Administrators, internal departments and a diverse audience of colleagues at all levels inside the Fund Office and with external parties supporting Fund Office activities.

Key Job Responsibilities:

The Compliance Director's role has two major facets. One is the day-to-day responsibility for managing the compliance unit, its operation and staff to include facilitating the unit's continual growth in professional capability in order to enhance its operational effectiveness within the Fund Office. The other is overseeing the quality of the Fund Office's compliance activities to include implementing initiatives as needed to enforce the compliance of its employee benefit funds. Key responsibilities include but may not be limited to:

• Participating with the Fund's Executive Director, Fund Administrators and Board of Trustees in planning and implementing short- and long-term goals and objectives for the Fund relating to compliance programs, initiatives and needs to include forecasting compliance requirements and preparing an annual budget of planned expenditures.
• Monitoring the compliance unit's progress towards established business and financial goals and initiating corrective action as needed to achieve desired results.
• Communicating with the Executive Director, Board of Trustees, special committees, union officials, employers, members, professional advisors (e.g., auditors, attorneys, actuaries, investment managers, investment performance advisors, custodians, third party administrators, insurance carriers, computer system representatives, etc.) and governmental agencies on compliance requirements and; overseeing participant communications to include the development of plan communication material and communication of plan and policy changes as needed.
• Establishing and maintaining written compliance-related policies and procedures and implementing such policies and procedures.
• Monitoring the Fund Office's relationship with outside lawyers, tracking litigation activities and facilitating the resolution of issues involving outside lawyers and the Fund Office's co-counsel.
• Managing the employee benefit plan appeals process and providing quality assurance of the controls and processes utilized to facilitate claims appeals to include working with outside lawyers as needed to resolve claims-related issues.
• Monitoring overall operation of the pension, annuity and health processing functions and overseeing the performance of service providers responsible for the administration of the health & welfare plan and other funds (i.e., legal, training).
• Monitoring compliance of plan documents with regulatory and legal requirements through the use (and installation of, if needed) internal control systems.
• Conducting periodic audits of the Fund's policies, procedures and operations to identify transactional and systemic problems and, as needed, developing and implementing training and process improvements to bring about compliance.
• With the Executive Director, Fund Administrators, Fund Auditors and Legal Counsel, overseeing governmental compliance testing, reporting and filings (e.g., tax, 5500 forms, participant notices, etc.).
• Tracking laws and regulations and; maintaining contact with external industry contacts and professional organizations as a means of keeping current on regulatory events, trends and other related situations that could affect the Fund's benefit plans and operations.

Key Experience Requirements:

• Minimum of a Bachelor's Degree. Law or other relevant advanced degree is desirable.
• Minimum of 12-15 years of employee benefits related regulatory and/or compliance experience to include accountability for leading or providing significant leadership- oriented support to a relevant function/unit to include direct involvement with executive-level decision making, interaction with Trustees and/or top-level management and contact with outside financial, legal, actuarial and other professional advisors and service providers. Union environment experience desirable.
• Broad-based knowledge of, if not expertise in; the legal, regulatory and related administrative aspects of human resource, pension and health & welfare benefit plans and programs to include contractual laws and regulations pertaining to ERISA, HIPPA, IRC and other relevant fiduciary responsibilities and requirements.
• Proficiency in relevant computer applications and software to include automated claims processing and benefits administration systems.
• Excellent communication skills (oral/written) with ability to relate to and influence diverse audiences.
• Excellent interpersonal skills with ability to interact and collaborate with diverse groups throughout and external to the Fund.
• Demonstrated record of accomplishment in identifying quality and operational improvement needs and, developing solutions and implementing action and/or change in response.

Critical Success Factors and Behavior:

• Technical Competence:
• Depth and breadth of knowledge in relevant concepts, applications, services, processes and products.
• Analytical ability and approach to identifying and diagnosing problems and their solutions.
• Proficiency in relevant computer applications and software.
• Project management skills to include planning, budgeting, controlling quality assurance and delivery.
• Orientation to consistently achieving high quality outcomes.
• Achiever Orientation:
• Determining what needs to be done, following through to completion, anticipating and going beyond what is expected.
• Knowing self-limits and consistently working to improve own efficiency.
• Establishing high standards of professionalism, setting and achieving professional and personal goals, owning responsibility for self-development and the development of others.
• Persistency in achieving desired results, holding self and others accountable.
• Business Acumen:
• Awareness of external best practices and trends in specialty area and working to import relevant new concepts and approaches.
• Awareness of one's function and its impact on the operating efficiency and profitability of the organization.
• Analyzing the consequences of decisions and actions before acting and exercising good judgment in determining when and how much risk should be taken.
• Demonstrating a clear commitment to the organization's well-being, acting as a positive role model for others, taking and encouraging action to grow an organization's business and/or its effectiveness.
• Organization Awareness:
• Understanding and effectively operating within the culture, climate and politics of an organization.
• Identifying who the real decision makers are and the individuals who can influence them.
• Recognizing unspoken organizational limitations and, what is/is not possible at certain times and in certain circumstances.
• Predicting how new and/or external events and situations will affect individuals and groups within an organization.
• Change Leadership:
• Ensuring that the right people and/or processes are in place to produce excellent business results.
• Defining and/or raising the bar on performance levels of individuals and/or groups.
• Defining and articulating a plan or clear set of objectives in a compelling manner

that fosters a consistent understanding across diverse groups.