Senior Retirement Benefits Consultant III

Description

Candidates who live within 50 miles of Boston, MA; Portsmouth, NH; Seattle, WA; Indianapolis, IN; Columbus, OH; or Plano, TX will follow a hybrid schedule, coming into the office two days per week. Otherwise, this role is remote.

Position Summary

Liberty Mutual’s Total Rewards Benefits team is seeking a Sr. Retirement Consultant III to provide operational oversight of the company’s retirement programs, with primary responsibility for U.S. defined contribution and defined benefit plans and additional responsibility for Puerto Rico and Canadian retirement plans. This senior individual contributor partners with vendors and team members to plan, develop, and administer employee retirement and health and welfare programs, ensuring accurate, efficient, and compliant plan administration in accordance with plan provisions and regulatory requirements.

Reporting to the Director, Retirement Strategies, the Sr. Retirement Consultant III serves as a retirement operations subject matter expert and supports preparation for Retirement Committee and Investment Committee meetings. The role partners closely with recordkeepers, actuaries, trustees, financial advisors, and other external partners, as well as Legal, Payroll, Finance, HR, IT, and Benefits, and leads complex benefits projects from planning through implementation.

Job Responsibilities

Plan Operations, Compliance & Controls

- Lead operational oversight of the company’s retirement plans, ensuring effective execution of recurring activities, compliance requirements, controls, deadlines, and annual deliverables.

- Oversee retirement plan compliance and testing, including nondiscrimination and coverage testing, contribution and compensation limits, regulatory filings, and other annual requirements, partnering with recordkeepers, actuaries, Legal, Payroll, and consultants to ensure timely, accurate completion.

- Ensure plans, programs, and processes comply with applicable governmental laws and regulations, including ERISA and IRS requirements, across a wide range of benefits disciplines.

- Monitor legislative and regulatory developments, such as SECURE 2.0 and IRS and DOL guidance, and assess their impact on plan operations, administration, and participant communications.

- Lead resolution of complex operational issues, participant claims, and plan corrections, including root-cause analysis, participant impact assessment, and corrective action.

- Oversee retirement plan data integrity and operational controls, using data and analytics to identify exceptions, trends, and risks, and partner with Payroll, IT, and vendors on interfaces, file feeds, reconciliations, testing, and data validation.

Governance & Committee Support

- Support and assist in preparing for Retirement Committee and Investment Committee meetings, including materials, plan reporting, data, analysis, and operational updates, and track follow-through on committee actions.

- Partner with Legal to maintain plan documents, amendments, summary plan descriptions, and required participant notices, ensuring plan operations align with plan terms.

- Support retirement plan audits, regulatory filings, and governance activities, providing plan reporting, data, analysis, and operational expertise to the Director and other stakeholders.

Vendor Management & Cross-Functional Partnership

- Serve as the primary operational relationship manager for retirement recordkeepers, actuaries, trustees/custodians, and other key vendors, setting clear service expectations, monitoring performance and deliverables, and holding partners accountable for timely, accurate execution.

- Partner with vendors and team members to plan, develop, and administer employee health and welfare and retirement programs.

- Serve as a senior retirement subject matter expert and trusted advisor to the Director, independently managing multiple complex priorities and collaborating across the Benefits team, Legal, Payroll, Finance, IT, and HR to deliver timely, compliant results.

Plan Design, Projects & Continuous Improvement

- Evaluate benefits offerings and recommend enhancements that align with enterprise goals, providing operational expertise on retirement strategy, plan design changes, and program enhancements, including operational impacts and vendor capabilities.

- Lead the planning and implementation of complex benefits projects and initiatives, including plan changes, regulatory requirements, vendor transitions, and system enhancements, by defining requirements, coordinating testing, and ensuring successful delivery.

- Support defined benefit plan initiatives, including actuarial valuations, funding and benefit calculation reviews, and pension risk transfer or annuity purchase projects.

- Lead stakeholder meetings and develop change management communications that explain complex retirement and benefits changes to different audiences.

- Identify and lead continuous improvement opportunities that strengthen processes, procedures, controls, automation, vendor performance, and overall program delivery.

Qualifications

Preparation, Training & Experience

- 7 – 10 years of progressive retirement plan experience, including support for large or complex employer-sponsored retirement programs.

- Strong knowledge of defined contribution and defined benefit plans, including operations, regulatory requirements, compliance testing, annual processes, and operational corrections.

- Strong working knowledge of ERISA, IRS requirements, and qualified retirement plan regulations, with experience identifying and resolving operational and compliance issues.

- Demonstrated experience with large retirement recordkeeping platforms, actuaries, and other retirement vendors, including managing vendor performance and driving issues to resolution.

- Experience supporting plan design changes, implementations, system enhancements, vendor transitions, and complex retirement projects, with strong cross-functional partnership across Legal, Payroll, and IT.

- Experience preparing materials for, or supporting, Retirement and Investment Committees, with an understanding of fiduciary responsibilities and plan governance.

- Strong analytical and data skills, including advanced Microsoft Excel capabilities and experience analyzing retirement plan data, reconciliations, exceptions, and operational controls.

- Strong project management, problem-solving, and communication skills, including leading stakeholder meetings and developing change management communications, with the ability to work independently, manage competing priorities, and explain complex retirement issues to different audiences.

- Working knowledge of health and welfare benefit programs and how they integrate with retirement programs.

- Familiarity with financial well-being programs, participant education, and retirement readiness metrics.

- Familiarity with Puerto Rico and Canadian retirement plan requirements is a plus.

- Retirement or benefits professional designations, such as CEBS, QKA, QPA, or ERPA, are a plus.

- Bachelor’s degree or equivalent relevant experience required.

Open to US employees only

Employees may apply for a new role after completing 12 months of employment in their current position.

Employees should review all role requirements and apply only for positions for which they are eligible. Hiring processes may vary by country, including differences in procedures, requirements, and timelines. For country-specific details, please consult your local recruiting / HR team.