Benefits Effectiveness Director

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

The Benefits Effectiveness Manager with Leadership experience will support operational efficiencies, assist with mergers, and acquisition project management, expertise of all benefits area required. Lead third party benefit vendor risk reviews CUECs, TPRM OGM tasks and reporting by collaborating with internal benefits managers and HR Risk. Work with consultants in the review and selection process for RFIs RFPs. Cost management analysis, ROI of programs by leading benefits analytics. Provide process improvement program recommendations. Experience with benefits plan regulatory requirements, global benefits experience. Manage Retirement Team with view towards efficiencies to build an agile team.

Essential Functions

– The Reward area is responsible for ensuring that the bank has competitive and cost-effective reward programs, policies, and practices, developing and executing the banks reward strategy.

– Leadership experience, manage and support key benefits areas

– Fiduciary oversight of retirement programs

– Consults with third parties to develop a consistent best practice approach to align with internal TPRM requirements

– Emphasis on cost-effective programs, operationally efficient processes, and comprehensive data analytics

– Manage escalations and day to day retirement program administration and platform needs

– Delivering benefits solutions and policies in line with business strategies

– Accountable for multiple processes, programs, vendor payments, input on the department’s budget

– Routinely uses significant judgment on moderate to complex business problems

– Influences timelines, expectations, and proactively negotiates across departments and sometimes functional management to meet project deadlines and goals

– Continually collaborate with staff to build SME skills and ongoing regulatory changes

– Develop staff to meet current and long-term department needs and opportunities.

– Develop and maintain tactical and strategic relationships with peers within the department and functional areas

Location Expectations

The role offers a hybrid/flexible schedule, which means theres an in-office expectation of 3 or more days per week and the flexibility to work outside the office location for the other days.

Basic Qualifications

– Bachelor’s degree and equivalent work experience

– Typically has 10 or more years of related experience

Preferred Skills/Experience

– Leadership skills, experience managing staff and administering retirement programs

– Strong regulatory requirements and risk reviews knowledge and experience including ERISA, DOL and IRS guidelines

– Strong organizational effectiveness and analytical skills

– Competent understanding of benefit programs and competitive environment

– Experience working with mergers and acquisitions, emphasis on benefit plan equalization

– Knowledge of global benefits

– Demonstrated experience with reviewing annual plan tax filings: SOX, SOC1, and SOC2

– Experience with vendor contract reviews, third party vendors risk, risk management reviews, and internal and external audit reviews

– RFP/RFI and benefits plan cost analysis experience

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants (https://careers.usbank.com/global/en/disability-accommodations-for-applicants) .

Benefits:

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. Thats why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):

Healthcare (medical, dental, vision)

Basic term and optional term life insurance

Short-term and long-term disability

Pregnancy disability and parental leave

401(k) and employer-funded retirement plan

Paid vacation (from two to five weeks depending on salary grade and tenure)

Up to 11 paid holiday opportunities

Adoption assistance

Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

EEO is the Law

U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors. Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS (https://eeoc.gov/sites/default/files/2023-06/22-088EEOCKnowYourRights6.12ScreenRdr.pdf) EEO poster.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program (https://careers.usbank.com/verification-of-eligibility-for-employment) .

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $165,325.00 – $194,500.00 – $213,950.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Job postings typically remain open for approximately 20 days of the posting date listed above, however the job posting may be closed earlier should it be determined the position is no longer required due to business need. Job postings in areas with a high volume of applicants, such as customer service, contact center, and Financial Crimes investigations, remain open for approximately 5 days of the posting listed date.