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Location: Peoria, IL, United States
Date Posted: Sep 26, 2019
At Caterpillar, you build what matters—whether it’s the career you want, crucial work skills, strong relationships or new digital technologies. There are big jobs to be done worldwide—building critical infrastructure, bolstering local economies, meeting the demand for energy—and that work is powered by our people.
As a Senior Total Rewards Consultant, you will provide services to internal customers in the area of defined benefit plans. Key areas of responsibility encountered in this role may include analyzing customer needs, scope solutions, develop tactical plans, deliver solutions and evaluate results. This position may also involve special projects as needed.
*Manage and monitor all projects and processes related to Caterpillar's U.S. sponsored Defined Benefit pension plans. Provide and coordinate overall business strategy and plan design. Manage external third party vendor, while ensuring quality service is provided and Caterpillar remains in compliance with government regulations.
*Provide Caterpillar with technical expertise regarding Benefit Plans and for the daily management of the administrative vendor including resolution of any issues that may arise. Responsible for issues that may be resolved by the administrative vendor or that may require research in-house at Caterpillar due to various complexities. Must ensure all issues are completely resolved within given timeframes.
*Establish relationships and work with administrative vendor to revise any processes that currently are not producing quality results, accuracy or superior participant servicing, and identify any cost savings opportunities. Also responsible to field complaints from participants related to administrative vendor, identify the root cause of the issue and work with vendor to ensure the root cause is appropriately addressed to avoid repeated issues.
*Acts as internal project manager for projects being executed by vendor and internal projects related to the plans in order to ensure projects stay on track, project plans are documented and in place and are consistently updated. Ensures accurate specifications and performance guarantees for any changes or projects.
*Oversees process for participant claims and ensures appeals are appropriately presented to the Appeals Committee. Ensures plans are in full compliance with all government agencies and regulations and are being administered according to the most current plan documents. Ensures legally required audits are performed and completed timely.
*College or university degree or equivalent experience
*6-8 years of relevant experience in employee benefits; in absence of a degree 9-10 years of relevant experience is required.
*Deep technical expertise in retirement plan administration and ERISA
*Strong focus on compliance related work
*Strong skill set in data analytics
Top Candidates Will Also Have:
*Finance related knowledge including general accounting and financial concepts as they apply to employee benefit plans
*Certified Pension Consultant, Qualified Pension Administrator or similar designation through ASPPA or other industry organizations
*Strong interpersonal skills
*Excellent written and verbal communication skills
*Strong ability to problem solve
*Ability to multi-task with strong attention to detail
Relocation assistance is not available for this position. Any relocation costs will in incurred by the candidate.
Caterpillar is not currently hiring individuals for this position who now or in the future require sponsorship for employment visa status; however, as a global company, Caterpillar offers many job opportunities outside of the U.S. which can be found through our employment website at www.caterpillar.com/careers.