Retirement Benefit Specialist

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At Northwestern Mutual, we are strong, innovative and growing. We invest in our people. We care and make a positive difference.

At Northwestern Mutual, we believe relationships are built on trust. That our lives and our work matter. These beliefs launched our company over 160 years ago. Today, they're just a few of the reasons why people choose to build careers at Northwestern Mutual.

We're strong and growing. In a company with such a long and storied history, this may be the most exciting and important time to be a part of Northwestern Mutual. We're strong, innovative and growing.

We invest in our people. We provide opportunities for employees to grow themselves, their career and in turn, our business.

We care. We make a positive difference in our communities. Nationally, thousands have benefitted from our support of research and programs to fight childhood cancer. Each year, our Foundation, employees and financial representatives donate time, talent and financial support to causes they're passionate about.

What you will do:

Calculate, verify, reconcile, and report on tax-qualified and non-tax-qualified retirement benefits for Northwestern Mutual home office and field force plan participants. Possess and apply a high-level understanding of the interrelation between retirement benefit databases, data sources, program calculations, and related applications and systems. Act as liaison to a junior team member, intra- and inter-department areas, and auditors involving a broad range of issues.

How you will do it:

Benefit Calculation

To provide plan participants with accurate information on the benefits they have accrued to-date:

• Independently create benefit quotes using established systems and manual calculations. Recognize any benefit amount irregularity and resolve variance related to data or calculation methodology issues.
• Calculate bridged service dates to account for previous plan-eligible service, employing a consistent application of current and historical plan provisions.

Benefit Reconciliation

To ensure the accuracy of ongoing benefit payments:

• Perform daily and monthly reconciliation of data between the Actuarial, Life Benefits, and external vendor recordkeeping databases.
• Complete annual calculation and verification of
• Cost-of-living-adjusted non-tax-qualified benefit payment amounts, and
• Field force Total Rewards data, which include identifying test cases, resolving any data discrepancies, and maintaining the testing spreadsheet.

Benefit Administration

To respond to regulatory changes and company decisions that modify benefits:

• Utilize and at times create business requirements to initiate collaboration with the Actuarial Systems Division, the pension actuary, and other departments to define and refine the modification rules.
• Identify and verify testing output, and formally sign off on changes to the Actuarial databases, programs, systems, and applications.

Benefit Plans Liaison

• Provide training and act as immediate consultant to junior team member.
• Act as liaison with Finance, Enterprise Risk Solutions, and external auditors during periodic plan audits. Interpret current and prior plan provisions and documented business rules to substantiate benefit amounts.

Bring Your Best! What this role needs:

• Bachelor's degree, with emphasis on courses in mathematics, accounting, or finance
• Strong analytical, mathematical, and problem-solving skills
• Excellent written and verbal communication skills
• High-level skill in Excel
• Strong focus on numerical detail

Benefits:

Great pay package, 401K, Company sponsored retirement plan, Educational assistance, Performance based incentive pay, Medical, dental and vision insurance, Parental leave, Caregiver time off….and more

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Compensation Range:

Pay Range - Start:

$44,310.00

Pay Range - End:

$82,290.00

Northwestern Mutual pays on a geographic-specific salary structure and placement in the salary range for this position will be determined by a number of factors including the skills, education, training, credentials and experience of the candidate; the scope, complexity as well as the cost of labor in the market; and other conditions of employment. At Northwestern Mutual, it is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case. Please note that the salary range listed in the posting is the standard pay structure. Positions in certain locations (such as California) may provide an increase on the standard pay structure based on the location. Please click here for additional information relating to location-based pay structures.

Grow your career with a best-in-class company that puts our client's interests at the center of all we do. Get started now!

We are an equal opportunity/affirmative action employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, gender identity or expression, sexual orientation, national origin, disability, age or status as a protected veteran, or any other characteristic protected by law.

If you work or would be working in California, Colorado, New York City, Washington or outside of a Corporate location, please click here for information pertaining to compensation and benefits.

FIND YOUR FUTURE

We're excited about the potential people bring to Northwestern Mutual. You can grow your career here while enjoying first-class perks, benefits, and commitment to diversity and inclusion.

• Flexible work schedules
• Concierge service
• Comprehensive benefits
• Employee resource groups