Assistant Director: Retirement Services

Overview

Mayer Brown is an international law firm positioned to represent the world’s major corporations, funds, and financial institutions in their most important and complex transactions and disputes. We are recognized by our clients as strategic partners with deep commercial instincts and a commitment to creatively anticipating their needs and delivering excellence in everything we do.We are a collegial, collaborative firm where highly motivated individuals with an unwavering commitment to excellence receive the opportunity, support, and development they need to grow, thrive, and realize their greatest potential all while supporting the Firm’s client service principles of excellence, strategic partnership, commercial instinct, integrated strengths, innovation, and collaboration across our international firm.

If you thrive in a collaborative environment that values exceptional client service, initiative, professionalism, responsiveness, and adaptability, we invite you to consider joining our Benefits department in our Chicago, or New York office as an Assistant Director: Retirement Services.

This position is responsible for managing the administration and analysis of two qualified retirement plans (401(k) Savings Plan and Cash Balance Pension Plan (CBP)), unfunded pension plan and retiree medical. Assists CFO and Senior Director: Global Tax and Partnership Accounting and Senior Director: Global Benefits and Well-Being with administration of unfunded partner retirement plan. Assures compliance with all Federal and State laws and regulations affecting the administration of these plans, including contracts and SPD review.

Responsibilities

Essential Functions:

Qualified Pension Plans and Retiree Medical

• Acts as key contact for all partner retirement benefit programs (two qualified ERISA plans: 401(k), CBP and one non-ERISA Unfunded pension plan and retiree medical)
• Coordinates all CBP communications (Irrevocable Election for Lateral New Hires, Newly Eligible, Age 62 SOBN
• Works directly with in-house counsel on any changes as result of Amendments to CBP (NTIP, Portal Updates, Plan Summary, SPDs, etc.)
• Develops and implements policies and procedures for the Firm’s retirement plans. Ensures appropriate audit procedures for such plans
• Reviews monthly retirement plan (O3) actuary Data Change Log and reconcile any participant changes and approved monthly CBP funding requirements
• Oversees Schwab submissions to Partnership Accounting with Projected annual Retirement contributions (voluntary, RFC and CBP) quarterly and as needed for partnership K1 statements
• Responsible for managing CBP QDRO procedures and communications
• Manages vendors for out-sourced processes such as Distributions requests (Loan, Terminations, hardships)
• Reviews monthly, quarterly and annual reports from Schwab. Reports include delinquent loans, terminated participants <$5,000, Participant’s eligible for RMDs, 1099 distribution review, forfeitures, 5500 return, and invoices
• Balances 401(k) forfeiture accounts and determine amount available for use each year’s non-Partner RFC
• Works with 401(k) record-keeper regarding new features or enhancements to the Savings Plan
• Oversees information provided to actuary for 401(k) Regular Firm Contribution(s). This includes:
• Arrange for funding requirements
• Data regarding employee compensation and various other 11/30 and 12/31 information
• Coordinates communication of plan info to participants, including Savings plan meetings and printed materials in conjunction with Savings Plan Communications strategy
• Oversees the Partner quarterly and yearly 401(k) funding contributions via excel spreadsheet and communications.
• Reconciles payroll’s NFL partner deduction report (partner premium report) and monthly partner loan funding files for Schwab
• Coordinates annual audit of retirement plans to include the review of the 5500s, SARs, annual PBGC premium and Annual Funding Notice (CBP)
• Works with the Investment Management Firm on investment changes that were approved by the Firm’s Investment Committee, including but not limited to the CBP trustee distribution requests related to the changes
• Responsible for assuring all retirement plan related invoices are processed timely
• Oversees the coordination of the Annual Social Security and Medicare meetings

Committees

• Participates as member of the Administrative Investment Committee which oversees the administration of the Firm’s ERISA pension plans
• Attends the Investment Committee meetings and reviews the drafts minutes before they are sent to the committee for approval
• Participates as a member of the Benefits Welfare Committee

Unfunded Pension Plan

• Review and approve pension calculation
• Provide requirement payment information to Partnership Accounting
• Responsible for the annual cost of living increase calculations

Other

• Assures U.S. Equity Partner compensation (annual SEI) is maintained in PeopleSoft for benefit purposes (specifically disability) and compensation history, along with annual RFC contributions for all eligible participants is loaded for reporting purposes
• Manages internal communications including but not limited to; benefits guides, new hire orientation presentations, etc.
• Develops new programs and streamline processes as appropriate
• Assists the Assistant Director: Health & Welfare on H&W plan renewals, reporting, meetings, etc.
• Assists with the annual open enrollment process
• Oversees the maintenance of employee benefit records related to retirement
• Prepares and/or distributes management reports in response to requests
• Oversees the maintenance of retirement contents on GlobalNet
• Cross train on Assistant Director: Health & Welfare job duties
• Assist with ACA compliance related retirees on retiree medical. Partners with HRIS, HRIT and Assistant Director: Health & Welfare to assure PeopleSoft’s BenAdmin programming, interfaces, configuration changes, testing, etc. program requirements are met
• Performs other duties as assigned or required to meet Firm goals and objectives

Qualifications, Experience and Personal Attributes

Education/Training/Certifications:

• Bachelor’s degree in a related field required
• Advanced degree preferred

Professional Experience:

• Minimum of five years of previous benefits/retirement management experience required
• Prior experience working in a professional services setting preferred

Technical Skills:

• Proficiency in Microsoft Office products, required
• Extensive experience with defined contribution/benefit plans (savings/CBP) and unfunded/non-qualified plan administration, required
• Experience with H&W insurance programs administration, preferred
• Strong knowledge of automated systems, both with third-party vendors as well as payroll/HRIS systems as it relates to benefit programs, required
• Strong analytical and numerical ability, required
• Proven working knowledge of ERISA, Department of Labor and IRS regulations as they pertain to benefit and retirement plan programs, required
• Hands on knowledge of Excel required and PeopleSoft Query reporting preferred

Performance Traits:

• Must be highly analytical and have ability to manage annual projects from planning through to final audit and maintenance of enrollment in plans
• Must be able to communicate well in both written and verbal form
• Strong written and verbal communication skills, able to communicate effectively and in a professional manner with all levels of the Firm and outside vendors
• Ability to work in a diverse team environment and effectively support the demanding needs of the Firm
• Ability to work under pressure, meet deadlines with shifting priorities
• Must be a self-starter with a high level of initiative
• Strong customer service skills, able to anticipate needs and exercise independent judgment
• Strong attention to detail, organizational skills and the ability to handle multiple projects
• Maintains confidentiality and exercises discretion
• Exercises solid strategic thinking and problem-solving skills

Management Accountabilities:

• Manages processes for direct reports in regards to performance appraisals, annual compensation, goal setting and performance counselling
• Demonstrated leadership and supervisory experience
• Operational budget analysis and recommendations
• Conducts analysis of staffing levels and participation in the recruitment process
• Able to determine and implement change processes to improve workflow efficiencies
• Process- and service-oriented with strong leadership and project management skills
• Able to set priorities and delegate in an efficient manner

Physical Requirements:

• May require occasional lifting of up to 20 lbs.
• May require travel to other offices as needed

This description is not exhaustive, and the Firm may modify it at any time at its sole discretion; nothing herein creates an employment contract or alters the at-will nature of employment.

We offer competitive compensation and comprehensive benefits, including medical/dental/vision/life/and AD&D insurance, 401(k) savings plan, back-up childcare and eldercare, generous paid time off (PTO), as well as opportunities for professional development and growth.

We are committed to providing equal opportunity and reasonable accommodations to applicants and employees with disabilities and disabled veterans. To request an accommodation related to the application process or interview, please View email address on click.appcast.io. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or protected veteran status.

Mayer Brown works with select external search firms that have been vetted against our standards. Firms without a contract or agreement with Mayer Brown are not authorized to represent that they are working with the Firm, nor are they entitled to placement fees. Mayer Brown does not accept unsolicited CVs from external recruiters. Submission of an unsolicited CV to Mayer Brown or any of its Partners or employees will not establish any right of priority for the submitting agency.

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Posted Pay Range

The typical pay scale for this position is between USD $176,000.00/Yr. and USD $234,000.00/Yr., although the actual wage or salary could be lower or higher if the candidate's education, experience, skills and internal pay alignment are different from those specified. #J-18808-Ljbffr