VP, Benefits

Company: Disability Solutions
Location: Hartford
Posted on: January 31, 2025

Job Description:

Together we fight for everyone's opportunity for a better financial future. We will do this together - with customers, partners and colleagues. We will fight for others, not against: We will stand up for and champion everyone's access to opportunities. The status quo is not good enough ... we believe every individual and every community deserves access to financial opportunities. We are determined to support both individuals and communities in reaching a better financial future. We know that reaching this future depends on our actions today.Like our Purpose Statement, Voya believes in being bold and committed to action. We are committed to a work environment where the differences that we are born with - and those we acquire throughout our lives - are understood, valued and intentionally pursued. We believe that our employees own our culture and have a responsibility to foster an environment where we all feel comfortable bringing our whole selves to work. Purposefully bringing our differences together to positively influence our culture, serve our clients and enrich our communities is essential to our vision. Are you ready to join a company with a strong purpose and a winning culture? Start your Voyage - Apply Now SUMMARY:The Vice President, Benefits serves the role of driving the strategic design and delivery of the enterprise benefits strategy for Voya. The primary focus of this role is the development, implementation, and oversight of a comprehensive benefits portfolio of qualified and non-qualified benefit programs that is competitive, inclusive, and cost-effective that positions Voya to attract, motivate, and retain engaged employees at all levels. Additionally, this role represents the target customer for Voya's Workplace product offerings (aka Client Voya).The Vice President, Benefits embraces and demonstrates support for the purpose, mission, and values of the organization through actions that are consistent with Voya's Leadership Competencies, while demonstrating behavior that aligns with our culture in all interactions with people and customers.Reports to: SVP, Total Rewards, Employee Relations and Workforce AnalyticsPROFILE REQUIREMENTS:Enterprise Benefits Strategy

• Benefits Strategy: Develop and promote benefits programs and policies aligned to support Voya's Purpose (Together we fight for everyone's opportunity for better financial future) across Workplace benefits (health and wealth) for our employees. Collaborate with HR business partners, internal business leaders, Voya's Executive Committee, and external partners to develop and execute the enterprise benefits strategy.
• Program Design and Implementation: Lead the design, implementation, and continuous improvement of employee benefits programs, including health insurance, qualified and nonqualified retirement and savings plans, HSAs, wellness initiatives, paid time off, flexible spending accounts, and other voluntary benefits.
• Lead Benefits Team: Inspire, manage, and develop a team of benefit specialists to deliver on strategic objectives.
• Data Analysis: Direct team in the analysis of market trends, best practices, benefits data, and the benefits of competitor firms to evaluate and recommend changes that will enhance Voya's ability to attract and retain top talent.
• HR Operational Excellence: Employs continuous improvement principles to ensure that all HR Benefits operations are efficient and effective while delivering both the highest quality and service and ensures flawless execution of key practices.
• Vendor Management: Lead the management of relationships with brokers, vendors, consultants, and regulatory agencies. Lead the process for vendor proposals & negotiations and evaluation of vendor performance including feedback and recommendations for changes. Collaborate with the sourcing and procurement colleagues in negotiation of contracts for services and programs with outside vendors/brokers to obtain cost-effective, maximum coverage for employees across the enterprise.
• Employee Education and Engagement: Develop communication and educational materials to help associates understand their benefits options and make informed decisions. Collaborate with HR and other teams to create and support initiatives that promote associate wellness, engagement, and satisfaction.
• Budgeting and Cost Management: Manage the benefits budget, analyze cost trends, and make data-driven recommendations to optimize resources and control expenses.
• Compliance and Governance: Ensure all benefits programs comply with federal, state, and local laws, as well as industry regulations and reporting requirements.
• Executive Reporting and Stakeholder Management: Provide regular reports to HR and enterprise leadership teams and other stakeholders on the performance, costs, and impact of benefits programs.
• Retirement and Savings Plan Committees: Provide leadership on Plan Investment and Plan Administration Committees monitoring investment options and fees, plan financials, and adherence to regulatory requirements.
• M&A: Complete due diligence on target benefit plans and advise on implications and recommendations.
• Other projects and/or duties as required by Voya's initiativesRepresenting Client Voya
  • Collaborate with Workplace Solutions product and leadership teams on new initiatives and pilot new offerings.
  • Support development of Voya's go-to-market client service model that demonstrates the value of integrated Voya product offerings.
  • Represent Voya at client advisory board meetings, industry conferences, and in client meetings as appropriate.KNOWLEDGE & EXPERIENCE:
    • Minimum of 10 years HR or relative business experience preferably in a corporate environment with at least 7 years of direct or combined experience in benefits management.
    • BA or BS in Business, HR or related field, advanced degree in relevant field preferred
    • Minimum of 5 years of direct people management experience.
    • Manage, coach, and develop team members.
    • Serve as a role model for leadership behaviors and attributes to all HR team members and the broader organization.
    • Demonstrated experience with M&A HR due diligence on full scope of benefits plans
    • Possess a growth mindset with respect to business strategy and self; willing to develop talents through hard work, effective strategies, and input from others
    • Values and fosters relationships at Voya, both within and outside of HR, including Workplace Solutions, finance, legal, and strategic partnerships; embraces a 'stronger together' mindset
    • Demonstrated experience in continuous improvement processes, initiatives, and activities to improve organizational effectiveness
    • Must possess an understanding of the business; quickly learn the organization's strategy and the industry
    • Working handle of federal, state, and local employment laws as they relate to benefits
    • Strong project management and organizational skills, bias for action and results orientation
    • Excellent presentation and facilitation skills
    • Strong problem solving and conflict resolution skills including strong interpersonal savvy and composure especially in critical events
    • Work with all levels of the organization, including executive leadership team
    • Must be able to deal with ambiguity and cope with change.
    • Proven ability to manage a wide variety of HR programs, roll-out of corporate HR initiatives, ability to change the business through creative problem-resolution, policy creation or improvement efforts
    • Proven ability to build effective partnerships with leadership teams and team members and develop effective and matrixed relationships within and outside of HR.Compensation Pay Disclosure: Voya is committed to pay that's fair and equitable, which means comparable pay for comparable roles and responsibilities. The below annual base salary range reflects the expected hiring range(s) for this position in the location(s) listed. In addition to base salary, Voya offers incentive opportunities (i.e., annual cash incentives, sales incentives, and/or long-term incentives) based on the role to reward the achievement of annual performance objectives. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Voya Financial is willing to pay at the time of this posting. Actual compensation offered may vary from the posted salary range based upon the candidate's geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked. Be Well. Stay Well. Voya provides the resources that can make a difference in your lives. To us, this means thriving physically, financially, socially and emotionally. Voya benefits are designed to help you do just that. That's why we offer an array of plans, programs, tools and resources with one goal in mind: To help you and your family be well and stay well.What We Offer
      • Health, dental, vision and life insurance plans
      • 401(k) Savings plan - with generous company matching contributions (up to 6%)
      • Voya Retirement Plan - employer paid cash balance retirement plan (4%)
      • Tuition reimbursement up to $5,250/year
      • Paid time off - including 20 days paid time off, nine paid company holidays and a flexible Diversity Celebration Day.
      • Paid volunteer time - 40 hours per calendar yearLearn more about Critical Skills At Voya, we have identified the following critical skills which are key to success in our culture:
        • Customer Focused: Passionate drive to delight our customers and offer unique solutions that deliver on their expectations.
        • Critical Thinking: Thoughtful process of analyzing data and problem solving data to reach a well-reasoned solution.
        • Team Mentality: Partnering effectively to drive our culture and execute on our common goals.
        • Business Acumen: Appreciation and understanding of the financial services industry in order to make sound business decisions.
        • Learning Agility: Openness to new ways of thinking and acquiring new skills to retain a competitive advantage. Learn more about Equal Employment Opportunity Voya Financial is an equal-opportunity employer. Voya Financial provides equal opportunity to qualified individuals regardless of race, color, sex, national origin, citizenship status, religion, age, disability, veteran status, creed, marital status, sexual orientation, gender identity, genetic information, or any other status protected by state or local law. Reasonable Accommodations Voya is committed to the inclusion of all qualified individuals. As part of this commitment, Voya will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please reference .

Keywords: Disability Solutions, Newton , VP, Benefits, Executive , Hartford, Massachusetts