Nestle Director Retirement & Executive Compensation in Solon, Ohio
Foods people love. The life beyond what you imagined. And the city that rocks.
When you partner Nestl USA and Northeast Ohio, the result is a rich experience that offers you a fulfilling personal and professional life.
Did you know that the Cleveland metropolitan area is consistently ranked as one of the most affordable and livable regions in the US? From its diverse communities to its endless arts, entertainment and sports experiences, Cleveland continues to rock.
At our Nestl USA Cleveland campus, located in the Solon suburb of Cleveland, you will discover the ways that Nestl USA values and supports our employees and community. Offering you a strong culture with competitive benefits, you will have limitless opportunities to learn, and advance your career. Giving back continues to be a part of the Nestl tradition. As the world s leading nutrition, health and wellness company, our focus is not only about nourishing our customers, it s about enriching you.
Overview of Responsibilities:
Management & development of the Defined Benefit (pension) staff, currently numbering 12 employees
Develop and implement strategy to mitigate risk and manage balance sheet and income statement liabilities
Monitor system performance and processes to ensure compliance with all legal and regulatory requirements, Nestl internal standards and Internal Revenue Code Section 409A
Manage relationship with internal & external business partners as it relates to Nestl Pension plans, including; Nestl legal department; ERISA Counsel (External); Pension System Recordkeeper & Call Center (Willis Towers Watson); Willis Towers Watson (Actuary and QDRO Administrator); Northern Trust (Trustee); Nestl Business Services, KPMG (audit), and Nestl Retirement Investment Department (investments), and Xerox (Record Imaging Consultant)
Ensure that all systems, processes and procedures of department accurately result in correct transmission of date and accurate calculation of pension benefits and payments to employees and retirees
In conjunction with ERISA counsel, ensures accurate interpretation and execution of plan provisions and has final approval of all plan amendments
Develops and delivers plan design proposals and associated costs for labor contract negotiations
Researches and creates plan communications, manages internal plan web sites and online tools for participants and delivers presentations to management and employees.
Manages development, implementation and execution of plan changes, mergers, acquisitions, divestitures and system conversions with appropriate internal partners and external service providers.
Ensures compliance with various government regulations (ERISA, IRS, DOL) and manages plan audits and filing submissions (e.g., Form 5500, PBGC); coordinates dissemination of required participant communications (e.g., PPA, SMM, SPD).
Manage the annual actuarial valuation process ensuring all data and reporting requirements are met on a timely basis.
Collaborate with finance and retirement investment on plan accounting and audits.
Interact and manage requests from parent company pension team in Switzerland.
Manage and update management regularly on status of multi-employer pension plans, including recommendations for managing risk associated with plans. Also serves as liaison with Food Manufacturers Association on collective strategy on multi-employer union plans.
Manage department budget and trust related expenses.
Manage plan design, eligibility & communications with participants on executive compensation plans, including Long-Term Incentive Plans; Deferred Compensation Plans; executive perquisites; non-qualified retirement plans. Includes responsibility for all legal documentation of US sponsored plans, including compliance of non-US sponsored plans covering US citizens and/or residents.
Manage and oversee quarterly reporting of LTIP liabilities to US Operating Companies.
Oversee payment and proper tax reporting for all US and non-US managed LTIP payments, including Performance Share Units, Restricted Stock Units and Phantom Share Units.
Responsible for Vendor Management of deferred compensation recordkeeper.
Single Point of Contact for Executives on all executive and broad based plans (Pension, 401(k) Savings, DB & DC Executive Restoration Plans, Deferred Compensation, and post-employment benefits (COBRA and/or retiree medical)
Assess 409A implications on US sponsored plans, including elective deferred compensation plans, non-elective deferred compensation plans; severance plans.
In conjunction with Broad-based Compensation Team Lead, provide support to Executive Compensation Committee
Serve as member of Nestle Benefits Committee (oversees plan design of all US Health & Welfare plans).
Bachelor s Degree in Finance or Actuarial Science
Ten Years of progressive experience in Pension Administration or Consulting
Experience in Executive Compensation (or other area of Total Rewards preferred
2-4 Years of Supervisory Experience Preferred
Ability to effectively lead, develop and manage teams
Strong attention to detail required
Ability to recognize problems and research, formulate and implement solutions to complex situations
Ability to understand plan documents and articulate and educate team on impacts of plan changes to ensure that systems/processes are appropriately modified
Advanced understanding and current knowledge of ERISA, DOL and IRS regulations relating to qualified and non-qualified defined benefit plans, including IRC Section 409A
Strong vendor management and time management skills
Superior written and verbal communication and presentations skills to effectively address all levels within an organization
Results focused with strong innovation/renovation skills
Ability to react quickly and manage in a fast-paced, dynamic environment
Strong project and change management skills
The Nestl Companies are equal employment and affirmative action employers and looking for diversity in qualified candidates for employment.
Category: Human Resources, Nestle USA