Working with Us Challenging. Meaningful. Life-changing. Those aren't words that are usually associated with a job. But working at Bristol Myers Squibb is anything but usual. Here, uniquely interesting work happens every day, in every department. From optimizing a production line to the latest breakthroughs in cell therapy, this is work that transforms the lives of patients, and the careers of those who do it. You'll get the chance to grow and thrive through opportunities uncommon in scale and scope, alongside high-achieving teams. Take your career farther than you thought possible.
Bristol Myers Squibb recognizes the importance of balance and flexibility in our work environment. We offer a wide variety of competitive benefits, services and programs that provide our employees with the resources to pursue their goals, both at work and in their personal lives. Read more: careers.bms.com/working-with-us .
Position Summary We are seeking a highly skilled Retirement Professional with a focus on 401(k) savings and retirement plan management. This position will play a crucial role in ensuring the efficient administration, compliance, and optimization of our 401(k) program. It offers a unique opportunity to contribute to the financial wellbeing of our employees while working in a dynamic and collaborative environment.
Operational responsibilities include, but are not limited to, the operations, execution, administration, and operational communications of Bristol-Myers Squibb (BMS) benefits, including the 401(k) plan, Benefits Equalization Plan (BEP), and other retirement programs. Responsibilities include managing the implementation of new and modified 401(k) savings and retirement plans, covering processes, procedures, change management, system requirements, vendor requirements, and documentation. The position is also responsible for handling day-to-day operational activities, ensuring effective plan design implementation, streamlining processes, and maintaining adherence to regulatory and compliance requirements. Additionally, the role requires addressing, solutioning and resolving vendor issues, Tier 2 inquiries, escalations, ad-hoc inquiries, as well as ensuring the timely completion of audit requests and providing necessary information for compliance, audits, contract management, and governance.
This role will partner closely with Total Rewards Strategy and Service Delivery Management Partners, People Services Capability Center teams (including Payroll), Third-Party Vendors, Legal, the Corporate Secretary's office, Compliance, and Finance.
This position is integral to maintaining the integrity and efficiency of our retirement programs, ensuring they meet the needs of our employees and comply with all regulatory requirements. If you are a dedicated professional with a passion for retirement plan management, we invite you to join our team and make a meaningful impact on the financial future of our workforce.
Essential Functions
- Subject matter expert for all US/PR qualified and non-qualified savings and retirement plans - operations and regulatory environment.
- Accountable for the delivery of excellent customer experience and monitoring trends and issues that may impact the employee experience with the plan. Manages the operations and administration of the BMS US/PR Savings and Retirement Plans, including contributions, distributions, loans, withdrawals, vesting, payroll deductions, statutory and legal filings, coordinating with finance, tax, legal, internal and external auditors, and applicable vendors.
- Ensures robust controls are embedded in each process and operating as designed; supports the implementation and adherence to SOX controls and compliance, audit activities as needed, ensures compliance for all plan documents and statutory requirements related to benefits, savings and retirement plans and programs operations.
- Actively participates in the audit process and fulfils regulatory reporting requirements, including the non-discrimination testing, blackout restrictions and relevant financial reporting.
- Liaises with third party vendor partners, payroll, and other teams, to promptly resolve operational and systems issues.
- Documents and deploys processes for savings and retirement plan operations and service support, with process improvement and customer experience focus.
- Participates in the design, development, testing and implementation of websites, enrollment tools, and other content and communication.
- Responsible for development of functional requirements for savings and retirement plan integrations (files) between HR system, payroll system, benefits systems, ensuring data files are accurate.
- Operationalizes the annual BEP/savings elections, annual additional savings contributions file, etc.
- Acts as point of contact for escalation and resolution of Tier 2 queries, plan interpretation and appeals.
- Responsible for ensuring internal processes are documented and updated versions are maintained.
- Responsible for ensuring Knowledge Articles are updated and provide recommendations for content articles to resolve common questions.
- Supports communicating change and develops and delivers ongoing learning/development of functional expertise of the extended People Services teams.
- Collaborates with Benefit Operations teams in the implementation and standardization of operational changes, reports and interfaces to reduce costs and improve efficiency and client satisfaction.
Experience Preferred
- 5-7+ years' experience in human resources service delivery, within operational/administrative areas in a highly matrixed, shared service environment, strongly preferred.
- 5+ years of experience overseeing retirement plan administration, with a focus on 401(k) savings plans.
- Strong knowledge of ERISA, IRS regulations, DOL guidelines and other relevant compliance standards.
- Experience working with third-party administrators, recordkeepers and investment managers.
- Demonstrated deep functional knowledge of US Savings and Retirement programs, trends, best practices and recent legislative and other changes, required. Additional experience in PR preferred.
- Strong working knowledge and understanding of SOX controls as they relate to US Savings 401(k) plans operations and administration. Additional experience in PR preferred.
- Experience with system integrations, reporting requirements and specifications to maximize integration process efficiencies, strongly preferred.
- Demonstrated ability to influence stakeholders at all levels in the organization, preferably in a highly matrixed organization.
- Demonstrated analytical abilities, attention to detail and the ability to successfully manage multiple competing tasks and priorities.
- Experience coordinating large project plans using relevant tools and strong organization skills.
- Knowledge and understanding of process flows, mapping and relevant tools.
- Ability to work independently as well as collaboratively within internal and external team environments.
- Advanced/expert level MS Excel, required.
- BS, BA or graduate degree in business or equivalent experience.
Ideal Candidates Would Also Have:
- Experience working with: Workday, ServiceNow, ADP and vendor management.
- Certified Employee Benefits Specialist (CEBS) or equivalent Industry designation, preferred.
#LI-Hybrid
If you come across a role that intrigues you but doesn't perfectly line up with your resume, we encourage you to apply anyway. You could be one step away from work that will transform your life and career.
Uniquely Interesting Work, Life-changing Careers With a single vision as inspiring as Transforming patients' lives through science™ , every BMS employee plays an integral role in work that goes far beyond ordinary. Each of us is empowered to apply our individual talents and unique perspectives in a supportive culture, promoting global participation in clinical trials, while our shared values of passion, innovation, urgency, accountability, inclusion and integrity bring out the highest potential of each of our colleagues.
On-site Protocol BMS has an occupancy structure that determines where an employee is required to conduct their work. This structure includes site-essential, site-by-design, field-based and remote-by-design jobs. The occupancy type that you are assigned is determined by the nature and responsibilities of your role:
Site-essential roles require 100% of shifts onsite at your assigned facility. Site-by-design roles may be eligible for a hybrid work model with at least 50% onsite at your assigned facility. For these roles, onsite presence is considered an essential job function and is critical to collaboration, innovation, productivity, and a positive Company culture. For field-based and remote-by-design roles the ability to physically travel to visit customers, patients or business partners and to attend meetings on behalf of BMS as directed is an essential job function.
BMS is dedicated to ensuring that people with disabilities can excel through a transparent recruitment process, reasonable workplace accommodations/adjustments and ongoing support in their roles. Applicants can request a reasonable workplace accommodation/adjustment prior to accepting a job offer. If you require reasonable accommodations/adjustments in completing this application, or in any part of the recruitment process, direct your inquiries to adastaffingsupport@bms.com . Visit careers.bms.com/ eeo -accessibility to access our complete Equal Employment Opportunity statement.
BMS cares about your well-being and the well-being of our staff, customers, patients, and communities. As a result, the Company strongly recommends that all employees be fully vaccinated for Covid-19 and keep up to date with Covid-19 boosters.
BMS will consider for employment qualified applicants with arrest and conviction records, pursuant to applicable laws in your area.
If you live in or expect to work from Los Angeles County if hired for this position, please visit this page for important additional information: https://careers.bms.com/california-residents/
Any data processed in connection with role applications will be treated in accordance with applicable data privacy policies and regulations.
