Job Description

:

Job Title: HR Pensions and Benefits Manager

Corporate Title: Senior Vice President

Location: London

Company Overview:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We\xe2\x80\x99re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

The Team:

The EMEA Benefits Team is responsible for the governance and design of benefits programs across the EMEA region. Reporting to the Head of Pensions and Benefits EMEA, you will be responsible for the establishment and oversight of pensions and benefits programs in UK and Ireland, which will contribute to the bank\xe2\x80\x99s mission to be a great place to work.

Role Description:

Within your role, you will be responsible for the bank\xe2\x80\x99s Defined Contribution and closed Defined Benefit pension plans, with assets of c\xc2\xa33.5bn. You will work closely with Plan Trustees as well as partners across the Enterprise to oversee the governance and risk of the plans.

You will work with three key Trustee boards in the UK and Ireland, to support their fiduciary responsibilities as well as considering outcomes. You will be instrumental in ensuring alignment of the plans with then bank\xe2\x80\x99s overall pensions and benefits strategy. You will be instrumental in supporting the development of Pensions and Benefits strategy in the UK and Ireland whilst considering competitive landscape and business strategy.

Responsibilities:

Oversee the pensions and benefits programs in the UK & Ireland and guide, coach and supervise on a day to day basis a team of 6 (3 pensions and 3 benefits).

Manage over 30 bank vendors and work with vendor partners to ensure vendor compliance and problem resolution. You will drive effective vendor partnership through effective use of vendor client relationship management vendor scorecards and vendor SLAs.

Partnering with Global information Security (GIS) partners to ensure vendor awareness and team compliance with GIS policy.

Drive the strategic development of flexible benefits proposition in the UK and Ireland, including the tax and social security impact of benefits across both countries.

Work with bank and Trustee vendors to ensure plans are well governed and managed; You will act as secretary to the Trustee / business support partner in in ensuring fiduciary and bank partnership.

Partnership with payroll, tax and compensation teams to ensure compliance and plan governance whilst ensuring effective operational delivery.

Audit the plans and programs on a regular basis to ensure all benefits offered meet the program policy terms. Your remit will include the benchmarking of our plans and programs to ensure they meet the strategic aims and are competitively positioned within our peer group.

Develop and drive communications strategy to ensure drive employee engagement in the bank\xe2\x80\x99s plans and programs.

Partners with finance in the UK and the US to ensure they have a clear understanding of DB plan assets and liabilities, changing in assumptions and changes in Trustee strategy.

What we are looking for:

Educated to degree level or equivalent experience.

You will have a professional qualification in pensions and/or benefits (FPMI, APMI). A project qualification such as PRINCE2 would be helpful

You will be an experienced Benefits professional ideally in the financial services or professional services sector and have excellent industry knowledge and connections with providers and vendors across the industry as well as peers.

Excellent communication skills; ability to simplify information as well as adapting this to the audience / stakeholder. You will have experience of communicating at senior levels and the ability to coach encourage and develop junior members of the team.

Excellent Project focussed skills with the ability to multi-task projects simultaneously allied to HR partnership skills with the ability to work with key HR stakeholders to ensure you meet internal client needs.

Dispute resolutions and employee escalations in the UK and Ireland. You will have a deep understanding of the technical aspects of DB and DC Pensions in the UK and Ireland.

A clear understanding of pensions accounting from a UK and US GAAP perspective; you will have an understanding of the key factors impacting P&L and Balance Sheet.

Demonstrable understanding of the capital impact of DB Pensions on UK regulated entities and have experience of advising on the impact of DB Pensions at board level.

UK

Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner

Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons

20 days of back-up childcare including virtual tutoring and 20 days of back-up adult care per annum

The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc

Use of a flex fund to use towards benefits

Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services

Ability to donate to charities of your choice directly through payroll and the bank will match your contribution

Opportunity to access our Arts & Culture corporate membership programme and receive discounted entry to some of the UK and Ireland\xe2\x80\x99s most iconic cultural institutions

Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local area

Bank of America

Good conduct and sound judgment is crucial to our long term success. It\xe2\x80\x99s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.

Bank of America