Manager/Sr. Manager

1 month ago


New York, New York, United States Sullivan & Cromwell Full time

SUMMARY
The Manager / Senior Manager is responsible for the administration of the partners' retirement plans, investments and insurances.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

  • Work closely with actuaries, investment advisors, trustee and record-keeper, auditors and Members of the Investment Committee to monitor plan assets and changes in the asset portfolio.
  • Coordinate DB pension calculations and annual COLA updates and process DC distributions and annual RMDs for partners' retirement plans; projected retirement planning illustrations for partners at various investment return and inflation scenarios.
  • Work with Information Technology on annual Partner DC Plan contribution process.
  • Develop, update and maintain communications, including Plan documents, documents, summary plan descriptions, annual partner retiree medical premium letters, new partner orientation materials, and benefit memos for new and retiring partners.
  • Coordinate the preparation and review of Form 5500s and SARs for retirement and health & welfare plans, Annual Funding Notices, and PBGC filings on a timely basis to ensure compliance with IRS, DOL, and other regulatory agencies.
  • Interface with Partner Accounts, Taxation, Fiduciary Accounts, Information Technology, Payroll, and Finance departments within the Firm.
  • Act as internal subject matter expert for the partners' retirement and investment plans, including interpreting plan provisions, government legislation or regulations, and administrative requirements by handling phone/e-mail inquiries from partners, their beneficiaries, attorneys, consultants, financial planners, and plan record-keepers.
  • Interface with ERISA attorney on complex plan administrative matters, plan compliance and plan changes, execution of plan amendments, and the administration of qualified domestic relations orders (QDROs).
  • Prepare subscription documents for new investments in partners' retirement plans. Work closely with internal special counsel on the review of documents.
  • Develop and manage internal reporting of plans and plan audits. Primary Benefits Department contact for annual employee benefit plan audits. Sign off on management representation letters.
  • Maintain calendar assuring proactive rather than reactive compliance with all regulatory tasks and project deadlines
  • Handle capital calls for alternative investments in the retirement plans.
  • Reconciles contributions and distributions for alternative investments. Monitor plan record-keeper compliance with the completion of all scheduled transactions.
  • Implement policy and monitor directives of the Investment Committee; assist in the preparation of Committee presentations and agendas; coordinate with the Chair of the Committee in scheduling attendees and previewing their presentations assuring maximum efficient utilization of Committee time. Preparation of Committee minutes.
  • Coordinate Annual Partner Benefit Statements and Defined Contribution Plans Annual Valuations.
  • Prepare investment performance and plan contribution data as needed for Annual Partner's Meeting.
  • Prepare annual budget for vendors and consultants associated with the Firm's retirement plans.
  • Manage and administer renewal of Fiduciary Liability Insurance and the Group Excess Liability Insurance Plan; work with broker to answer any participant questions concerning the plans.
In addition, responsibilities related to maintaining firm and client information are to be adhered to by all employees.

This includes complying with the firm's information security policies, protecting firm assets from unauthorized access, disclosure, modification, destruction or interference, and reporting security events or potential events or other security risks to management.


QUALIFICATIONS

  • 5 years of experience in plan administration working with defined benefit and defined contribution plans; experience with 415(b) calculations.
  • A solid understanding of applicable ERISA, IRS and DOL regulations.
  • Proactive leadership, strong written and oral communication skills.
  • Ability to interact effectively with people at all organization levels of the Firm.
  • Ability to handle confidential and sensitive information with the appropriate discretion.
  • Previous law firm or partnership experience desirable.
  • Strong knowledge HRIS systems and data transmission; PeopleSoft knowledge a plus.
  • Strong knowledge of MS-Office tools - Word, Excel, Power Point, etc.

EDUCATION and/or EXPERIENCE
Bachelor's degree; concentration in actuarial science, accounting or business-related fields preferable.

WORK ENVIRONMENT

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Compensation

The base salary offered for this role will be between $150,000 and $250,000.

When determining a candidate's compensation offer, elements unique to each person are taken into consideration including but not limited to skill set, experience level, performance, professional certifications, degrees and location, as well as the needs of the Firm.


The total compensation package for this position may include overtime pay, discretionary bonuses and other benefits. For a more comprehensive list of employee benefits, please visit

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