Associate Benefits Director - Portfolio Strategy

About the Role

Responsible for the management of Novo Nordisk Inc.'s employee benefit programs including vendor performance, financial tracking, and compliance with applicable laws and regulations. Leads requests for proposals (RFPs), contract negotiations, and implementation of new or modified employee benefits programs and services; oversees existing plans. Identifies and executes continuous process improvement opportunities using data-driven decision making. Evaluates and compares existing company benefits with those of other employers; develops specific recommendations for review by leadership to ensure that the benefit programs remain competitive and cost-effective. Participates in benefit committees/councils and other governance oversight functions.

Responsibilities

• Provide management and oversight of Novo Nordisk Inc.'s benefits program including but not limited to medical, prescription drug, dental, vision, life insurance, 401(k) / Money Purchase Plan (MPP), executive benefits, disability/leave benefits, health and welfare benefits administration, and COBRA administration.
• Develop, implement, and manage procedures relating to benefit plan compliance with federal, state, and local regulations, including HIPAA, COBRA, FMLA, ADA, ERISA, and the Internal Revenue Code.
• Interpret benefit plan provisions and resolve associated conflicts and participant escalations.
• Lead requests for proposals (RFPs) and contract renewal negotiations.
• Implement new benefit programs and approved benefit changes with applicable vendor partners.
• Maintain vendor relationships and ensure timely, accurate, compliant delivery of services. Ensure SLAs are achieved and/or action plans developed and implemented to address deficiencies.
• Identify continuous process improvement opportunities and implement approved changes in partnership with outsourced vendors.
• Contribute to the development and maintenance of a benefits communication strategy.
• Provide proactive thought leadership and effective collaboration across the Global PLP COE various functional areas.
• Contribute benefits subject matter expertise to any global design or long-term strategy for the North America Region and/or broader company strategy.
• Evaluate and compare existing company benefits with those of other employers by analyzing surveys and other sources of information. Develop specific recommendations for review by management.
• Contribute to the development of annual and multi-year benefits strategy; identify market trends and cost drivers, perform cost modeling, leverage AI to the degree possible, and develop options to drive a highly effective organization and reinforce our reputation and positioning in the market.
• Participate in benefit committees and councils; serve as chairperson as needed in Benefits Director absence.
• Support new business development including review and analysis of benefits offerings and seamless integration of new employees into benefits.
• Support key ad-hoc deliverables as needed.

Qualifications

• A Bachelor’s degree required; relevant experience may be substituted for degree, when appropriate.
• Advanced degree and/or certification (CEBS or CBP) in a benefits-related area or progress toward obtaining preferred.
• A minimum of ten years of progressively responsible experience in HR or related industry with at least six years in Benefits.
• Previous administration experience with self-insured medical, 401(k), and/or short- and long-term disability plans required. Large corporation (1000+ employees) experience preferred.
• Must have a working knowledge of IRS, ERISA, COBRA, HIPAA, ADA, and FMLA rules and regulations as they pertain to employee benefits.
• Track record of accomplishment in benefit administration, communications, vendor management, and cost/financial management required.
• Ability to effectively plan, prioritize, execute, and follow-up in a timely manner required. Proven ability to work across functional areas with all levels of stakeholders both locally and globally.
• Exceptional collaboration skills, strong relationship building, and stakeholder management required. Flexibility to meet business needs while moving key initiatives and priorities forward.
• Strong analytical capabilities and ability to synthesize complex information into user-friendly, persuasive formats and presentations required.
• Excellent written, verbal, and interpersonal communication skills required.
• Demonstrated solid problem-solving and analytical ability required.
• Proficiency in Microsoft Word, Excel, PowerPoint, and Outlook required.
• Experience in benefit plan design and negotiations with plan vendors and consultants preferred.
• Experience with new business development (including mergers, acquisitions, and divestitures) and associated benefit-related due diligence processes/compliance requirements preferred.
• Experience with artificial intelligence platforms, agents, and/or digital innovation solutions within the Total Rewards field preferred.

Location & Schedule

This position can be based in Lexington, MA or Plainsboro, NJ. 30%-40% overnight travel required.

Pay

The base compensation range for this position is $152,700 to $267,300. Base compensation is determined based on a number of factors. This position is also eligible for a company bonus based on individual and company performance. Novo Nordisk offers long-term incentive compensation and/or company vehicles depending on the position's level or other company factors.

Benefits

• Medical, dental, and vision coverage.
• Life insurance.
• Disability insurance.
• 401(k) savings plan.
• Flexible spending accounts.
• Employee assistance program.
• Tuition reimbursement program.
• Voluntary benefits such as group legal, critical illness, identity theft protection, pet insurance, and auto/home insurance.
• Time off pursuant to the company's sick time policy, flex-able vacation policy, and parental leave policy.