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Job Details

CVS Health

Health and Welfare Compliance, Sr Manager



Full Time

On Site


Woonsocket, Rhode Island, United States

Job Description
*The candidate can live in a commutable distance to our Hub locations. Open to hydrid flex schedule

The Health and Welfare Compliance, Sr Manager will manage, execute, and report on the compliance obligations and needs for the CVS Health HR Benefit teams, related to the health and welfare (H&W), voluntary employee benefit associations (VEBA’s), multiple employer welfare arrangements (MEWA’s), wellbeing and retirement plans, and programs offered to CVS Health colleagues.

****This is an individual contributor position ****

Specific duties include but are not limited to:
• Design and implementation of HR Benefit compliance process with the goal to improve existing HR Benefit ERISA, regulatory and general compliance efforts;
• Lead adherence practices for regulatory obligations associated with the HR Benefit programs;
• Enact practices to enhance and streamline policies, processes or services related to HR Benefit compliance matters;
• Create efficiencies and identify opportunities to continuously improve the overall HR Benefit compliance experience for stakeholders;
• Direct the team that will meet our business goal to initiate a document management system that will allow consolidation of older manual records as well as ongoing data related to participant retirement benefits and rights;
• Monitor regulatory changes and their impact on benefit compliance obligations;
• Serve as a strategic partner for the business and as a subject matter expert on HR benefit compliance matters and documenting process;
• Interact with CVS Health legal team on regulatory, M&A, and privacy matters;
• Provide oversight, adherence, and delivery of regulatory obligations, for the H&W, VEBA, MEWA, wellbeing and retirement plans (areas include external reporting (11-K), federal and state tax filings (Form 5500, 8955-SSA, M-1, etc.), participant communications (401(a)(5), SARs, etc.), internal controls (SOX), external controls (SOC1, SOC2), external standards (GAAP) and controlling documents (plan documents, SPDs, SMMs, etc.);
• Managing the investment contract(s), recordkeeper contract(s), vendor contract(s) and plan contract(s) e.g., VMAP;
• Serve as a subject matter expert on cross functional mergers, acquisitions, and divestitures teams as needed;
• Executing all retirement plan investment changes and reporting to participants;

In addition, this individual will manage qualified defined contribution plan investment operations between the trustee, investment advisor(s), consultants and recordkeeper for fiduciary oversight, investment changes and related issues.

Pay Range
The typical pay range for this role is:
Minimum: 75,400
Maximum: 162,700

Please keep in mind that this range represents the pay range for all positions in the job grade within which this position falls. The actual salary offer will take into account a wide range of factors, including location.

Required Qualifications
10+ years plus functional experience with employee benefit plans in multiple areas (H&W, Retirement, Audit)

Preferred Qualifications
- Knowledge of various compliance requirements (ERISA, ACA) and regulatory agency (IRS, DOL, PBGC, SEC) filings impacting HR Benefit areas with a preference for experience in health and welfare related operations, compliance, and filings
–Strong relationship skills to build partnerships with internal (legal, tax, corporate reporting) and external (Auditors, Vendors) stakeholders.
–Demonstrated ability to build teams and compliance departments / programs
–Proven ability to coordinate multiple ongoing projects across multiple stakeholders
–Highly organized and self-motivated individual
–Strong writing skills to draft/review complex compliance communications for delivery to stakeholders (e.g., participants, HR business partners, colleagues, vendors)
–Ability to collaborate with executives and colleagues at all levels
–Excellent written and oral communication skills
–Knowledge of qualified investment operations, either working with trustee, recordkeepers or advisors and investment managers

Bachelors Degree or equivalent experience
Bachelors Degree preferred

Business Overview
Bring your heart to CVS Health Every one of us at CVS Health shares a single, clear purpose: Bringing our heart to every moment of your health. This purpose guides our commitment to deliver enhanced human-centric health care for a rapidly changing world. Anchored in our brand — with heart at its center — our purpose sends a personal message that how we deliver our services is just as important as what we deliver. Our Heart At Work Behaviors™ support this purpose. We want everyone who works at CVS Health to feel empowered by the role they play in transforming our culture and accelerating our ability to innovate and deliver solutions to make health care more personal, convenient and affordable. We strive to promote and sustain a culture of diversity, inclusion and belonging every day. CVS Health is an affirmative action employer, and is an equal opportunity employer, as are the physician-owned businesses for which CVS Health provides management services. We do not discriminate in recruiting, hiring, promotion, or any other personnel action based on race, ethnicity, color, national origin, sex/gender, sexual orientation, gender identity or expression, religion, age, disability, protected veteran status, or any other characteristic protected by applicable federal, state, or local law. We proudly support and encourage people with military experience (active, veterans, reservists and National Guard) as well as military spouses to apply for CVS Health job opportunities.