What is the opportunity?

Responsible for the communication, governance, financial management and vendor management of RBC’s U.S. Health and Welfare Benefit programs, including the Wellness programs. RBC U.S.A. has approximately 9,000 employees and 1,200 retirees, excluding City National Bank.

Continually ensure that the programs are affordable and financially sustainable long-term for RBC and transparent in terms of offering and costs, understood and appreciated by employees in terms of value and choice, competitive in aggregate with peer companies, and an expression of RBC’s employee value proposition.

What will you do?

• Proactively recommend opportunities for improvement for better alignment with business objectives and RBC’s employee value proposition, and enhanced cost-efficiency and cost containment measures long-term
• Execution of approved strategy and implementation of plan changes, ensuring compliance with legislation and partnering with appropriate internal teams and external vendors across all U.S. businesses and locations
• Implementation and execution of program design recommendations, including amendments to the plans, communications to employees and coordination with applicable vendors
• Monitor market trends and legislative developments that could impact RBC’s U.S. benefit programs and develop appropriate solutions
• Research and resolve escalated employee cases and situations as they arise, while taking into account individual needs, business needs and alignment with RBC’s benefits principles
• Manage all activities related to annual enrollment, including coordination with IT and HR Advice to ensure successful implementation and positive employee experience
• Promote wellness initiatives across all U.S. businesses and locations
• Identify opportunities for improvement and enhanced transparency to encourage consumerism and help employees make informed decisions
• Monitor plan expenses and facilitate invoice payments
• Manage program and vendor costs associated with plans, making recommendations on efficiencies, technologies, processes and plan design to ensure financial sustainability and affordability for both RBC and employees
• Manage vendor relationships for U.S. benefit programs, including periodic reviews and performance against service level agreements
• Lead vendor contract discussions and renewals, including coordination with procurement and legal
• Accountable for updating, seeking review and approval and overall administration of plan documents, governing committee updates and relevant documentation
• Manage communication plan for employees and retirees (i.e., benefit bulletins, annual enrollment materials, plan changes, SPDs, SMMs, employee tools and targeted communications)
• Create and maintain good relationships with the Total Rewards Delivery and HR Advice teams, providing both support and training as required

What do you need to succeed?

Must-have

• 5+ years relevant work experience
• Bachelor’s degree in relevant field or equivalent work experience

• Extensive knowledge of benefit programs and policies in the U.S., including proven solid technical expertise
• Understanding and experience with ERISA , DOL and IRS rules and regulations
• Experience with benefit plan design and governance
• Practical and solution focused, including end-to-end execution
• Excellent interpersonal and communication skills
• Strong project management and problem solving skills
• Leadership skills, with the ability to be a team player and strong self-starter
• Excellent technical skills and experience with Microsoft Office (Excel, Word, Access, PowerPoint and Outlook)

Nice-to-have

• CEBS

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.
• Leaders who support your development through coaching and managing opportunities.
• Ability to make a difference and lasting impact.
• Work in a dynamic, collaborative, progressive, and high-performing team.
• Opportunities to do challenging work.
• Opportunities to build close relationships with clients.

The expected salary range for this particular position is $70,000-$130,000 (Minnesota), depending on your experience, skills, and registration status, market conditions and business needs.

You have the potential to earn more through RBC’s discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.

RBC’s compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:

• Drives RBC’s high-performance culture
• Enables collective achievement of our strategic goals
• Generates sustainable shareholder returns and above market shareholder value

Job Skills

Additional Job Details

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Our Employment Opportunities

At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC. We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.