Senior HR Specialist, Global Benefits

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BACKGROUND AND UNIT SUMMARY

The World Bank Group (WBG) Employment Policy, Compensation & Systems Unit (HRDPC) is one of the Centers of Expertise in the Human Resource Vice Presidency (HRVP). HRDPC’s role is to design, develop, implement, and administer employment, compensation, and benefits policies and programs for staff and the contingent workforce in Headquarters or Headquarters (HQ)/Washington, D.C., and over 140 country offices (COs) globally.

This position is with the Global Benefits Team, which is responsible for the overall program management and governance of benefits programs for active staff and retirees, and dependents. The team addresses program design, review, implementation, communication, financial management, operational compliance with policies, and vendors’ oversight.

DUTIES AND RESPONSIBILITIES:

The Senior HR Specialist is responsible for various benefit programs, working and collaborating with a team of benefits specialists and analysts, stakeholders from other functions outside of HR, as well as managing Third Party Administrators (TPAs) or providers for relevant programs; among the benefits under its scope are:

A. Central Benefits Accounts (CBA) - The Central Benefits Accounts relate to the financial management of the benefits, including accounting disclosures, budgeting process, and compliance audits.

•Oversees the mid-year budgeting process as part of the WBG budget cycle, and the year-end disclosures:

-Reviewing data requirements for external actuary and discussion on assumptions setting and experience studies.

-Reviewing internal budget and liabilities calculations performed by analyst(s) in the team.

-Reviewing consolidated budget results for all CBA and projected liabilities by organization.

-Facilitating the meetings with all financial reporting teams on the results of the mid-year budget forecasts and year-end disclosures, including responding to their inquiries.

-Briefing HR Management and getting their sign-off on the results.

-Liaising with WBG auditors.

•Monitor medical reserves accounts monthly to ensure adequate levels.

B. Staff Retirement Plan (SRP) – Designs and reviews the staff retirement plan and collaborates with the Treasury Unit regarding implementation. Develops the plan documents and submits plan rules or plan rules changes to Senior Management and the Board.

C. Retired Staff Benefits Plan (RSBP) – The RSBP Trust is a funding vehicle for WBG’s contributions to the retirees’ medical plans for both HQ and country offices.

•Collaborates with World Bank Treasury to review cashflows reconciliation for the Retired Staff Benefits Plan Trust financial statement, including facilitating the audit with WBG auditor.

•Works with auditors on the annual medical insurance audit and provide any required follow up clarifications.

•Review data requirements for external actuary for purposes of the funding valuation

•Monitor retiree medical reserves accounts and replenish the funds as needed.

D. 401(k) Administration - The 401(k) Plan is a retirement savings plan for HQ staff. The Global Benefits team is responsible for the internal administration of the plan, including oversight of the third party record keeper, governance of the plan and compliance with the IRS.

•Oversees the day-to-day administration of the plan internally and externally with the Trustee/Recordkeeper to ensure plan and regulatory compliance.

•Coordinate the plan’s Advisory Committee (AC) meetings and actions.

•Liaise with Trustee regularly on administrative, investment options and legislative matters.

•Updates

•Plan documents and revisions to investment options lineup with AC.

•Collaborate with Treasury on the annual audited financial statement of the plan.

E. Life Insurance and AD&D – The life insurance and accidental death and dismemberment coverage are offered to all staff and their eligible dependents.

•Oversees the education and communication campaign on the policies and manage inquiries from staff or internal stakeholders.

•Reviews premiums remittances to insurers including renewals.

•Liaises with vendors on programs management and service issues.

F. Disability Benefits  - The WBG offers a comprehensive Disability Insurance Program designed to provide income protection for staff members who are unable to work due to illness or injury, whether work-related or not. It covers short-term disability, long-term disability and Workers’ Compensation. The job is responsible for the design and review the WBG disability benefits program and collaborates with the Health & Safety Directorate regarding implementation. Engages with various stakeholders relevant to the design or implementation of the program.

G. Other Benefit Programs and Projects

•Management of other programs such as financial assistance programs and leave programs.

•Collaborate with other team members on special projects, as needed, including preparing cost analysis on program design changes, new programs, and presenting them to senior leadership.

•Deliver education sessions on benefits programs to staff and stakeholders.

•Prepare communication materials on benefits programs for distribution to staff or content management on intranet; prepare and implement change management plan for benefits changes or new benefit programs.

•Coach junior staff or provide guidance on technical analysis or review their work, as needed.

This position is in regular contact with other units in the World Bank Group such as the Budget, Performance Review and Strategic Planning, Treasury, Pension Administration Finance and Accounting, Health & Safety Directorate, Human Resource Client Services, the HR Service Center/ HR Operations, Information & Technology Solutions, the Tax Unit, the Procurement Unit, the Legal Department, and the WBG Staff Association.  The role is expected to build partnerships, support development initiatives, and address issues as necessary to bring about implementation of new policies and or procedures.