Pension Benefit Consultant

Job Description:

Note: Fidelity is not providing immigration sponsorship for this position.

The Role

The Pension Benefit Consultant is the lead Defined Benefit specialist responsible for understanding and documenting our client’s DB Plan benefit calculation provisions and working with the internal Fidelity project team, including developers, data analysts, and project management, to test and deliver requirements and calculation engine to our ongoing operations team. This position works directly with clients.

Responsibilities include:

• Demonstrating your DB expertise to help others at Fidelity do their jobs across the large project team

• Owning the discovery and learning of the mechanics of how the client’s DB Plans operate directly with clients and their representatives

• Reading client plan documents, sample calculations, SPDs, valuation file specifications

• Leading client review meetings and conference calls and issue resolution

• Showing the client you have gained full knowledge of their DB Plans and building their confidence in Fidelity

• Crafting a comprehensive test plan to ensure DB participant calculations are accurate

• Working with developers to debug and certify the DB participant benefit calculations in their entirety

• Working with data analysts to validate the client participant data is correct and complete, and to identify any gaps

• Training the ongoing operations team in all DB calculation aspects, so they can carry the client going forwards

The Expertise and Skills You Bring

• Extensive expertise with Defined Benefit Pension Plans, ideally 10 years, having worked with a wide variety of DB Plans and features

• Work within a project matrix, able to handle time effectively

• Working understanding of pension laws and regulations

• Actuarial designations (EA, ASA) a plus but not required

• Ability to document the benefits of a DB plan in extensive, complete detail

• Experience actively gathering information from clients and third parties, framing questions, covering all possible scenarios under the DB Plans

• Ability to create and review test cases to highlight whether the computer is performing DB calculations accurately in all conceivable situations

• Experience consulting with clients about DB Plan issues, design features, inputs and outcomes

• Experience problem solving, and finding solutions all parties can move forwards with

• Project leadership skills, ability to communicate progress/obstacles, move forwards on time and on budget

• Experience working directly with, or personally programming, DB calculation or valuation systems, and related spreadsheets

• Ability to work effectively on your own, and at the same time as part of a large internal and external team, often from a remote work situation

• Ability to detect and surface problems and obstacles and lead the team to resolution

The Team

The Pension Benefit Consultant’s expertise and work directly leads to correct and timely pension calculations being available for millions of DB Plan participants.

The Pension Benefit Consultant uses their deep DB expertise to build a link between the client and internal Fidelity resources over which they carry DB knowledge. The PBC is the go-to resource among the project team for all DB-specific matters. The PBC builds confidence with clients that Fidelity will operate their DB Plans accurately.

Certifications:

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Most roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles. Some roles may have unique onsite requirements. Please consult with your recruiter for the specific expectations for this position.

Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.