Leader – Retirement Plan Administration (DC/DB)

Shape Your World

At Alcoa, you will become an essential part of our purpose: to turn raw potential into real progress. The way we see it, every Alcoan is a work-shaper, team-shaper, idea-shaper, world-shaper.

At Alcoa, you’re an essential part of our purpose: to turn raw potential into real progress. This is an opportunity for you to bring your wealth of experience to the team and help shape the future of sustainability with world-changing innovations and low-carbon technologies. You have the power to shape things to make them better.

About the role:

The Leader – Retirement Plan Administration (DC/DB) is a professional lead position that performs technical work in connection with the Alcoa Pension (DB) Plans and Alcoa Savings (DC) Plans by working closely with our vendor to implement ever-changing statutes, regulations, and policies for retirement participants and beneficiaries. The incumbent will be assigned responsibilities involving senior-level work related to project support for the Pension and 401k Administration Systems and will work regularly with our Retirement Plan Administration vendor, auditor and internal stakeholders including, but not limited to: Legal, Tax, Plan Design, Finance, Benefits Accounting and HR. The incumbent's responsibilities will also include assisting/leading with the annual audit, de-risking activities (annuity purchases) and other complex retirement benefits service issues. This role will drive initiatives to improve process, standardize delivery, and ensure best-in-class experience.

• Manage the day-to-day Retirement Plan (DC/DB) processes for Alcoa Corporation as administered by Alight Solutions and other vendors to ensure timely and accurate delivery of all Retirement Plan products to all retirement plan employees, retirees and their beneficiaries.
• Partner with internal stakeholders to ensure organization goals are being met.  Internal stakeholders include, but are not limited to, Compensation & Benefits Team, Legal, Tax, Finance, Benefits Accounting, Communications, Industrial Relations, and HR Partners at multiple locations.
• Manage plan design changes, regulatory changes and union contract changes as they relate to Alcoa’s Retirement Plan administration, and ensure all changes are implemented by Alcoa’s vendors.
• Regular monitoring of vendor Service Level Agreements (SLA’s).
• Ensure all retirement plan vendor services are invoiced accurately and paid timely.
• Coordinate and manage the annual independent audit of Qualified Pension Plans, while being responsible for audit control requirements and testing as outlined by Alcoa Audit.
• Manage the process of all divested and acquired companies with Alcoa’s Mergers, Divestitures & Acquisition Team, ensuring the timely and accurate transition/integration of benefits.
• Develop strategies for various initiatives and process improvements that lead to real cost savings and maximum value.
• Be the single point of accountability for the business processes in area(s) of Alcoa Corporation’s Retirement Plan Administration while also providing subject matter expertise in the processes and systems for Alcoa Corporation’s Retirement Plan Administration.
• Establish and maintain a high level of customer interaction and focus in order to identify improvement opportunities and recommend solutions to solve business issues.

What you can bring to this role:

• Bachelor’s Degree
• Demonstrated experience in retirement plan administration with a working knowledge of both Defined Contribution and Defined Benefits Plans.
• Strong understanding of qualified plan rules and regulations.
• Excellent Microsoft Excel, Word and Outlook knowledge a must.
• Strong analytical and problem-solving skills.
• Strong verbal, written and listening communication skills.
• Qualified Pension Administration (QPA) designation from the American Society of Pension Actuaries (ASPA) a plus.
• Working knowledge and past administration experience with non-qualified pension and deferred compensation plans is a plus.

What we offer:

• Competitive compensation packages, including pay-for performance variable pay, recognition and rewards programs, and stock-based compensation awards (3-year vesting schedule).
• Flexible spending accounts and generous employer contribution to the HAS.
• 401(k), employer match up to 6%, additional employer retirement income contribution (no vesting period), and a nonqualified deferred compensation plan.
• Holiday Pay: 11 holidays and one flexible holiday of your choice.
• 4 hours of Paid annual volunteer hours.
• Alcoa has been chosen as one of America’s Greatest Workplaces 2023 by Newsweek.

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