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Deferred Compensation Division Manager (SPSA, Opt. 1)

We continually strive for a workforce that reflects the growing diversity within the State of Illinois.  A variety of employee backgrounds, perspectives, ideas and experiences are crucial to our ability to most effectively serve the public.  Bilingual skills welcome

Reasonable Accommodation Statement

Persons with disabilities are provided reasonable accommodations throughout the hiring process and during performance of all job duties.  Please email the Central Management Services Disability Resource Center at CMS.DisabilityResCen@illinois.gov or call (217) 524 - 7514 for further information and to request an accommodation.

Sponsorship for Employment

The State of Illinois does not provide sponsorship for employment visa status (e.g. H-1B visa status).  To be considered for permanent employment with the State of Illinois, applicants must be currently authorized to work in the United States on a full-time basis.

Disclosure of Salary Information

In compliance with the Illinois Equal Pay Act, 820 ILCS 112/1 et seq., the State does not seek, request, or require a job applicant’s wage or salary history.  Employment decisions are not made based on an applicant’s wage or salary history.  To that end, please do not include wage or salary information in your resume or other profile or application materials.

Date:  Apr 7, 2021
Location: 

Springfield, IL, US, 62703-2487

Job Requisition ID:  579

Agency:  Department of Central Management Services 
Closing Date/Time:  04/21/2021 
Salary:  $7,084.00-$8,750.00 /month Anticipated 
Job Type:  Salaried Full Time 
County:  Sangamon 
Number of Vacancies:  1 
Plan/BU:  Term Appointment Gubernatorial (Management Bill) 000 

 

****************A RESUME IS REQUIRED FOR THIS JOB POSTING****************

 

Please attach a DETAILED Resume/Curriculum Vitae (CV) to the MY DOCUMENTS section of your application. You WILL NOT be considered for the position if you attach a CMS100, CMS100b or any other document that is not a Resume or CV.

POSITION OVERVIEW

Do you have an interest in helping people plan for their futures? How about giving people a sense of understanding regarding their retirement options?  If so, the Deferred Compensation Division Manager position may be ideal for you.  The State of Illinois’s Deferred Compensation Plan is a supplemental retirement plan for State Employees. This position oversees the administration of the Deferred Compensation Plan. The ideal candidate would serve as a principle policy advisor to the Deputy Director of the Bureau of Benefits and the Assistant Deputy Director. The ideal candidate would be able to analyze current programs under the Plan and recommend new legislation or revisions in order to enhance service levels. The ideal candidate would serve as the spokesperson on behalf of the agency on Deferred Compensation to the legislature, government officials, and interest groups.

This position requires someone with a willingness to help others build a strong future as well as maintain an effective business plan. If that sounds like you, then the Bureau of Benefits invites you to apply for the Deferred Compensation Division Manager position.

JOB RESPONSIBILITIES

20%   Under the general direction of the Assistant Deputy Director, serves as the Deferred Compensation Division Manager, in accordance with the Illinois Pension Code, overseeing the administration of the Deferred Compensation Plan subject to the general supervision of the Illinois State Board of Investments

  • Plans, develops, implements and manages policy and operational aspects for the Deferred Compensation Division
  • Serves as principal policy advisor to the Deputy Director and Assistant Deputy Director for the Deferred Compensation Program
  • Administers the Illinois State Employees’ Deferred Compensation Plan providing Deferred Compensation benefits for employees, retirees and beneficiaries for all state agencies, boards and commissions, other elected officials’ offices, the State University System and contractors
  • Develops and monitors Division goals and objectives
  • Oversees the maintenance of participant inquiry and service functions
  • Establishes priorities for program implementation
  • Evaluates operational functions to ensure efficient performance
  • Assist in the development and implementation of strategic planning and evaluation efforts for the Deferred Compensation Division for goals and objectives
  • Establishes empirical outcome measures for all goals and objectives, establishes key performance measures for all categories and tracks forecast versus actual performance
  • Provides ongoing monitoring of all measures and indicators and forwards resultant reports to the Deputy Director and Assistant Deputy Director
  • Assists the Bureau of Benefits in preparation of necessary documentation to substantiate the annual budget request for the Division and request supplemental funding as required
  • Utilizes computer programs including Microsoft Office such as Word, Excel, Access, Outlook, mainframe applications and online enrollment systems in performance of duties
  • Travels for performance of duties

JOB RESPONSIBILITIES (CONTINUED)

15%  Oversees, through the Deferred Compensation Plan recordkeeper and subordinate managers, the enrollments of new participants, transfers of participants into the Plan from other retirement plans, transfer out of the Plan into other retirement plans, distribution of assets to beneficiaries of deceased participants, deferred exchanges in which a deferred exchanges in which a participant changes allocations of assets or composition of investment funds insuring provision of Deferred Compensation services to employees, retirees and beneficiaries

  • Provides controls to ensure that resources are effectively managed within the auspices of this program
  • Oversees the division inquiry and complaint function who respond daily to inquiries regarding verification of their current account status and serve as resources in complaint resolution regarding service and/or payments contested either by Plan participants or investment providers
  • Oversees the oversight of various educational and informational programs to apprise eligible enrollees of existing, new and revised investment programs offered by the Deferred Compensation Division

JOB RESPONSIBILITIES (CONTINUED)

15%   Serves as official spokesperson on behalf of the agency on Deferred Compensation matters

  • Provides responses to legislature, officials from all involved governmental organizations associated with Deferred Compensation, Deferred Compensation Plan recordkeeper, and interest groups advocating, explaining and interpreting new and revised Division policies and initiatives to foster support and enhance the effectiveness of understanding, standardization and integration of intent of all concerned parties
  • Negotiates resolutions of issues which arise in the development or implementation of new policies and initiatives
  • Interfaces with intra and inter agency management personnel as well as program Deferred Compensation liaisons as well as Plan recordkeeper to resolve operational or programmatic deficiencies
  • Supports the process of obtaining stakeholder feedback on proposed and newly implemented policies and initiatives

JOB RESPONSIBILITIES (CONTINUED)

15%  In accordance with the Illinois Pension Code, oversees the administration of the Deferred Compensation Plan subject to the general supervision of the Illinois Board of Investments in coordination with General Counsel and Illinois State Board of Investments

  •  Recommends new legislation or revisions to existing legislation, administrative rules and Plan rules to enhance the service levels and cost effectiveness of the Division’s Plans
  • Reviews proposed legislation to determine potential impact.

JOB RESPONSIBILITIES (CONTINUED)

10%  Serves as full line supervisor

  • Assigns and reviews work
  • Provides guidance and training to assigned staff
  • Counsels staff regarding work performance
  • Establishes and implements corrective action plans
  • Reassigns staff to meet day-to-day operating needs
  • Establishes annual goals and objectives
  • Approves time off
  • Adjusts first level grievances
  • Effectively recommends and imposes discipline up to and including discharge
  • Prepares and signs performance evaluations
  • Determines and recommends staffing needs

JOB RESPONSIBILITIES (CONTINUED)

10%  Serves as Executive Secretary of the Deferred Compensation Financial Hardship Committee

  • Renders determinations of participants requests to withdraw assets from the Plan based upon financial hardship
  • Oversees the over deferral monitoring to identify and reconcile participants paying contributions to the Plan in excess of what is allowable by law or by the participants requested contribution amount

JOB RESPONSIBILITIES (CONTINUED)

10%  Oversees the third-party plan recordkeeper with technical support from the Department of Innovation and Technology (DoIT), which includes

  • The administration of maintenance
  • System enhancements 
  • Data collection for the computerized maintenance of all data associated with the Deferred Compensation Plan which requires interfacing of data between the Division, the Plan recordkeeper, Deferred Compensation liaisons and the payroll systems  which allows transmittal of all pertinent participant, account and deposit data

JOB RESPONSIBILITIES (CONTINUED)

5%  Performs other duties as required or assigned which are reasonably within the scope of the duties enumerated above. 

MINIMUM QUALIFICATIONS

  • Knowledge, skill and mental development equivalent to four (4) years of college with courses in business and public administration
  • Four (4) years administrative experience in a public or business organization in the financial or employee benefits field
  • Two (2) years of supervisory experience

PREFERRED QUALIFICATIONS (IN ORDER OF SIGNIFICANCE )

  • Two (2) years’ experience with State and Federal regulation affecting financial investment and pre-tax programs
  • One (1) year experience with a defined contribution plan
  • One (1) year experience communicating technical information to a non-technical audience within various levels of an organization
  • Five (5) years’ experience in MS office such as Word, Excel, Access, Outlook, mainframe and online enrollment systems
  • One (1) year experience researching, recommending, or negotiating new or revisions to existing plans, policies, rules, and initiatives
  • One (1) year experience working in collaboration with third party vendors

CONDITIONS OF EMPLOYMENT

  • Overtime is a condition of employment and you may be required/mandated to work overtime including scheduled, unscheduled or last-minute overtime
  • Requires the ability to travel in performance of duties
  • Requires the ability to pass a background check
  • Requires a valid and current driver’s license

Work Hours:  8:30 am-5:00 pm Monday-Friday 
Work Location: 801 S 7th St Springfield, IL 62703-2487 
Agency Contact:  Suzanne.LaTourelle@illinois.gov 
Job Function: Administration/Management 

 

Agency statement

Central Management Services (CMS) is the operational engine working behind the scenes to enable the State's more than 60 agencies, universities, boards, and commissions to deliver efficient, reliable services to all Illinois citizens.  The Agency's mission is to support the State by delivering innovative, responsive, and effective services that provide the best value for Illinois State government and the people it serves.  Among the services CMS provides are human resources facilitation; benefits programs for employees, retirees and local governments; property and facilities management; diversity initiatives for public contracting and State employment; joint purchasing support; vehicle fleet oversight and support; surplus property programs; print and electronic communications services; and administrative hearings coordination.