ESOP and Retirement Plans Specialist

Job Description

Job Title: ESOP and Retirement Plans Specialist

Location: Corporate

Department: People Team

Job Summary:  The ESOP and Retirement Plans Specialist will participate in the research, design and strategic development of all retirement plans, ensuring compliments to the Wawa’s Total Rewards offer.  Execute the retirement plans and conduct performance analysis to measure the effectiveness of the plans.

Principal Duties:

•            Prepare and deliver full financial statements for the ESOP and all other retirement plans on a monthly basis and prepare reports for management indicating program status.  Prepare the year-to-date as well as year-to-year financial analysis utilized by the Board of Directors, Trustees, Retirement Plans Committee and Management Committee. Organize and participate in Trustees and Retirement Plan Committee meetings.

• Serve as a subject matter expert for the ESOP and all other Retirement Plans when partnering with Finance, People Team leadership and other stakeholders. Schedule, coordinate and lead quarterly meetings for the Retirement Plans Committee.

• Partner with People Team leadership in developing and executing the strategy for the ESOP and retirement plans.  Recommend changes to drive performance. Develop and implement all necessary communications, which support existing programs, including those that support new plan initiatives.

• Evaluate and analyze current ESOP and retirement plans and related practices Forecast and trend the impacts of the plans for associates and the company and make recommendations for improvements or changes.

• Manage all ESOP and retirement plans projects; act as the subject matter expert and lead for analytical support, work with partners to implement, communicate and oversee programs in support of new initiatives or changes.

• Provide detailed and accurate ad-hoc analysis and studies on ESOP and all other retirement plans for Finance and People Team Leadership. Responsible for ESOP repurchase liability studies and compliance reporting.

• Provide subject matter expertise related to all ESOP and retirement plans support systems, including Workday, ensuring optimization of all processes. Identify opportunities to change business processes, integrating them into the technology and facilitating their implementation, developing reporting and providing analyses; work cross-functionally to provide system/process documentation and training.

• Ensure all plans adhere to federal regulations (ERISA, IRS, DOL) governing the administration of employee benefit plans.  Prepare and document the year-end financial statements and related schedules for approval by the Plan’s Auditors. Lead data mining for all government inquiries.

• Report on and assist with the gathering of monthly cost and performance data and investigate variances to budget or projections.  Make recommendations and develop action plans as necessary to ensure we meet performance goals.

• Partner in the effort to build and enhance the ownership culture of the Company through communication plans and events related to the ESOP. Work cross-functionally with People Team operations services to deliver and support the full retirement plans offer.

• Monitor record keeper to ensure adherence to all plan provisions and regulations.  Work with the record keeper to create and maintain efficient systems, practices and work flows.

• Maintain and develop relationships with existing and potential vendors.

• Ensure vendor processes and interactions with customers meet expectations and are continuously reviewed for improvement. Maintain and monitor performance standards to evaluate the performance of our retirement plan vendors.

• Act as the custodian for the shares of Wawa, Inc. common stock held by the Employee Stock Ownership Plan and designated signatory for all plans to provide direction to the Plan record keeper on behalf of the Company.

Essential Functions:

• Ability to work well individually as well as in a team environment
• Excellent oral and written communication skills
• Excellent customer service skills
• Ability to work with little or no supervision
• Detail oriented and excellent organizational skills
• Excellent analytical and problem solving skills
• Ability to handle multiple projects simultaneously and independently
• Excellent interpersonal skills
• Proven self-starter with demonstrated ability to make decisions
• Excellent leadership skills
• Ability to adhere to and meet deadlines
• Strong administrative and data management skills
• Ability to raise issues proactively and in a timely manner
• Strong vendor relations
• Experience defined contribution plans

Basic Qualifications:

• Bachelor’s degree in Finance, Business preferred
• 5 – 7 years retirement plans related experience including Employee Stock Ownership Plans
• Experienced with leveraged ESOPs preferred
• Knowledge of government filings such as Form 5500
• Knowledge of various financing structures
• Knowledge of business applications and reporting software
• Excellent PC skills including Microsoft Office Suites and working knowledge of HR information systems

Wawa will provide reasonable accommodation to complete an application upon request, consistent with applicable law. If you require an accommodation, please contact our Associate Service Center at [email protected].

Wawa, Inc. is an equal opportunity employer. Wawa maintains a work environment in which Associates are treated fairly and with respect and in which discrimination of any kind will not be tolerated. In accordance with federal, state and local laws, we recruit, hire, promote and evaluate all applicants and Associates without regard to race, color, religion, sex, age, national origin, ancestry, familial status, marital status, sexual orientation or preference, gender identity or expression, citizenship status, disability, veteran or military status, genetic information, domestic or sexual violence victim status or any other characteristic protected by applicable law. Unlawful discrimination will not be a factor in any employment decision.