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Benefit Plan Advisor (Lower Mid-Michigan Territory)

Municipal Employee's Retirement System of Michigan...
Lansing, MI Full Time
POSTED ON 4/11/2024
Territory is lower mid-Michigan.
The Benefit Plan Advisor establishes and maintains effective relationships with customers, prospects and key stakeholders through their region (i.e. unions, associations, etc.) with a focus on new product sales and assets designed to grow the MERS pool. This position is responsible for new business development, at the plan and individual level, which includes prospecting, plan design, structure and employee benefit analysis for retirement and health care, investment performance, allocation and fee analysis, actuarial methods, assumptions and policies, financial planning, administrative analysis and implementation between MERS contacts and/or governing body, MERS and third-party vendors, education, communications and research. Finally, this position recommends strategies and holistic solutions to meet the customer’s (employer and participant) goals, budget, and/or employee retention/recruitment needs.
Duties and Responsibilities
  • Analyzes assigned regional territory, products and services, competition and trends to assist in differentiating MERS from the competition
  • Develops and maintains relationships with key contacts
  • Assists in the development, planning and execution of new product and service launch activities.
  • Acts as a trusted advisor and subject matter expert in analyzing complex plan designs, investment performance and fees, actuarial comparison and analysis, administrative fee analysis, and product differentiation
  • Proactively engages and is fluent in retirement, financial and healthcare industry trends and municipal challenges, including but not limited to laws, compliance issues, competitor insights and legislative issues.
  • Actively involved in the creation, delivery and presentation of new business proposals including RFP’s.
  • Exercises sound judgment and makes independent decisions in compliance with MERS Plan Document(s) and business practices
  • Develops a strategic territory plan by regularly reviewing regional targets and working with cross-functional teams to successfully execute prospecting strategies, campaigns and lead generation in order to meet/exceed asset, product, and account targets for employer adopted as well as individual adopted products
  • Promotes MERS products, services and image through regular, proactive personal contact with governmental agencies and their member associations, including situations that may involve controversial, inter-group coordination, union negotiations/contracts and/or influencing and persuading senior-level executives on the benefits of MERS products and services.
  • Gains market share through consultative selling and needs analysis resulting in the sale of MERS products and increasing new assets under management for new and existing customers which includes facilitating the implementation of new product adoptions and the coordination of full plan transfers and individual rollovers between governing body, MERS, third party vendors and/or participants.
  • Consistently and accurately executes complex program adoption process, including legal adoption agreements, administrative services agreement reviews and development to ultimately review and gain approval by prospective clients and their governing bodies and unions.
  • Serves as key point of contact for managing communications and education/enrollment efforts for new product adoptions for employers, participants and their governing bodies.
  • Builds and maintains strong collaborative working relationships with cross-functional teams and with regional personnel in assigned territory to provide exceptional service to our customers.
Minimum Required Qualifications
Education:
  • Bachelor’s degree in business, marketing, advertising, sales promotion, or finance.
Experience:
  • Five years of previous sales and customer service-related experience implementing retirement, financial, investment, actuarial, health care strategies and/or insurance and account management is required.
  • Knowledge and understanding of private and public sector retirement and health care plan designs and employee benefits
Licensure, Certification, or Registration:
  • Michigan Life and Health Insurance Licensure is required
  • Free and clear of any convictions under the Office of Inspector General Exclusions List
  • Valid driver’s license
Preferred Qualifications:
  • Over five years of successful sales and new business development experience
  • Current or former license holder of applicable employee benefits, investment, financial planning licenses and/or certifications
Expertise
Knowledge of:
  • Consultative selling both at the plan and individual level within the employee benefits/retirement plan industry
  • Proven track record of successful retirement, financial, investment, actuarial, insurance and/or healthcare strategy implementation
  • Sales promotion and account management
  • Customer Relationship Management systems, specifically Microsoft Dynamics
Skill in:
  • Critical thinking
  • Persuasive and influential written and verbal communication specific to financial planning and/or employee benefits
  • Customer Service
  • Handling objections
  • Speaking publically to all size groups
  • Anticipating questions or problems
  • Maintaining a calm demeanor under pressure
Ability to:
  • Understand and analyze highly complex benefit plan designs, legal, retirement plan, financial, actuarial, administrative and investment information and translate into recommendations and strategies
  • Plan and organize
  • Maintain high personal standards and personal integrity
  • Complete client follow-up and follow through
  • Actively listen
  • Extremely self-motivated and able to work independently
  • Manage multiple tasks and requests at one time
  • Highly flexible and adaptable to a rapidly changing environment
  • Work well when provided administrative direction with a broadly-defined mission or function
  • Effectively communicate complex concepts in a simple manner both orally and in writing
  • Utilize Customer Relationship Management systems to effectively track activity and pipeline and manage workload
Physical Requirements
The physical demands described here are representative of those that must be met by an employee to perform successfully the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
  • While performing the duties of this job, the employee is occasionally required to stand; walk; sit; use hands to handle, or feel objects, tools or controls; reach with hands and arms; climb stairs; balance; stoop, kneel, crouch or crawl; talk or hear.
  • The employee must occasionally lift and/or move up to 50 pounds.
  • Specific vision abilities required by the job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to focus.
  • Ability to sit in a vehicle for long periods of time during travel.
Working Conditions
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
  • Location: Statewide travel will occur on a regular basis both during regular business hours, in the evening, or on weekends as necessary.
  • Weather: While performing the duties of this job, the employee may be exposed to weather conditions during travel to and from business meetings.
  • Noise: The noise level in the work environment is usually moderate.

Salary.com Estimation for Benefit Plan Advisor (Lower Mid-Michigan Territory) in Lansing, MI
$86,536 to $108,073
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