Principal Associate, Health & Wellness (H&W) Benefits

We are seeking a Principal Associate, Health & Wellness (H&W) Benefits to drive the delivery, administration, and continuous evolution of our comprehensive Health & Wellness programs.

In this high-impact role, you will serve as the operational anchor for an exciting portfolio of vendors,spanning on-site clinics and pharmacies, dental, vision, FSA/HSA, life insurance, LTD, AD&PL, mental health, MSK, and executive physicals.

Key Responsibilities

1. Vendor Management & Governance

• Own Plan Program Management for on-site clinics and pharmacies, dental, vision, FSA/HSA, life insurance, LTD, AD&PL, mental health, MSK, and executive physicals.
• Develop a network and build trust-based relationships with vendors and cross-functional partners to get work done.
• Performance Monitoring: Meeting with vendors and actively monitoring vendor adherence to Service Level Agreements (SLAs) to ensure vendors deliver on contracts.
• Partner with Enterprise Supplier Management (ESM) to execute required vendor management tasks to ensure compliance and mitigate risk.
• Responsible for preparation and timely submission of state and federal filings related to H&W plans.
• Serve as designated lead for HIPAA compliance, internal H&W audits, and liaison between Benefits and HR Risk teams on issue management and controls.
• Serve as the subject matter expert for laws, rules and regulations that impact US H&W benefits.
• Continuous Improvement: Create analytics to leverage data to generate insights on vendor capabilities and recommend plan or program improvements.

2. Operations & Program Administration

• Issue & Escalation Resolution: Maintain comprehensive, up-to-date issue logs for each vendor to drive timely resolution and document outcomes.
• Partner with Benefits Operations to manage annual program implementation changes with vendors.
• Core Administration: Handle administrative tasks related to the assigned plans with a sense of urgency, while balancing quality, to ensure smooth day-to-day operations.
• Internal Communications: Own and maintain internal intranet pages for your plans to ensure benefit program information, FAQs, and resources are accurate and accessible.

3. Associate Experience

• Cross-Functional Collaboration: Own tier-3 employee escalations for your plans.
• Understand associate experience to recommend and execute improvements.
• Oversee the monthly benefits and wellbeing newsletter to increase plan utilization and drive awareness of benefits.
• Leverage data to support key messages and partner with HR Communications to design and execute on a communications plan to drive understanding of benefit and how to access/use.

4. Strategic Initiatives & Growth

• RFP & RFI Support: Support team members responsible for plan design with Request for Proposals (RFPs) and Request for Information (RFIs) for benefit program contracts.
• Implementation Support: Handle program implementation changes with vendors; ensure changes are properly implemented and tested.
• Proactively seeks out benefits knowledge to stay current on benefits products, industry innovations, and regulatory changes.

5. Documentation

• Process Documentation: Author and maintain standard operating procedures (SOPs) for vendor management and escalation workflows to ensure team business continuity.

This role is designated as a hybrid position. You are expected to adhere to Capital One's hybrid policy regarding required on-site presence at your designated office location.

Basic Qualifications

• Bachelor’s Degree or military experience
• At least 3 years of experience working with Health & Wellness employee benefit plan vendor management

Preferred Qualifications

• MBA or Master’s Degree
• Certified Employee Benefit Specialist (CEBS) or Certified Benefits Professional (CBP) designation
• 4+ years of experience in Health & Wellness employee benefits for organizations with 10,000+ employees
• 5+ years of experience with benefits vendor management
• Experience with benefits governance practices
• Solid business acumen, strategic thinker, and problem solver
• Strong analytical skills and knowledge of statistical analysis