Fifth Third Bank

Compensation

Full Description

Make banking a Fifth Third better® We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank. ABOUT THE ROLE: The Senior Benefits Manager is responsible for leading the strategy, administration, compliance, vendor management, and continuous improvement of the Bank’s health and welfare benefit programs. The position ensures the operational excellence, financial stewardship, and regulatory compliance of complex benefit plans while serving as a subject matter expert and strategic partner to HR leadership, employees, and cross‑functional teams. Please see below for specific responsibilities and requirements for this role. YOUR RESPONSIBILITIES: The responsibilities for this role are below; you may support projects of varying complexity based on skill and organizational priorities. Benefits Strategy & Administration: Lead the administration, design, and delivery of complex health and welfare benefit plans. Ensure full compliance with federal, state, and local regulations; oversee audits and legal review processes. Develop and execute comprehensive benefits communication and marketing strategy to increase employee awareness, understanding, and utilization of available programs. Vendor Management: Lead and coordinate the full vendor onboarding process, ensuring all governance, risk, compliance, and operational requirements are completed accurately and efficiently. Manage end‑to‑end vendor relationships including RFP processes, selection, contracting, negotiations, vendor due diligence, and ongoing performance management. Partner with internal teams and external providers to ensure seamless implementation and service delivery. Data & Financial Analysis: Conduct detailed benefits-related data analysis, including partnering with health care consultants and actuaries on cost modeling, forecasting, and experience reporting. Use analytical insights to recommend plan design changes, cost‑savings opportunities, and process improvements. Team Leadership: Supervise and mentor team members to support development and performance excellence. Foster an environment of collaboration, accountability, and continuous learning. Mergers & Acquisitions: Support due diligence, integration planning, and transition activities related to M&A activity, ensuring benefits alignment and compliance. Stakeholder & Cross‑Functional Partnership: Build strong working relationships and influence stakeholders across all levels of the organization. Collaborate with HR, Legal, Finance, Payroll, and additional internal partners to ensure consistent benefit program execution. Problem Resolution: Provide expert‑level support in resolving complex employee benefit issues. Identify root causes and implement sustainable process improvements. Technology & Tools: Utilize Microsoft Office products, including advanced Excel and Access Database capabilities, to manage data and reporting needs. Other Duties: Performing other duties as assigned, adapting to new tasks or shifts in priorities as necessary to support your team’s and the company’s mission. MINIMUM REQUIREMENTS: Bachelor’s degree in a related field. Ten or more years of experience leading Benefits administration. Five or more years’ leadership experience. Experience administering and managing complex health and welfare plans. Experience working in environments requiring both individual accountability and strong team collaboration. REQUIRED SKILLS: Qualified candidates will possess an advanced degree of proficiency (typically from 10 years of work or practical experience), in: Benefits Administration: Managing complex health and welfare plans with regulatory and operational accuracy. Analytical Skills: Conducting detailed data analysis, working with health care actuaries, and interpreting financial modeling. Vendor Management: Leading RFPs, negotiating contracts, performing due diligence, and overseeing vendor performance. Supervisory Leadership: Coaching, managing, and developing team members. Microsoft Office Tools: Using Word, Excel, PowerPoint, and Access Database in advanced applications. Attention to Detail: Ensuring accuracy and precision in plan administration, data analysis, documentation, and vendor processes to maintain compliance and operational excellence. Please refer to the “Skills for Success” section to learn how to stand out as an applicant. SKILLS FOR SUCCESS: Qualified candidates will possess an advanced degree of proficiency (typically from 10 years of work or practical experience), across a suite of skills including, but not limited to: Relationship Building: Establishing strong working relationships and influencing at all organizational levels without direct authority. Communication: Demonstrating strong verbal, written, presentation, and negotiation skills. Problem Solving: Applying structured analytical thinking to resolve complex issues. Change Leadership: Navigating ambiguity and supporting organizational transitions, including M&A integration. Collaboration: Working effectively across HR and business teams in a fast-paced, performance-driven environment. DOING THE RIGHT THING: Our employees take pride in doing the right thing for customers and colleagues as well as being accountable for risk by openly exchanging ideas and opinions, elevating concerns, and following policies and procedures that protect all our valuable assets —including you. Senior Benefits Manager At Fifth Third, we understand the importance of recognizing our employees for the role they play in improving the lives of our customers, communities and each other. Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day. The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance. Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html or by consulting with your talent acquisition partner. LOCATION -- Cincinnati, Ohio 45202 Attention search firms and staffing agencies: do not submit unsolicited resumes for this posting. Fifth Third does not accept resumes from any agency that does not have an active agreement with Fifth Third. Any unsolicited resumes – no matter how they are submitted – will be considered the property of Fifth Third and Fifth Third will not be responsible for any associated fee. Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status. Introduce yourself to our team to stay connected on future opportunities. We look forward to finding the right place for you. Are you ready to take the next step? Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.