RICHARD STEIN

North Providence, RI 02911

(617) 413-5882 ▪ Stein.ventures@gmail.com

BENEFITS SERVICE DELIVERY EXECUTIVE

Recognized as a highly accomplished executive and leader in the Benefits Outsourcing industry with a
proven track record in client services management servicing Fortune 500 companies. A strategic
multi-dimensional thinker who has cultivated exceptional, cross-functional teams and relationships
focused on delivering superior customer service.
Areas of expertise include:
▪ Relationship Management ▪ Project Implementation Management ▪ Strategic Planning
▪ Retirement Plan Expertise ▪ Pension Administration Systems ▪ Union Benefits
▪ Mergers & Acquisitions ▪ Governance & Due Diligence ▪ Corporate Actions
▪ Communication Strategies ▪ Team Leadership & Mentoring ▪ Process Improvements

PROFESSIONAL EXPERIENCE

FIDELITY INVESTMENTS (Marlborough, MA) 1996 - 2010

A leading provider of asset management services, retirement planning, and benefits outsourcing to more than
20 million individuals and institutions.
Benefits Service Delivery Leader (2006 to 2010)
Led a cross functional team of Client Service managers who supported the administration of defined
benefit, defined contribution and health & insurance outsourcing services for multi-product, Fortune
500 clients. Developed and executed annual business plans to exceed the clients’ expectations and to
meet aggressive revenue goals.
 Increased client revenue by $20M over a 3 year period.
 Negotiated service level agreements with internal and external stakeholders associated
with client contract renewals. Maintained a 100% client retention rate over a 4 year time
horizon.
 Executed monthly and quarterly service reviews to ensure client expectations and
service level agreements were met. Significantly improved overall customer satisfaction for
a leading Pharmaceutical client based upon both client and participant surveys.
 Developed and implemented action plans to optimize operational efficiencies and
improve the overall customer satisfaction levels. Decreased overall operational expenses
by 40% associated with reduced headcount and improvements to administrative processes.

Director of Operations (2001 to 2006)

Set up an outsourcing division in Canada to support the back office operations and administration of
the pension plans for a Fortune 50 automotive client covering over 1.2 million participants. Assessed,
acquired, and implemented all technology and infrastructure requirements, including the setup and
testing of the pension administration systems. Recruited and managed a team of 76 associates across
functional areas to support ongoing operations.
 Developed and implemented aggressive training strategies to achieve key indicators of
operational readiness.
 Drove accountability for results that exceeded internal and external service level agreements.
 Built cross functional operational teams which were ready to provide superior customer
 service on Day One.

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FIDELITY INVESTMENTS (Continued) 1996 - 2010

Senior Client Services Manager (1999 to 2001)
Effectively managed the ongoing administration and plan requirements for the clients' defined benefit
programs including cash balance, final average pay, and career average pension plans. Participated as
a key presenter in the sales process for new client prospects. Led weekly meetings with each client to
ensure timely resolution of issues and action plans.
▪ Successfully led and coordinated client communication efforts, corporate actions, and plan changes
for three Fortune 500 clients covering over one million participants.
▪ Developed and presented annual business plans to the clients’ senior management teams.
Maintained 100% client-retention rate associated with high customer satisfaction.

Senior Project Implementation Manager (1996 to 1999)

Subject-matter expert accountable for managing and leading defined benefit project teams from point
of sale through the successful transition to client services. Accountable for issue resolution and
escalation to ensure project scope and timelines were met and project risk was effectively managed.
▪ Negotiated with internal and external stakeholders to obtain support for desired outcomes via scope
and budget management. Successfully executed 3 large-scale implementations on time and within
budget.
▪ Functioned as a change agent to streamline administrative procedures for both the client and the
internal operational teams. As a result, reduced operational expenses by $50M via automation of
manual processes.

UNITRIN, INC. (Chicago, IL) 1990 - 1996

One of the nation's leading financial services providers specializing in property and casualty insurance, life and
health insurance products for individuals, families, and small businesses.
Benefits Manager
Accountable for the setup of the Retirement Benefits department and the effective transition of the
pension and 401(k) plan administration following the spin-off of Unitrin from the Teledyne
Corporation. Efficiently managed a group of six associates responsible for the day-to-day
administration of the back office operations.

 Facilitated the business requirements and testing efforts for the development and rollout of an in-
house pension record-keeping system to handle the administration of four different corporate
pension plans covering 30,000 participants. As a result, increased daily throughput by 50%.
 Led a project to outsource the administration of the 401(k) plans, including risk assessment, due
diligence, cost/benefit analysis, and final recommendations to the Board. Decreased operational
expenses of the 401(k) plans by 30% as a result of this initiative.
Richard Stein Page 3

BRACH’S CANDY, INC. (Chicago, IL) 1988 - 1990

One of America’s leading manufacturers and distributers of quality confectionary, gum products and fruit
snacks.
Benefits Administrator
Key leader tasked with managing a staff of four associates within the Retirement Benefits department
accountable for the administration of the pension and 401(k) plans. Acted as a liaison between Human
Resources and Senior Management to provide non-qualified benefits to executives subject to early
retirement windows.

 Negotiated with the Union representatives to resolve claims and appeals associated with the hourly
participants' pension benefits and entitlements.

TOWERS WATSON (Chicago, IL) 1984 - 1988

A leading global professional services company that offers consulting solutions in the areas of employee
benefits, talent management, rewards, and risk management.

Pension Analyst
Functioned as a third-party administrator to fulfill the pension obligations pursuant to plan
terminations, mergers and acquisitions.

 Effectively analyzed and reviewed actuarial reports, plan amendments, plan documents, insurance
contracts, and trust/collective-bargaining agreements to ensure compliance with federal pension
legislation.
 Ensured efficient processing of plan terminations, including the coordination of filings and
distributions with the IRS, PBGC, and plan participants.

EDUCATION & PROFESSIONAL CREDENTIALS

Bachelor of Science, Business Administration – Industrial Psychology

University of Illinois, Urbana, IL, Graduated with High Honors (1984)
Certified Employee Benefits Specialist

PROFESSIONAL AFFILIATIONS & RECOGNITIONS

▪ Outstanding Service Award for Client Services Management (Fidelity)

▪ Outstanding Service Award for Operational Excellence (Fidelity)
▪ President of the Fruit Hill Condo Association (2007 – 2010)