Benefits Analyst
The role will research, analyze, and evaluate the design, implementation and administration of innovative benefits programs and policies and will primarily be responsible for the following:
- Administer US-based benefits programs, including Health, Dental, Vision, Basic Life, Supplemental Life, Short-Term Disability, Long-Term Disability, Travel and Accident insurance, Flexible Spending Account and Retirement plans
- Research employee benefits plans and vendors to identify those that present the best value. Coordinates with the international compensation and benefits team.
- Design, recommend and implement new benefits programs. Examine possible plan designs and benefits cost changes.
- Analyze current benefits, evaluating the use, services, coverage, effectiveness, cost, plan experience and competitive trends in benefits programs, and identify the company’s stance
- Negotiate with vendors and administrators for best plans, options, and rates
- Prepares reports of data results, presenting and explaining findings to senior leadership.
- Survey industry trends. Complete benefits surveys and review information obtained from the results. Analyze complex benefits information. Forecast trends and assist with future benefits designs. Develop specific recommendations for review by management
- Coordinate daily benefits processing. Handle enrollments, COBRA, terminations, changes, beneficiaries, disability, accident and death claims, rollovers, QDROs, QMCSOs, distributions, loans, hardships, and compliance testing
- Facilitates maintenance of employee benefits files, maintain group benefits database and update employee payroll records.
- Ensure compliance with applicable government regulations. Ensure timeliness and accuracy of required reporting and fees
- Maintains knowledge of legal and regulatory changes, trends, and other developments affecting retirement and other benefit plans.
- Track group health and dental claims monthly and review quarterly.
- Monitor administrative costs of benefits programs and recommend cost containment strategies, including alternative methods for administration and funding.
- Perform plan audits. Prepare, collect, and organize data for actuarial assessments. Review data in conjunction with actuarial evaluation task forces
- Document and maintain administrative procedures for assigned benefits processes
- Provide customer service support to internal and external customers. Develop communication tools to enhance understanding of the company’s benefits package
- Design and distribute materials for benefits orientations, open enrollment, and summary plan descriptions. Provide training and support to employees and the larger human resources team
- Perform additional duties and responsibilities as assigned
Qualifications
The successful candidate will have the following qualifications and experience:
- Bachelor’s degree in human resources or related field
- At least four to seven years of related benefits or employee benefits analyst experience
- Computer proficiency and technical aptitude with the ability to use Microsoft products, including PowerPoint; experience with HRIS and benefits databases
- Strong analytical and problem-solving skills with knowledge of plan designs
- Ability to work effectively in a team environment
- Must be able to work at a fast pace, possess high energy and manage multiple high priority projects to meet deadlines
- Strong communication and organization skills
- Thorough understanding of all pertinent federal and state regulations, filing and compliance requirements, both adopted and pending, affecting employee benefits programs