BENEFITS ANALYST JOB DESCRIPTION
The Benefits Analyst position is responsible for directing and planning the day-to-day operations of group benefit programs (group health, dental, vision, wellness, short-term and long-term disability, life insurance, flexible spending plans, health savings accounts, voluntary benefits, employee stock purchase plan and 401(k) retirement plan.
Investigate new benefit programs, improve existing programs, supervise and monitor benefit administration. Assist with the design employee benefit plans. Provide analytical and technical support in the delivery of the benefit programs.SHORT-TERM FUNCTIONS OF POSITION:Administration: Processing, Functional and Customer Service
Administration: Design, Direct, Comply
- Coordinate daily benefit processing - enrollments, terminations, changes, etc.
- Gather employee data and oversee the processing of monthly invoices and the preparation of payment of invoices for all group plans.
- Provide service support to internal and external customers.
- Implement and maintain benefit records in Workday. Provide the technical support, test system functionality and work with end users to provide system support and troubleshoot system problems.
Serve as primary contact for plan vendors and third party administrators. Coordinate transfer of data to external contacts for services, premiums and plan administration. Work effectively to make sure the plans run smoothly. Investigate discrepancies and provide information in non-routine situations.
LONG-TERM FUNCTIONS OF POSITION:Research and Develop
- Evaluate and revise internal processes to increase efficiency.
- Document, and maintain administrative procedures for assigned benefit processes.
- Ensure compliance with applicable government regulations.
- Assure timeliness and accuracy of required filings.
Assist benefits team in the research of employee benefit plans and vendors to identify those that present the best value.
Communication and Training
- Assist with the design implementation of benefit programs.
- Assist in the management of the benefit plan renewal process.
- Assist with benefit vendor renewals.
- Examine possible plan design and/or benefit cost alternatives.
KNOWLEDGE, SKILLS, AND ABILITIES:
- Develop communication tools to enhance understanding of the company's benefits package.
- Create and conduct benefits presentations.
- Provide training and support to human resources staff.
RESPONSIBILITY AND DECISION-MAKING AUTHORITY:
- Bachelor's degree and three to five years related benefits or employee benefit administration experience desired.
- Professional designations preferred.
- Experience with work Workday is strongly desired.
- Excellent communication and organization skills are required.
- Project and team management/leadership skills and experience. Proven ability to work effectively in a team environment with associates.
- Capability of effective planning and priority setting.
- Ability to manage several complex projects simultaneously while working under pressure to meet deadlines.
- Strong analytical skills and a thorough knowledge of plan designs. Ability to understand, evaluate and make judgment on proposals.
- Computer proficiency and technical aptitude with the ability to utilize MS Word, Excel, Power Point are required.
- Knowledge of all pertinent federal and state regulations, filing and compliance requirements both adopted and pending affecting employee benefit programs, including ERISA, COBRA, FMLA, ADA, SECTION 125, IRS and DOL requirements.
Determine proper course of action to resolve escalated employee service issues. Interpret plan procedures and policies. Recommend and advise on benefit enhancements and changes. Refer strategic and global issues to Benefits Manager. Position requires limited supervision and direction.WORKING RELATIONSHIPS:
The ability to work as a team with Human Resources, Payroll, Accounting, Management, Legal, Marketing Communication departments on benefits issues. Externally, relationships will include benefits providers, consultants and third-party administrators.GUIDANCE RECEIVED:
Direction and guidance will be provided by the Benefits Manager. The Benefits Manager determines the expectations, goals, and projects assigned.