The Compensation and Benefits Analyst position is responsible for analyzing and interpreting benefits and compensation data to identify trends, make recommendations for improvement, and ensure plan compliance and accuracy. This position reports to the Manager of Compensation and Benefits. Responsibilities include:
* Administer salary planning, incentive programs, annual merit, and salary survey completion.
* Evaluate job roles and job offers to ensure internal and external equity and compliance with the Fair Labor Standards Act and other federal, state, and local regulations.
* Review comprehensive market data on a regular basis to determine if structures are externally competitive. Recommend movement in structure, if appropriate, including costing and incumbent analysis.
* Complete external surveys and identify additional survey opportunities.
* Analyze company compensation policies in relation to government wage and hour regulations, as well as prevailing rates for similar jobs in comparable industries or geographic areas. Recommend changes as appropriate to establish and maintain competitiveness in the market.
* Reconcile approved salary planning budget vs. actual expenses, and investigate and identify variance.
* Research and develop reporting to assist management in making salary decisions and monitoring compensation trends.
* Analyze existing benefit plans and recommend plan changes and cost containment measures.
* Monitor and audit internal and external systems to ensure data integrity and accuracy of system integration.
* Audit vendor invoicing for accuracy and ensure timely payment.
* Reconcile self-funded accounts, analyzing claims, identifying trends, and forecasting expenditures.
* Monitor plan compliance with federal, state and local laws and regulations, including IRS, ERISA, HIPAA, COBRA, etc.
* Analyze effectiveness of wellness and consumerism strategy on impacting targeted claims areas and identify areas of opportunity.
* Develop and distribute internal reporting and metrics to monitor self-funded claims experience, FSA forfeitures, and other benefit plan expenditures to identify trends and make recommendations to minimize plan and budget risks.
* Work with internal and external audit team, completing all required compliance filings and testing including non-discrimination testing, Form 5500, plan audit, pension valuation, PCORI, and PBGC fees.
* Collaborate with finance, legal, and other internal customer groups in planning and communicating updates and changes to plans and programs.
* Serve as liaison with external vendors in resolving and troubleshooting issues as necessary.
* B.A./B.S. with a minimum of 4-7 years of benefits and compensation experience, with demonstrated increased responsibility.
* Technical expertise in benefit and compensation principles, practices, and compliance requirements (benefits and compensation certifications desirable).
* Strong analytical skills and ability to build, read, analyze, and interpret complex reports and data to support the ongoing management of benefits and compensation programs.
* Knowledge in benefits and compensation administration and related laws and regulations, including but not limited to ERISA, HIPAA, ADA, COBRA, EEO, and FLSA.
* In-depth technical knowledge of benefit plans and compensation programs.
* Strong time and project management skills.
* Excellent customer service skills.
* Strong written and interpersonal skills.
* Excellent computer skills including Word, Excel, and PowerPoint.
* High level of confidentiality.* Experience in a very high paced, complex business environment.
* Team player and team builder with superior skills as a collaborator across organizational functions.
* Strong desire to grow and learn in HR, health and wellness, and compensation as a professional.
If you are interested in this position, please submit your resume to email@example.com. Thank you!