Benefit Analyst Job Description
Benefit Analyst Duties & Responsibilities
To write an effective benefit analyst job description, begin by listing detailed duties, responsibilities and expectations. We have included benefit analyst job description templates that you can modify and use.
Sample responsibilities for this position include:
Benefit Analyst Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Benefit Analyst
List any licenses or certifications required by the position: CEBS, CFA, CMA, CPA, HIPAA, ARM, SPD
Education for Benefit Analyst
Typically a job would require a certain level of education.
Employers hiring for the benefit analyst job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Education, Business, Finance, Healthcare, Business/Administration, Pharmacy, Human Resources, Accounting, Actuarial Science, Math
Skills for Benefit Analyst
Desired skills for benefit analyst include:
Desired experience for benefit analyst includes:
Benefit Analyst Examples
Benefit Analyst Job Description
- May verify and reconcile financial reporting data, prepare periodic reports for other departments with minimal supervision
- May analyze and verify pricing models
- May train and mentor Actuarial Technician I or II, or Senior Actuarial Technician I
- Perform manual calculations for error level 2 Intents, Estimates, MRD’s, Batch Terminations, , Disability Calculations, QDRO Calculations, Executive Calculations
- Performing account reconciliations for multiple accounts
- Investigating any discrepancies
- Obtaining/entering appropriate information in the system
- Manipulating various MS Excel spreadsheets
- Develops the Univers Plan Design Document (PDD) for each client, utilizing extensive benefits knowledge and understanding of the client’s specific plans
- Interacts with various insurance carriers to ascertain voluntary product specifics
- Tests enrollment program for each case prior to enrollment starting
- Triage and work tasks/issues via internal ticket system and third-party benefit administrators
- Monitor, review and/or resolve administration and record keeping activities/issues related to the benefit plans
- Provide subject matter expertise to business partners and guidance for associate communications including separation agreements, total rewards statements, and other ad hoc needs
- Create benefit communications (both written and electronic) including AE materials, SPDs, and NQSP materials monitor and provide updates to vendor generated communications
- Participate in benefits projects as needed, including work on harmonization, acquisitions, and annual enrollments
Benefit Analyst Job Description
- Process and reconcile benefit payments for qualified and non-qualified plans
- Troubleshoot all matters and issues related to the benefits plans among payroll, the sites, individual associates, and external administration vendors
- Analyze and research escalated cases from vendors and from the Benefits Service Center
- Evaluate the quality and delivery of services provided through third party service centers and take appropriate action when necessary to resolve issues
- Provide information/guidance to ATBC Finance Group for all government filings and the vendors for discrimination testing
- Provide all required information for plan audits conducted by external auditors
- Provide benefit plans training/updates to the Benefits Service Center, other members of the Benefits Administration team and P&O
- Support prospecting activities
- Salesforce champion
- Research and product knowledge
- Numerate including solid understanding of annuities, present value calculations, discount rates, tax withholdings
- Ability to apply plan information in issue resolution and calculation preparation
- Business focus along with a demonstrated team and service orientation
- Ability to manage specific vendor performance
- Possess a relaxed and approachable counseling style and ability to articulate very technical plan provisions to the wider associate population and to handle sensitive, confidential matters
- Ability to handle multiple priorities and scheduling conflicts
Benefit Analyst Job Description
- Analyze all position accruals to ensure they have been calculated correctly, and adjust in the case of a discrepancy
- Work with the corporate actions group to preserve the integrity of all corporate actions represented on EBR statements
- Use transaction processing knowledge to review all issues as they arise to guarantee that activity has been processed and is being reflected correctly on EBR statements
- Deliver EBR statements in accordance with all service level agreements as they apply to each client
- Perform Ad Hoc projects for the teams as assigned
- Monitors benefit activity, serves as the primary liaison for benefit processing support, and specializes in reporting of payroll data
- Works closely with the Benefit Delivery team to timely execute benefit transactional activity on employee records
- Must have comprehensive understanding of the SAP ERP functionality and downstream impacts to payroll results
- Must be able to read payroll clusters with a deep understanding of benefit module including leave requests, benefit plans and their interaction with payroll
- Must have a comprehensive understanding of the company benefit programs, including eligibility requirements benefit process decisions related to the calculation and collection of ARREARS and DDNTK
- Strong organizational skills with the ability to manage complex projects within deadlines
- Strong research skills with the ability to concisely synthesize information
- High-energy, results-oriented self-starter with a proven commitment to quality and meeting deadlines
- Fully fluent in both English and French
- Intermediate level of experience in MS Office (MS Word and Excel)
- 4 years of experience in financial / data analysis
Benefit Analyst Job Description
- Identifies problematic drivers for results, then research, analyze, and document them while proposing corrective action
- Responsible for monitoring and reporting benefit activity each pay period (in collaboration with the benefits delivery team) to assure the calculated payroll results are expected
- Researches and remains current with allowable employee deductions from pay per bargaining agreements, state and federal guidelines
- Active role with integrations and other Projects (Y/E, benefit open enrollment)
- Collectively collaborates with a team of payroll SMEs to proactively monitor internal controls to ensure accuracy, compliance, and timely execution of activity that could impact the system calculation of benefit related functionality
- Continuously monitor business processes and systems and make recommendations for improving processes, best practices
- Complete building of databases used in benefit calculation and valuation for various bundled and unbundled DB clients
- Perform periodic quality data checks to consistently monitor the integrity of our data
- Work on the annual extract of data for various projects such as statements and valuations
- Modify and set up benefits of greater complexity level that involve multiple benefit changes (online and coding), more complex logic, and coordination with other departments (DUR, IT, Software Quality)
- Solid computer skills including spreadsheet and database applications
- Deep knowledge of defined benefit pension plans, with an actuarial or investment background
- Proficient utilizing Access
- Experiencing working in a matrix-style organization
- Experience with Data Analysis and Business Intelligence tools
- Facilitate progressive conclusions to all internal and external EBR inquiries or issues
Benefit Analyst Job Description
- Document benefit design specifications to meet business requirements
- Troubleshoot and perform research on moderately complex to complex claims processing issues or customer inquiries
- Responsible for testing, information validation, documentation, and communication for all their benefit changes
- Coach, mentor, and train less experienced associates
- Be a resource for internal and external customers on how the claims processing, deductible, and authorization systems work
- Candidate will manage Voice of Customer for the Member portal (myuhc), Broker Portal (United eServices) and the Employer Portal (Employer eServices)
- Ownership of issues through to closure including involving other team members and escalating to the Lead Business Analyst or Project Manager when needed
- Manages own workload efficiently to fulfill commitments across multiple client assignments in a timely manner
- Lead ongoing compliance effort
- Monitor asset allocations in EMEA plans
- Write concise professional business emails answering internal and external questions as needed
- Maintain consistent composure with the ability to answer client questions via one-on-one calls or conference calls
- Be able to communicate statement or account problems effectively to the EBR Coordinators or Senior Analysts in a timely manner to enable quick resolutions
- Working knowledge of TRUST3000 or a command based system preferred
- Understanding of Access and Excel preferred
- Must have a minimum of 3 years of experience in SAP Payroll and Benefits Module