Senior Benefits Analyst ( Pension )

5 - 7 years experience  •  Healthcare

Salary depends on experience
Posted on 06/28/18
Waltham, MA
5 - 7 years experience
Healthcare
Salary depends on experience
Posted on 06/28/18

PURPOSE AND SCOPE:

The Sr. Benefits Analyst position is focused on the FMCNA Defined Benefit Pension Plans as well as responsible for managing the benefits analysis support to internal HR, Legal and Management for union contract negotiation along with union contract implementation. The incumbent will also be deeply involved in the FMCNA Pension Plan Administration, Compliance and Financial Reporting functions and involved in  handling various compliance requirements for our retirement, health and welfare plans.

PRINCIPAL DUTIES AND RESPONSIBILITIES:

  • Provide benefit analysis support for organized labor contract negotiations to assist Counsel and Management on decisions. This will include providing related benefit recommendations.
  • Work with various internal FMCNA groups to ensure the implementation of organized labor contracts.
    • Subject Matter Expert (SME) on the respective Plan procedures as well as for the processing and administration of the FMCNA Pension Plan, Everest Healthcare Employee’s Retirement Plan and Trust and the Supplemental Executive Retirement Plan (SERP).
    • Ensure prompt and accurate processing of pension calculations/statements and monthly/lump sum payments according to Plan provisions.
    • Coordinate lump sum and monthly pension payments with BNY Mellon and SERP payments with FMCNA Payroll.
    • Be an expert in utilizing the online calculation system.  Annually test the system when updates are received and provide feedback to actuary in regard to system performance.
    • Provide information, answer questions and review pension calculations/payments with internal and external auditor
    • Develop data integrity audits for defined benefit retirement plans.
  • Provide information, answer questions and review pension calculations/payments with internal and external auditors. 
  • Provide various reporting data to union organizations and internal FMCNA groups on an ad-hoc basis.
  • Perform the New York State Nurses Association (NYSNA) Pension Valuation data.
  • Manage the ERISA audits and 5500 reporting for all FMCNA Retirement, Health & Welfare Plans.
  • Liaison with payroll, external consultant, government agencies and various internal departments on the Affordable Care Act (ACA) administration.
  • Develop data integrity audits for our retirement, health and welfare plans.
  • 401(k) – develops audits to ensure are processes are accurate and accountable (HCE, Maximum Limits, Hardship Withdrawals
  • Conduct frequent internal audit and control procedures to validate data being correctly fed to the appropriate systems. Evaluate administrative procedures, processes and systems with recommendations for continuous improvement.
  • Coordinate various Open Enrollments for our union employees.
  • Assist with various projects as assigned by a direct supervisor.
  • Other duties as assigned.Additional responsibilities may include focus on one or more departments or locations.  See applicable addendum for department or location specific functions.

PHYSICAL DEMANDS AND WORKING CONDITIONS:

The physical demands and work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION:

Bachelor’s Degree required; Advanced Degree desirable

EXPERIENCE AND REQUIRED SKILLS:

  • 5 – 8 years’ related experience; or a Master’s degree with 3 years’ experience; or a PhD without experience; or equivalent directly related work experience.
  • SHRM Certification (SHRM-SCP, SHRM-CP) is desirable, or a plus.
  • Analytical experience in benefits/compensation or related area, preferred.
  • A solid knowledge of benefits and strategies.
  • Strong analytical skills focused on data analysis, data interpretation and the means to make analytic data understood and assimilated by the organization.
  • Understanding of benefits regulations and their impact on benefit recommendations.
  • Clear, concise and focused written and oral communication skills, including good listening and interpersonal management skills.
  • Strong computer skills with demonstrated proficiency in word processing, spreadsheet, database, presentation and email applications.

Job ID 18000EMK

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