Analyzes Health and Welfare, Retirement (i.e. qualified and non-qualified defined contribution and defined benefit plans) and other plans such as wellness programs to project costs, develop trends and determine patterns. Research ongoing expenses and develop forecasts relating to current, new and revised benefits programs as well as analysis of claims data. Also assists in evaluating and creating business cases for potential new programs to improve the employee value proposition and mitigate future expense increases. Makes recommendations on plan improvements and new programs. Assists in merger and acquisition due diligences and integrations into benefit plans.
Essential Responsibilities:
Plan, develop and recommend benefit programs to meet the changing needs of the company and its associates. Inform management of trends and developments in the field of employee benefits. Prepare reports based on data compiled for competitive bench-marking of the employee benefits programs. Provide market analysis on all benefits programs. Analyze detailed data to track plan participation and develop forecasts on health care costs and trends on a monthly basis. Run various reports off of H&W administration system and/or carrier websites to perform statistical analysis and review of applicable employee health plan expenses and premiums including rate review. Determine metrics and develop monthly and annual forecasts of the 401(k) Plan and other plans. Run reports and compile and analyze data from 401(k) record-keeping system, and HRIS (Workday). Review annual 401(k) and non-qualified defined contribution employer matching contributions. Assist with the implementation and testing of a new outsourced H&W benefits administration system. This also includes reviewing and testing annual Open Enrollment processes, which include communications, web testing, analysis and reporting. Manage web-based Total Rewards Statement and assist in managing all voluntary employee benefit and 401(k) plans. Address and provide resolution to escalated employee benefit related issues Assists in merger and acquisition due diligence reviews to estimate potential benefit program liabilities of target companies. Perform duties related to the integration of the acquired companies benefit plans into the benefits programs, including coordination with 401(k) record keepers, and outside accountants when plan audits are required. Present on-site benefit presentations as needed. Assists in the development and implementation of associate communications regarding benefit plans. Emphasis will be on electronic media including web-based applications and email distribution. Assist in managing Health & Welfare administration outsourcing vendor and work closely with internal payroll, HRIS, compensation and HR teams to ensure that deliverables are received accurately and on a timely basis. Complete benefit surveys to assist in bench-marking. Oversee monthly Sarbanes-Oxley procedures and reporting. Perform other related duties and assist in other areas of the employee benefit programs as needed.
Basic Qualifications:
Bachelors Degree required.
3-5 years experience in employee benefits area (Retirement and/or H&W in either consulting or corporate).
Preferred Qualifications:
Certified Employee Benefit Specialist (CEBS) is highly desirable.
Background should include familiarity with group health and retirement benefits.
Working knowledge of ERISA and other legal requirements related to the administration of employee benefits.
Demonstrated analytical and problem-solving skills and ability to handle multiple tasks and projects simultaneously.
Strong analytical skills including PC financial modeling are essential.
Familiarity with relational database queries and/or Workday a plus.
Oral and written communication skills relating to all management levels, vendors and plan participants.
Ability to work in a team environment.
Sanofi US Services, Inc. and its U.S. affiliates are Equal Opportunity and Affirmative Action employers committed to a culturally diverse workforce. All qualified applicants will receive consideration for employment without regard to race; color; creed; religion; national origin; age; ancestry; nationality; marital, domestic partnership or civil union status; sex, gender, gender identity or expression; affectional or sexual orientation; disability; veteran or military status or liability for military status; domestic violence victim status; atypical cellular or blood trait; genetic information (including the refusal to submit to genetic testing) or any other characteristic protected by law.
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