Benefits Compliance Analyst
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POST DATE 9/8/2016
END DATE 12/19/2016
JOB DESCRIPTIONBENEFITS COMPLIANCE ANALYST
(NORTH CAROLINA BASED)
This opportunity is currently available at our client's North Carolina headquarters. The company develops a variety of consumer products that are sold through virtually all retail channels. This global organization has grown through development of diverse product lines, acquisition and solid fiscal planning, making it a true leader in its industry segment.
This position provides assistance to Compensation and Benefits Managers and Directors, HR Generalist, Internal and External Legal, Finance and Internal and External Audit Departments as well as various vendors by managing data related to benefits compliance. This includes ERISA filings and appeals, audits and various internal and external reporting. Assist in various tasks and programs requiring compliance support input or review. The person in this position will work on other complex special projects as directed by the Director.
* Manage Section 503 ERISA Appeals process to ensure compliance with the regulations set forth by the Department of Labor. Responsible for preparing documentation for the Appeals Committee to make a formal and fair decision and handle all communications to Appellants.
* Maintain records required by Government and Company guidelines.
* This position also involves compiling reports, analyzing and verifying data for the preparation of Form 5500 filings yearly.
* Ensure accuracy and timeliness of mailings to participants of our Summary Annual Reports.
* Also maintain HIPAA Education Tracking and assist with Nondiscrimination testing.
* This position is also responsible for any healthcare state government filings.
* Assist the EBAC Committee by scheduling meetings, preparing materials and distributing documentation to Committee members.
RSP/Pension Vendor Liaison
* Responsible for the Retirement Savings Plan that includes approximately 2,000 participants. Along with the RSP, this also includes approximately 40,000 pension plan participants.
* This position is responsible for resolving issues that our vendor encounters with participant data. Required to work closely with vendor and company management.
* Prepares funding request weekly for approval to meet deadlines for wire transfers.
* Responsible for auditing quarterly match data for accuracy with payroll and vendor reports and address any issues with proper parties.
* Will work closely with website to direct allocation to participant accounts.
* This position will also be responsible for audit and accuracy of the defined contribution annual company contribution. Will validate compensation for accuracy, identify correct eligible population and will follow process through completion.
Insurance Self Billings
* Responsible for auditing insurance self-billing of the Basic & AD&D Life, Dependent Life, Optional Life, Retiree Life, Short Term and Long Term Disability.
* Responsible for auditing monthly medical and dental billing and monthly medical and flexible spending.
* Analysis of data and working closely with vendors required.
Maintain Vendor Agreements and Contracts
* Develop, organize and maintain database paper and electronic files that details executed contracts, records and correspondence.
* Maintain database with (past and current) with vendor exit clause language as needed for review by Management.
* Monitor to meet renewal deadlines.
* Approximately 20 agreements and contracts in database currently.
Maintains Plan Document Library
* This position is responsible for the document library, paper and electronic, that consists of current and historical Plan Documents and Trust documents.
* As amendments and board resolutions are made, you are required to keep the database up to date so that Management will have easy access as needed.
* Will be responsible for communicating new plan documents and amendments to vendors so that they are operating under the current Plan rules. This library currently consists of approximately 110 documents.
* Perform External and Internal Audits of all Plans when required - Must be conscious of deadlines. Support SOX process. This includes but not limited to defined contribution and defined benefit plans. Provide data verification as needed.
* Benefit Surveys - Responsible for completion of benefit surveys for benchmarking.
* Participate in special projects as needed or requested
* 4yeardegree or equivalent work experience in compensation and benefits required.
* Must be certified in HIPAA and have a clear understanding of government regulations.
* Experience with AS400, Reflections database and Plans Sponsor Websites preferred.
* Microsoft Office Products-proficiencies in Word and Excel (pivot tables, V-Lookup), Report Writing, PowerPoint.
* Takes independent action to solve problems. Be willing to go the next step, seeks responsibility and takes tough assignments to improve skills.
* Interact with internal executive management, legal as well as outside counsel.
* Be able to maintain a good working relationship with all vendors.
* Extensive knowledge of Company Benefit Plans and former Defined Benefit Plans is an asset.
* This position requires discussion and handling of highly sensitive and/or confidential issues.
* Strong organization skills, flexibility and adaptability to change are essential.
The successful candidate must have defined contribution experience (dedicated solely to that function) supporting a minimum of 2000 participants. Relevant experience must include direct corporate experience vs. third party providers.