Benefits Analyst

About Our Client

The organization operates in the benefits administration sector, specializing in the management and delivery of defined benefit pension plans. It supports clients with accurate pension calculations, participant data management, regulatory compliance, and quality assurance, helping ensure reliable and timely administration of retirement benefits.

About the Opportunity

The Benefits Administration Services Analyst II supports the administration of defined benefit pension plans by performing benefit calculations, processing participant transactions, resolving inquiries, and maintaining accurate records. This role ensures pension benefits are administered accurately and in accordance with plan provisions, administrative procedures, regulatory requirements, and client-specific standards.

Responsibilities

• Perform defined benefit pension calculations, including retirement, termination, and death benefits.
• Review participant data and supporting documentation for accuracy before processing transactions.
• Process participant elections, benefit commencements, distributions, and related transactions.
• Interpret and apply plan provisions, benefit formulas, eligibility requirements, administrative procedures, and business rules.
• Research and resolve participant and plan administration issues, escalating complex matters as appropriate.
• Review calculations and transactions for accuracy, consistency, and compliance.
• Maintain accurate participant records and update benefits administration systems.
• Respond to participant inquiries regarding pension benefits, plan provisions, and administration processes.
• Identify data discrepancies and collaborate with internal teams to resolve issues.
• Support data validation, system testing, audits, and quality assurance activities.
• Assist with plan updates, system changes, annual administration processes, and special projects.
• Follow service-level agreements, quality standards, and client-specific requirements.
• Document processes, procedures, calculations, and administrative activities.
• Collaborate with team members and internal departments to ensure accurate and timely benefit delivery.
• Participate in team meetings, training sessions, and client interactions.
• Identify opportunities to improve processes, accuracy, and operational efficiency.
• Support senior analysts and leadership with complex defined benefit administration activities.

Requirements

• Bachelor's degree or equivalent combination of education and experience.
• Minimum 2 years of experience in benefits or pension administration.
• Experience administering defined benefit pension plans preferred.
• Experience performing pension benefit calculations preferred.
• Ability to interpret plan documents and accurately apply plan rules and provisions.
• Strong analytical, mathematical, and problem-solving skills.
• Excellent attention to detail with the ability to manage multiple priorities and deadlines.
• Proficiency with Microsoft Excel and Microsoft Office applications.
• Experience with benefits administration or pension administration systems preferred.
• Strong written and verbal communication skills.
• Ability to work independently while collaborating effectively with team members and internal stakeholders.

Benefits & Perks

• Health and welfare benefits effective from day one.
• Paid time off to support work-life balance.
• Employee discounts and additional company perks.
• Paid training and professional development opportunities.