Benefits Specialist

About the role

This position provides finance-related analytical and operational support to the Benefits Administration team within Global Total Rewards, Mars Benefits Americas. The role involves managing benefit premium calculations, vendor payments, budget tracking, and financial reconciliations for CPG and Canada.

This role interacts with Treasury and Finance, Payroll, Accounts Payable, MyP&O, and external vendors such as Northern Trust, WTW, and Fidelity. It requires responding to vendor inquiries regarding payments and funding, with a focus on auditing, analysis, and reconciliations to control expenditures.

Responsibilities

• Manage cash flow for VEBA/Trust current account and process benefit payments for transactions, including:
  • Processing incoming and outgoing benefit payments and receipts from VEBA and USRT Trusts, including vendor profile setup with Northern Trust.
  • Tracking all cash transactions to and from Trusts, categorizing transactions, and preparing reports by expense type and associate population.
  • Reconciling retiree medical premiums collected by Northern Trust (NT) and WTW and deposited to the VEBA/Trust using monthly reports.
  • Tracking daily claim payments from the Trust and Mars Treasury group and reconciling with Health Vendor’s monthly claim reports, resolving discrepancies.
  • Preparing payment instructions for Treasury to process medical, dental, life, and LTD payments to vendors for active, LTD, and COBRA benefits.
• Consolidate Payroll information to report associate contributions for medical, dental, vision, contributory life, commuter benefits, and HSAs to Treasury and Finance.
• Track quarterly Pharmacy Rebates, splitting Active and Retiree portions, and funding the Retiree rebate portion to the VEBA Trust.
• Track Mars active claims and provide Finance with claim totals each period.
• Maintain a benefit plan cost summary and forecast for fiscal year planning, communicated to business units for CPG & Canada.
• Manage the Fixed Costs process for the Benefits department, including:
  • Creating purchase orders after confirming budget line items.
  • Reviewing vendor invoices, assigning them to appropriate budgets, and processing payments through SAP.
  • Organizing and controlling fixed costs budgets and payments tracking.
  • Creating monthly reports analyzing cost drivers and savings by vendor/activity, and determining year-end accruals.
  • Preparing Trust billable monthly reports for the Benefits group and US Benefit Plans Committee.
• Review and process vendor payments for LTD and Life Insurance based on WTW reporting.
• Support FSA activities with outside vendors, including administrative fee payments, reviewing claim reports, and reconciling funding by Treasury, healthcare claims, and Payroll contributions.
• Monitor and reconcile MetLife Notice of Claims against monthly death claims reports, researching discrepancies.
• Participate in various Benefits projects, including conversion, harmonization, and acquisition activities.

Requirements

• Associate or Undergraduate degree or equivalent in business management, finance, accounting, or human resources.
• Related education and coursework in benefits (e.g., CEBS certification) is a plus.
• Treasury or S&F experience is a plus.
• Ability to work with sensitive materials.
• Strong computer skills, including advanced/expert knowledge of Access, Word, PowerPoint, and Excel.
• Ability to handle multiple priorities, scheduling conflicts, and deadlines.
• Availability during critical payment deadlines and period close/year-end activities.
• Quick adoption of emerging technologies and digital tools to enhance productivity.
• Proactive identification of opportunities to automate manual tasks and simplify procedures.

Benefits

• Work with over 140,000 diverse and talented Associates, guided by The Five Principles.
• Join a purpose-driven company focused on building the world of tomorrow.
• Best-in-class learning and development support, including access to Mars University.
• Industry-competitive salary and benefits package, including company bonus.
• Participation in a 401k plan and paid time off benefits.

Pay

The base pay range for this position at commencement of employment is USD 37.53 - USD 51.60 per hour. The total compensation package includes variable pay, medical and dental benefits, and participation in a 401k plan. Base pay may vary depending on job-related knowledge, skills, and experience.