Sr Analyst, Benefits

Responsibilities

• Manage the day-to-day administration of the company’s 401(k) plan, ensuring compliance with IRS, ERISA, and DOL regulations.
• Conduct regular plan audits, nondiscrimination testing, and ensure accurate reporting and timely filings (e.g., Form 5500).
• Collaborate with the 401(k) provider, payroll, Workday and HR teams to resolve issues, manage contributions, and oversee loans and distributions.
• Serve as the primary point of contact for Associates and vendors regarding 401(k) questions and escalations.
• Manage vendor relationships, identify program or process modifications, and implement improvements.
• Identify potential compliance risks and implement proactive solutions.
• Lead the preparation and response to audits, both internal and external.
• Stay updated on relevant laws, regulations, and industry trends related to retirement plans and ensure the plan remains compliant.
• Analyze benefits data to identify trends, optimize plan design, and recommend improvements.
• Ensure the accuracy and integrity of benefits data by meticulously reviewing and reconciling data from different sources, resolving discrepancies as needed.
• Prepare and present detailed reports on plan utilization, Associate participation, and financial performance metrics.
• Provide insights into cost-effectiveness and benchmarking of 401(k) offerings against industry standards.
• Utilize advanced Excel skills to collect, analyze, and interpret benefits data, identifying trends, patterns, and insights that contribute to the optimization of benefits offerings.
• Represent the benefits department on the data stewardship council.
• Support strategic initiatives related to retirement benefits, including plan design enhancements and participant engagement strategies.
• Develop educational materials and presentations to promote understanding and participation in the 401(k) plan.
• Partner with HR, payroll, and vendors to streamline processes and improve Associate experience.
• Create comprehensive reports and presentations using PowerPoint to communicate benefits-related information to various stakeholders, including senior management and associates.
• Manage and administer the company's associates’ benefits programs, including health insurance, financial plans, wellness initiatives, and other related programs.

Qualifications

• Bachelor’s degree in human resources, Business Administration, Finance, or a related field.
• Relevant certifications (e.g., CEBS, PHR, SHRM-CP) are a plus.
• Advanced proficiency in Excel, HRIS systems (e.g., Workday), and benefits management software.
• A minimum of 3-5 years of experience in Defined Contribution 401(k) administration and general benefits administration, and data analysis.
• Strong Excel Proficiency: Demonstrated expertise in Excel, including the ability to manipulate and analyze large datasets, create complex formulas, and generate meaningful visualizations.
• Attention to Detail: Meticulous and thorough in reviewing data and documentation, with a commitment to maintaining the highest level of accuracy.
• Communication Skills: Ability to explain complex benefits concepts to Associates and collaborate effectively with vendors and internal teams.
• Problem-Solving: Proactive in identifying issues and developing solutions to ensure smooth plan operation.