Compliance and Retiree Benefits Specialist

Compliance and Retiree Benefits Specialist

Requirements

• 3 to 5 years of experience in benefits administration.
• Knowledge of benefits compliance and audits.
• Vendor management and project management experience.
• Proven ability to work with complex processes
• Proficient with Microsoft applications.

Responsibilities

• Complete deliverables to support the annual ERISA audit. Partner with vendors to facilitate and validate data due to auditors. Respond to requests for information to close the audit successfully.
• Complete the annual 5500 filing in collaboration with Finance, auditors, and the outsourced benefits administration vendor.
• Manage the nondiscrimination testing for dependent care flexible spending accounts. Apply adjustments to accounts and coordinate updates with Payroll and outsourced benefits administration vendor.
• Complete compliance filings, including PCORI, SF HCSO, MA HIRD, and RxDC, as well as any required member notifications.
• Validate data for the medical plan 1095 forms before distribution and submission.
• Support the implementation of a new tax reporting process for inactive participants. Manage benefits data delivery for tax reporting annually.
• Develop plan document amendments and revise summary plan descriptions. Coordinate deliverables with Legal and vendors.
• Manage retiree health benefits, including insured and self-funded medical and prescription plans, retiree health exchange, and retiree health reimbursement accounts.
• Monitor executive supplemental life insurance policies to support claims processing. Complete required data updates for annual statements and tax reporting.
• Support life insurance plans for payout, validation, and updates with insurer or outsourced benefits administration vendor.
• Research escalated member issues and coordinate resolution with vendors. Process corrections and adjustments as applicable to update accounts.
• Respond to requests for information to ensure accurate data and validate service history.
• Facilitate and validate data from/to vendors and external consultants to support plans funding and accounting.
• Initiate wires for timely payments to vendors. Process receivables and post funds to appropriate accounts.
• Actively engage in vendor partnership calls to drive service delivery. Ensure completion of deliverables and implement periodic plan changes.
• Collaborate with vendors and external consultants to assess the impact of regulatory requirements and implement related changes.
• In partnership with consultants, plan the annual stewardship meetings with vendors to review plans performance, utilization trends, and opportunities for cost efficiency.
• Support renewals for designated plans, complete periodic risk assessments, and coordinate contracting processes.
• Coordinate with the outsourced benefits administration vendor and participate in user acceptance testing to ensure programs set-up is complete for annual enrollment.
• Assess opportunities and recommend program enhancements to support strategic goals.
• Participate in projects as a member of the Global Health and Wellbeing Team as necessary.
• Support communication campaigns to inform and engage plan participants.
• Stay apprised of industry trends, legal and compliance updates, and apply gained knowledge to designated processes.

Preferred Qualifications

• Previous experience with benefit plan compliance activities
• Previous experience with retiree insurance plans.
• Knowledge of benefit plans financial processes.
• Experience utilizing data and identifying trends.
• Previous experience with Workday and reporting.