This position is responsible for providing analysis and reporting on the company’s benefit and compensation plans as well as supporting the day-to-day operations of group benefit plans (including health, dental, vision, disability, retirement plans, retiree medical) and compensation programs. The Benefit and Compensation Analyst will also investigate escalated benefit inquiries related to the plan rules, and provide response to the HR contact or current and former employee directing these inquiries.
KEY JOB RESPONSIBILITIES
Provides analytical and technical support in the delivery of the benefits programs. Gathers data needed to support retirement plan administration, health insurance renewals, annual plan audits, plan valuations, benefit surveys, and ad hoc reporting. Transmits data to benefit vendors to implement benefit updates and changes, and then validates the successful implementation of those changes.
Support co-sourced and out-sourced pension administration. This includes gathering data, completing pension calculations, pension consultation for employees/HR team and distributions of packets.
Assist in the analysis and administration of base pay and merit programs especially during the merit and bonus cycle by providing technical support. Assists with job evaluations by providing initial grade and bonus eligibility recommendations, based on information distilled from positions descriptions and manager interviews concerning career path information. Completes compensation surveys and helps Compensation and Benefit Manager in developing appropriate ranges for locations.
Uses a benefit Plan Documents, Summary Plan Description(s) and other reference materials to address and resolve escalated benefit plan inquiries from current and former employees as well as retirees in a timely manner. Analyzes and assists with the development of policies and procedures to ensure benefit programs meet compliance requirements.
Serves as a backup for the Benefit Administrator handling employee, retiree and HR field personnel questions related to the Komatsu Benefit Programs through phone calls and e-mail communication, as needed. Provides additional support in these areas during the open enrollment and other peak benefit periods.
Keeps abreast of current trends and regulatory issues surrounding benefit plan design and administration; researches how regulatory issues affect the company’s plans, including reporting and disclosure requirements and best practices. Maintains regulatory compliance.
Other duties as assigned.
Bachelor degree, and three (3) or more years of experience in benefits, including employee benefits and retirement plans (both defined benefit and defined contribution plans). Experience with compensation plans and SuccessFactors Compensation Module a plus.
Intermediate knowledge of employee benefits and retirement plan administration (DB and DC), mechanics, legal regulations (including ERISA, PPA, IRS, DOL, HIPAA, COBRA, Section 125, ADA, FMLA, and Medicare), and best practices. Demonstrated experience with independently handling both day-to-day and complex benefit inquiries.
Strong written and verbal communication skills, and the ability to manage inbound calls, email and employee inquiries related to the company’s benefit. Ability to communicate and collaborate with various levels across the organization.
Detailed oriented, well organized, and high attention to accuracy.
Solid project management and problem-solving skills and is results-oriented.
Self-starter and able to handle multiple priorities.
Ability to work as an effective team player as well as work independently.
Advanced PC skills in MS Office Suite, specifically MS Excel and Power Point. Experience and / or aptitude using Excel formulas and functions to gather, analyze, manipulate and audit large data sets.
Strong knowledge of databases, report writing and HRIS systems. Previous experience using compensation payroll and benefit systems, preferable ADP Enterprise.
Physical Requirements: This position requires sitting for extended periods of time over 90% of the work period to complete detailed work, typically using a PC. The position occasionally requires working extended periods to meet time sensitive deadlines.