This position is responsible for overseeing the overall design, implementation, communication and administration of the Bank's health and welfare benefits programs, as well as employee compensation benefits and programs. The primary objectives will be to work with brokers and providers for health and wellness benefits and to develop and maintain the Bank's overall compensation strategies. The purpose of these two functions need to align with the Bank's strategic objectives, support the attraction and retention of top talent, be compliant with federal and state regulations and promote the well-being of our partners and employees. Our company's culture supports customers in achieving their financial goals and dreams. You'll be able to help contribute to this by :
Benefits :
- Lead the development / implementation of new and continuing initiatives to ensure benefit offerings and contribution strategies remain market-competitive, sound financially, and legally compliant
- Develop and implement existing and on-going communication strategies to promote and educate employees on company health and welfare benefits
- Ensure legal compliance of ERISA, DOL, IRS regulations, HIPAA, COBRA, 5500 reporting and other health & welfare regulations required by federal and state laws
- Review and process benefits related life-event enrollments and associated dependent verification
processes
Carry out data audits as needed and review and monitor vendor plan performanceLead the company open enrollment process and ensure timely selection and communication with the vendors and brokerPartner with insurance broker to ensure legal requirements and benefit plan design controls costs to the company and employeesAssist employees with questions regarding their benefits and assist new hires in the selection processReview and manage vendor relationships to ensure excellent service and supportConduct comparative analysis of health plan provisions, practices and costs. Partner with benefits consultant / broker and executive leadership in the selection and negotiation processes for new and renewed benefit plansParticipate in benefits budgeting process, track spending, and ensure all costs are accounted for and reconciledAssist with other HR and Benefits projects and programs as necessaryUpdate and maintain HRIS system with benefit offerings and employee selectionsMaintain file feeds between vendors and HRIS systemCompensation :
Assist in the development, implementation, and administration of compensation programs, policies, and proceduresCollaborate with finance and HR teams to develop and manage the compensation budgetEnsure compliance with applicable laws and regulations related to compensation and benefitsEvaluate and assess job roles to determine appropriate job classifications and salary levelsMaintain job descriptions and ensure they accurately reflect the responsibilities and requirements of each positionConduct salary surveys and market research to analyze industry trends and benchmark the organization's compensation and benefits against competitorsAnalyze internal salary data, job descriptions, and employee classifications to ensure equity and consistencyStay informed about changes in legislation and industry best practicesWork with HR leadership on annual merit reviews and facilitationAnalyze current executive compensation programs for market competitiveness and provide recommendations for enhancementsMonitor impact of shareholder advisory firms and global factors on executive compensation programsQualifications & Skills
Strong communication and interpersonal skillsExcellent organizational, time management and prioritization skillsMust be strong in Excel and reporting experienceProven experience in vendor management, contract negotiations, and cost managementEffective planning and priority setting. Ability to manage several complex projects simultaneously while working under pressure to meet deadlinesStrong analytical skills and a thorough knowledge of plan designs and contract languageKnowledge of all pertinent federal and state regulations, filing and compliance requirements, both adopted and pending, affecting employee benefits programs, including the ACA, ERISA, COBRA, FMLA, ADA, Section 125, workers' compensation, Medicare, OBRA, and Social Security and DOL requirementsAbility to work in a highly confidential environment and exhibit professionalism, especially under pressureProficient in computer applications including Microsoft Word, Excel, PowerPoint and OutlookCandidates must be open to working on a variety of projects and tasksEducation, Experience & Licenses :
College degree (or equivalent experience)CCP or CBP Certification (or equivalent)- PreferredExperience in Business Intelligence reporting (BI)Must be willing to work in officeExperience utilizing UKG for benefits and compensation facilitation- PreferredMinimum two years benefits analyst experienceMinimum one year compensation analyst experienceEqual Opportunity Employer / Protected Veterans / Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
