What are the responsibilities and job description for the Employee Benefits Analyst (Hybrid) position at Maps Credit Union?
Description
CU Benefits Alliance, an employee benefits consultancy and subsidiary of Maps Credit Union, seeks a full-time Employee Benefits Analyst to assist our team in analyzing the financial aspects of employee benefits programs, including healthcare, life insurance and disability coverage by gathering data, calculating costs, identifying cost-savings opportunities and presenting insight to optimize benefit packages. This position supports consulting services and enhances operational efficiency by contributing to administrative and project management tasks.
If you love data, are proficient with technology, and want to be a part of a team committed to bettering the lives of credit union employees, this may be the position for you.
Key responsibilities include:
Analysis and Reporting
- Preparing self-funded claims projections, RFP analysis, benchmark reporting and employee contribution modeling. Deliver key findings and recommendations to senior management.
Cost Modeling
- Developing financial models to project future benefit costs, including the impact of demographic changes, healthcare inflation, and plan design modifications.
Benefit Plan Evaluation
- Comparing different benefit plan options from various providers to identify the most cost-effective and employee-friendly choices.
Negotiation with Vendors
- In partnership with the Underwriting team, negotiating contracts with insurance carriers and other benefit providers to secure favorable rates and terms.
Administrative Support
- Assisting in reviewing benefit plans, contracts, and policy documents to ensure accuracy. Create engaging materials, packets, and presentations.
Requirements
Knowledge, Skills & Abilities Required:
- Financial analysis skills: Basic understanding of financial statements, budgeting, and forecasting techniques.
- Data analysis proficiency: Ability to manipulate and interpret large datasets using data analysis tools.
- Technical proficiency: Advanced Microsoft Office Suite experience, specifically with Excel/spreadsheets (pivot tables, data analysis, graphs/charts, etc.) and creating PowerPoint presentations.
- Analytical thinking: Ability to identify trends and assess risks based on data analysis. Ability to recognize problems and prevent them.
- Project management skills: Ability to manage multiple tasks simultaneously and meet deadlines.
- Communication skills: Excellent written and verbal communication skills to effectively present complex information to stakeholders. Ability to create engaging presentations. Solid proofreading skills.
- Benefits/Healthcare Industry expertise: Knowledge of employee benefits programs including health insurance, life insurance, and disability coverage. Understanding of underwriting principles.
- Relationship skills: Ability to work with co-workers, members, third-party vendors, and outside agencies professionally and tactfully.
- Professionalism and Confidentiality: Ability to maintain confidentiality of sensitive information.
Qualifications:
- Bachelor’s degree in business, finance or a related field, or an equivalent combination of education and experience.
- Minimum of 2 years of experience working directly with employee benefits analysis.
- Life, Accident, and Health Insurance License (Must be licensed within 3 months of hire. Achievement of license will be supported by employer.)
- Experience working with financial industry clients is preferred.
- Financial underwriting-related work experience is preferred.
- Experience underwriting employer health and welfare plans is preferred.
Starting exempt pay range: $64,877 - $79,294 per year, depending on relevant experience.
Work schedule: Monday – Friday, business hours. This is a hybrid work opportunity (3 days remote, 2 days onsite per week.)
To show our appreciation to employees, we offer:
- Medical, Dental, and Vision Insurance
- Health Savings Account (HSA)
- Flexible Spending Accounts (FSA)
- Employer-paid Life Insurance
- Employer-paid Short-Term and Long-Term Disability Insurance
- 401(k) retirement plan with employer matching
- Paid time off
- Paid holidays
- Employee Assistance Program
- Student loan paydown program
- Employee loan discount program
- Wellness incentives
About us:
At CU Benefits, we are innovators in designing, delivering, and managing employee benefits plans that empower credit unions' most valuable asset—their employees. With unmatched expertise in the employee benefits industry, our team understands the importance of making benefits both affordable and strategically aligned with the needs of businesses and their employees. Join us in redefining employee benefits with solutions that drive value, support well-being, and strengthen workplace success.
All qualified applicants will receive consideration for employment without regard to race, color, sex, sexual orientation, gender identity, religion, national origin, disability, veteran status, age, marital status, pregnancy, genetic information, or other legally protected status.
Salary : $64,877 - $79,294
