Senior Employee Benefits Analyst

Fifth Third Bank Cincinnati , OH 45201

Posted 2 months ago

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GENERAL FUNCTION:

This position is responsible to administer select benefit programs in compliance with federal and state regulation as well as established Bank policies. Has an excellent working knowledge of regulations for FMLA, Sick and Safe leave laws. Responsible for the development and implementation of new programs/plans for a more competitive benefit package. Accountable for risk by openly sharing ideas and opinions, and actively following defined policies and procedures all while ensuring a positive customer (employee) experience.

While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

  • Manages multiple health and welfare plans, Third party administrators or vendors to ensure effective operation of programs. Monitors performance guarantees and operation service per contractual agreements.

  • Participates in annual contract review and renewal process for benefit plans.

  • Analyzes benefit experience and utilization patterns for cost control and risk-assessment factors. Reviews and monitors budget to ensure expenses are aligned with financial projections and initiatives.

  • Participates in RFP process. Including development of specifications, summaries, experience data, reporting and analysis of responses.

  • Manages implementation process for new vendors and programs including review of contracts and plan documents (Policies, SPD and Certificates of Coverage).

  • Works with HRIT and HR Operations to set up and ensure benefit plans are administered appropriately.

  • Reviews and coordinates the delivery of employee benefits communications. Ensures communications are consistent with plan documents.

  • Liaison with the outsourced administrator (Employee Care Services Team) for several benefit functions including absence programs.

  • Resolves non-routine problems by evaluating a new approaches to current processes and issues.

  • Assists with the administration and conversion to the Bank's plans when companies are acquired through mergers or acquisitions. Assist with the termination of the acquired company's plans.

  • Responsible for third party vendor management to ensure quality service and accurate administration of plans regarding performance guarantees, operational service levels per contractual agreements.

  • Manages third party administrators (TPAs) regarding resolution of escalated issues including employee appeals, plan design, benefits, reporting and billing.

  • Assists with coordination of annual Open Enrollment/Benefit Fair and conducts training for outsourced administrator representatives.

  • Enhances, designs and manages the Banks family friendly benefit programs such as child and elder back up care and day care programs.

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

  • Bachelor's degree in Human Resources or related field. Master degree preferred but not required.

  • 5-10 years of related experience.

  • HR/Benefits certification preferred.

  • Knowledge of benefits terminology and applicable law (ERISA, FMLA, FLSA, USERRA, HIPPA, Sick and Safe Laws etc.).

  • Strong written and oral communication skills.

  • Must be comfortable with public speaking.

  • Strong desire for accuracy, a concern for detail.

  • Strong problem solving, technical and analytical abilities.

  • Strong interpersonal skills and ability to work in a team environment.

  • Ability to work independently with a multitude of tasks.

  • Proficient in HRIS system, preferably SAP and Business Objects.

  • Must be proficient in the use of PC (Microsoft Office package - Excel, Word, PowerPoint).

Senior Employee Benefits Analyst

LOCATION -- Cincinnati, Ohio 45202

Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.


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Senior Employee Benefits Analyst

Fifth Third Bank