Employee Benefits Analyst
Make banking a Fifth Third better®
We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank.
ESSENTIAL DUTIES & RESPONSIBILITIES:
- Study and analyze the design, communication, implementation, and administration of benefit programs, policies and plans covering various Health & Welfare programs. Analyze equity of current benefits compared to trends and legislated requirements.
- Analyze costing and funding models to provide competitive plans. Ensure current plans are up to date on all pertinent regulations.
- Facilitate the development and automation of standard reports that assist in making business decisions and strategic planning for the Bank’s Health & Welfare programs.
- Conduct ad hoc analysis to identify improvement opportunities and analysis for management or requested by management, including pulling, analyzing and summarizing large amounts of data.
- Complete surveys for benchmarking and analyses purposes. Review survey results and provide recommendations to management on improvements of Bank*s overall competitive benefits package. Keep up to date on industry trends.
- Review and approve monthly benefit invoices and reconciliations for accuracy completed by HR outsourced vendor.
- Review and ensure data integrity and appropriate sources of data used in data integration tool.
- Play a key role in assuring the accuracy of the HRIS system, including running ad hoc reports for testing and monitoring monthly and quarterly audits.
- Lead and participate in project teams to implement and communicate benefits initiatives.
- Assist with applicable annual government reporting and discrimination tests.
- Manage the publication and distribution of Summary Plan Documents.
- Assists with audits, financial metrics, cost analysis and track/analyze claims experience.
- Assist with annual open enrollment, including communications and testing. Attend annual Benefit Fair and assist employees with questions on benefit plans.
- Pursue opportunities to better connect employees with the company's benefit-related products and services, both in terms of utilization and showcasing the value of the benefits program in relation to total compensation.
- Maintain and recommend improvements to processes, procedures, and documentation to ensure efficiency and effectiveness of program administration.
- As needed, assist HR partners with benefits related escalations and interpretations (enrollment issues, coverage questions, provider information, and plan details).
SUPERVISORY RESPONSIBILITIES:
None.
MINIMUM KNOWLEDGE, SKILLS & ABILITIES REQUIRED:
- Bachelor’s degree or commensurate experience.
- Three – five years of relevant business experience, HR/Benefits experience strongly preferred.
- Knowledge of benefits terminology and applicable law (ERISA, FMLA, FLSA, USERRA, COBRA, HIPPA, etc.).
- Ability to self-identify projects and create meaningful reports while working independently.
- Ability to organize and troubleshoot efficiently and effectively.
- Strong desire for accuracy, a concern for detail.
- Strong written and oral communication skills.
- Must be comfortable with public speaking.
- Strong interpersonal skills and ability to work in a team environment.
- Ability to work independently with a multitude of tasks.
- Strong problem solving, technical and analytical abilities.
- Proficient in the use of Windows based environment, particularly Microsoft Excel, Word & PowerPoint.
- Proficient in HRIS system, preferably Workday.
- Knowledge of medical data warehouse software, general medical and pharmacy protocol and practice and employee insurance benefits.
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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At Fifth Third Bank, we’re working hard to make banking a Fifth Third better. Which, according to the laws of mathematics, 5/3 equals 166.7%. That’s a whole lot of percents. Learn more at http://go.53.com/better
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