Compensation & Benefits Specialist
- Administers employee insurance programs including life, disability, and health insurance plans.
- Administers employee savings plans that may include the company’s 401(k) plan, personal savings plans, and deferred compensation programs.
- Handling all employee inquiries for benefits administration (ie. qualifying events, enrollment questions, benefit meetings)
- Advises and informs employees of changes and developments related to benefits including eligibility, coverage, and provisions.
- Handling Open Enrollment from start to finish.
- Maintaining accurate file feed records.
- Researches and compares incentive compensation plans offered by demographically comparable organizations; assess competitors’ plans and makes recommendations for enhancements or improvements required to keep the organization’s plans competitive and effective.
- Facilitates accurate and timely delivery of employer contributions and employee payroll deductions to carriers, plan administrators or other appropriate service providers.
- Completes records, reporting, and other documentation required by federal, state, and provider rules, regulations, and policies.
- Conducts employee surveys, census, and other research and demographic efforts required to collect accurate quotes from benefit providers.
- Identifies and selects carriers and plans based on quotes, available benefits, and prior experience.
- Monitors administrators and insurance carriers’ reports to ensure the organization’s compliance with plan requirements.
- Ensures the organization’s and plans’ compliance with the applicable provisions of COBRA, HIPAA, and ERISA.
- Maintains knowledge of economic conditions, labor market, and other factors related to ensuring the organization provides competitive and reasonable benefits and compensation scales and structures.
- Maintains knowledge of trends, developments, and best practices in compensation and benefits administration.
- Performs other related duties as assigned.
- Excellent verbal and written communication skills.
- Extensive knowledge of employee benefits and compensation.
- Strong analytical and problem-solving skills.
- Excellent time management skills with a proven ability to meet deadlines.
- Thorough knowledge of COBRA, HIPAA, and ERISA requirements.
- Proficient with Microsoft Office Suite and Google Suite.
- 2 to 4 years of experience administering compensation or benefits programs required.
- Bachelor’s degree in Human Resources, Business, Finance, or related helpful.
- SHRM-CP or PHR preferred.