Our client a progressive and leading financial services organization is looking for a benefits manager to join their team.
The Benefits manager is responsible for administration of employee benefits in all company operations.
As needed, this position provides special guidance and assistance to all locations on various employee benefit plans.
The Benefits manager surveys industry and/or community to determine company’s competitive position in employee benefits.
This position develops, recommends and installs approved, new or modified plans and employee benefits policies and supervises administration of existing plans.
This position develops cost control procedures to assure maximum coverage at the least possible cost to company and employee.The manager plans, develops and implements new and revised compensation programs, policies and procedures to be responsive to the company’s goals and competitive practices.
This position is also responsible for ensuring through audits, legal reports and personal interactions that company compensation programs are consistently administered in compliance with company policies and government regulations.Essential FunctionsAdminister employee benefits programs such as retirement plans; medical, dental, visionplans; life insurance plans; temporary disability programs; and wellness programs.Evaluate and compare existing company benefits with those of other employers by analyzing other plans, surveys and other sources of information.
Plan, develop and/or participate in area and industry surveys.
Analyze results of surveys and develop specific recommendations for review by management.Develop specifications for new plans or modify existing plans to maintain company’s competitive position in labor market, andRecommend classes of eligible employees for new or modified plans.
Develop census data and solicit insurance companies for quotations.
Evaluates quotation and make recommendations to management.
Develop company cost information for new plans and make premium cost share recommendations to management.Install approved new plans or changes to existing plans by preparing announcement materials, plan summary documents and other media for communicating plans to employees.
Conduct employee meetings and arrange for enrollment.
Advice and counsel management and employees on existing benefits.Prepare and execute, with legal consultation, benefits documentation, such as original and amended plan texts, benefit agreements and insurance policies.
Instruct insurance carriers, trustees and other administrative agencies outside the company to effect changes in benefits program.
Ensure prompt and accurate compliance.Assure company compliance with provisions of Employee Retirement Income Security Act and the Affordable Care Act.
Supervise preparation of reports and applications required by law to be filed with federal and state agencies, such as Internal Revenue Service, Department of Labor, insurance commissioners, and other regulatory agencies.
Review and analyze changes to state and federal laws pertaining to benefits, and report necessary or suggested changes to management.
Coordinate company benefits with government-sponsored programs.Develop benefits information and statistical and census data for actuaries, insurance carriers and management.Handle benefits inquiries and complaints to ensure quick, equitable, courteous resolution.
Maintain contact in person, and by phone or mail, with hospitals, physicians, insurance companies, employees, and beneficiaries to facilitate proper and complete utilization of benefits for all employees.Supervise maintenance of enrollment and claims records for all benefits plans.Monitors the effectiveness of existing compensation policies, guidelines and procedures recommending plan revision as well as new plans that are cost-effective and consistent with compensation trends and corporate objectives; coordinates implementation and provides guidance to corporate staff.Provides advice to corporate staff on pay decisions, policy and guideline interpretation, and job evaluation, including the design of creative solutions to specific compensation-related programs.Manages the administration of direct compensation (executive, exempt and nonexempt cash compensation programs) for corporate staff, including the processing, recording and reporting of compensation-related actions related to salaried employees.Develops techniques for compiling, preparing and presenting data.Supervises the participation in, conducts and/or purchases exempt and nonexempt salary surveys to ensure corporate compensation objectives are achieved.For immediate considertion please email jgoodman@cfs-la.com