Analyst – Benefit Programs Details

Analyst – Benefit Programs

Momentive - Waterford, NY

Employment Type : Full-Time

At Momentive, we aspire to build a culture that recognizes and embraces differences and fosters an environment where employees are comfortable expressing their true selves while being respectful of others.

Becoming a part of Momentive’s diverse culture means embracing the innovative spirit our customers value. When you join Momentive, you will be surrounded by teams that take the initiative to understand and to learn every day, offer new and unique ways to challenge the status quo and place a premium on the principles of action and agility. If you want to challenge your abilities, expand your skills, and discover new opportunities for growth, we’d love to talk. Let’s start the conversation.

Position Title:

Analyst – Benefit Programs
Position Summary:

The Analyst-Benefit Programs is part of the U.S. Benefit Team and is accountable for the delivery and implementation of comprehensive, competitive health, welfare & retirement benefits, which may include, but is not limited to: medical, dental, vision, pharmacy, wellness, HSA, FSA, life, disability, employee assistance, voluntary or ancillary benefits, and qualified and non-qualified pension plans.
Job Description:

Benefits Administration

• Supports administration of all benefit programs (e.g., health and welfare, retirement plans including qualified and non-qualified pension plans, etc.). Ensures that benefit programs operate in compliance with plan designs, carrier contracts, Company policies, and applicable laws and regulations. Responsible for all administrative duties for the defined benefit pension plan, including research of data for actuaries, maintenance of pension payment data, and all appropriate files in an electronic system.
• Participates in the preparation, development, and implementation of new benefits, initiatives, programs, and policies including the evaluation and selection of service providers.
• Assists in the development and preparation of all plan documents, amendments, contracts, summary plan descriptions, required disclosures, including Summary Annual Reports (SARs), Summary of Benefits Coverage (SBC), fee disclosure, Summary of Material Modifications (SMM), and all forms of communication materials relating to benefit plans.
• Assists in the coordination and implementation of the benefits annual enrollment.
• Creates documentation for new processes and accurately updates existing documentation based on enhancements made to existing processes. Creates and monitors processes and supports continuous improvement efforts.
• Assists in the review and investigation of eligibility appeals process; reviews appeals, make recommendations, and communicates outcome to colleagues.
• Maintains knowledge of laws and regulations related to benefit programs and stays current with pending changes in laws and regulations and their impact on programs and ensures actions are in compliance.
• Manage regulatory filings and ensure timeliness and accuracy of required filings (such as PBGC, Form 5500s, Annual Funding Notice, PCORI, Medicare Part D, etc.).
• Ensure plans are operated in accordance with our internal controls and in compliance with the plan documents and ERISA.
• Partner with HRIS team for the transfer of data to external contacts for services, premiums, and plan administration.
• Respond to complex benefit design questions by interpreting plan provisions.
• Evaluate and revise internal processes to reduce costs and increase efficiency in Plan administration.
• Other miscellaneous duties as assigned.
  

Provide Analytical Support

• Collect, and analyze and report experience data to enable data-driven decision-making and plan design changes.
• Maintain and augment policies and precedent documentation; demonstrate independent thinking in the application and interpretation of these policies.
• Coordinate wire transfers with Accounts Payable/Treasury.
  

Research Best Practices

• Respond to benefits surveys.
• Support and assist in understanding market trends and partner with the Americas Benefits Leader to implement market -based opportunities and best practices.

PHYSICAL DEMANDS / WORK ENVIRONMENT

The physical demands and work environment characteristics described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Regularly required to sit; talk and hear, use hands to type, handle or feel. The employee is frequently required to reach with hands and arms. Visual acuity to use a keyboard, prepare and analyze data and figures; transcribing, viewing a computer terminal; extensive reading. May require ordinary ambulatory skills sufficient to visit other locations; or the ability to stand, walk, lift, carry and move light to medium weight. Requires good hand-eye coordination, arm, hand, and finger dexterity, including the ability to grasp, and visual acuity to use a keyboard, operate equipment and learn technical information. Light lifting is required.

The environment for this position is an office setting. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Additional Details:

Minimum Qualifications:

• Bachelor’s degree
• Minimum of 3 years of health and welfare benefits experience
• Project management and vendor management experience
• Strong MS EXCEL skills
• Knowledge of applicable laws and regulatory requirements
• Demonstrate effective oral and written communication skills
• Actively listen to truly understand customer need/request
• Demonstrate keen attention to detail

Preferred Qualifications

• Experience with pension plan administration
• Experience with self-insured benefit plans
  

Disclaimer: We are an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran or any characteristic protected by law. In order to be considered for this position candidates are required to submit an application for employment and be of legal working age as defined by local law. Additionally, where permitted by law, final candidates may be subject to a background investigation, medical fitness test and drug test depending on the role and the location of the position.