A Compensation or Benefits Specialist evaluates and works to maintain the pay structure and benefits program at an organization. Analyzes wage and salary data and trends, monitors market conditions; works with benefits vendors, processes benefit claims for employees; monitors government employment regulations. May focus specifically on job classifications and compensation or on benefits programs such as pensions.
The Benefits Specialist is accountable for the benefit management system, administration of the SIA Retirement 401(k) plan, planning and creating appropriate benefits communications, and assisting with benefits strategies. Additionally, the Benefits Specialist monitors, analyzes, and makes recommendations using data, including financial data, regarding current benefit programs, new and evolving benefits legislation, and benefits/retirement trends.
Outline of Duties:
Acts as a liaison between the company and various carriers, 401(k) vendor, and third-party administrators
Reviews vendor invoices, resolving disputes, and reporting on fees and costs
Analyzes medical and pharmacy claims data to report weekly claims trends, catastrophic claims, and reports out to management
Evaluates existing benefits programs and proposes changes
Performs audits to ensure benefits program and 401(k) plan accuracy
Explains Associate benefits by conducting meetings and responding to requests
Provides management planning and control information by collecting, analyzing, and summarizing Associate benefit data and trends
Develops and implements effective benefit and retirement communication strategies for each calendar year
Maintains Associate confidence by keeping benefit information confidential
Assists with benefits questions from Associates and their families. Facilitates retiree meetings
Main point of contact for 401(k) retirement, medical, prescription, dental and vision plans
Manages 401(k) eligibility, enrollment, deposits, and funding process
Performs other related duties as assigned.
Minimum Qualifications:
Associate's degree in Human Resources Management, Business Administration or similar required plus 3-5 years of relevant HR experience
Desired Qualifications:
Bachelor's degree plus a minimum of 4 or more years of Benefits and/or HR related experience
SHRM-CP, PHR, Certified Benefits Professional (CBP) certification Project management experience Subaru of Indiana Automotive, Inc. is an equal opportunity employer committed to employing a diverse workforce.
