Senior Benefits Analyst

Senior Benefits Analyst Wolfspeed, Inc. - 2.9 Durham, NC Job Details Full-time 1 day ago Benefits Health insurance 401(k) Qualifications Defined contribution retirement plans Confidential information handling Process audits Spreadsheets Health insurance policy knowledge HR legal compliance HR systems (technically supported) Bachelor's degree HR compliance Financial compliance audits Financial regulatory compliance Payroll systems (technically supported) Regulatory compliance analysis Financial data analysis tools Data analytics technologies Full Job Description Responsibilities Serves as the subject matter expert and primary administrator for the 401(k) plan, ensuring accuracy, compliance, and effective operations Administers and communicate benefits programs, including plan options, policies, and enrollment requirements Partners with insurance carriers, brokers, and retirement plan vendors to ensure effective program delivery Maintains plan documentation and internal resources Ensures compliance with federal, state, and local regulations (including ERISA, IRS, and DOL requirements) Supports audits, regulatory filings, and compliance activities (e.g., Form 5500 preparation, documentation, and reporting) Oversees benefits survey submissions and ensure data accuracy and alignment with market practices Develops and maintain reports, dashboards, and analytics to monitor utilization, participation, and cost trends Interprets benefits policies and provide guidance to HR partners, managers, and employees Leads Open Enrollment planning, testing, execution, and employee communications Leads advanced analyses of benefits and workforce data to support program evaluation, budgeting, and strategic decision-making Contributes to process improvements and system enhancements across benefits administration Day-to-Day Administers the company's 401(k) plan, along with medical and pharmacy benefits Manages end-to-end 401(k) contribution processes, including: Payroll file audits Contribution preparation and reporting Corrections and funding timelines Performs detailed audits and reconciliations of 401(k) data across payroll, Workday and Fidelity Reconciles contributions, loan repayments, forfeitures, and true-ups to ensure accuracy and compliance Partners with Payroll, Finance, and third-party administrators to resolve discrepancies and operational issues Supports annual compliance testing (e.g., ADP/ACP, top-heavy, coverage testing) and corrective actions Prepares and review data for audits, Form 5500 filings, and regulatory reporting Supports retirement plan governance activities, including committee meetings and vendor reviews Responds to Tier 2 Workday/HR HelpDesk tickets related to benefits Leads Open Enrollment and employee education, including 401(k) and financial wellness programs Identifies and implements process improvements to enhance efficiency, compliance, and employee experience Required Qualifications Bachelor's degree in Human Resources, Business Administration, Finance, Data Analytics, or related field 5+ years of experience in benefits, HR analytics, or related functions Hands-on experience administering 401(k), including contributions, audits, and compliance Strong understanding of retirement plan regulations (ERISA, IRS, DOL) Strong Excel skills (e.g., pivot tables, formulas, data analysis) Experience with HRIS systems (e.g., Workday, SAP, Oracle, or similar) Excellent written and verbal communication skills High attention to detail, integrity, and ability to manage sensitive data Knowledge of health and welfare plans (medical, pharmacy, leave programs) We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, national origin, disability status, protected veteran status, or any other characteristic protected by law.