Health & Welfare Benefits Financial Analyst

SK Battery America • New York, NY

63d • $95,000 - $105,000 • Hybrid

About The Position

We are seeking a Health & Welfare Benefits Financial Analyst to join our Firm. Within this position, you will be responsible for supporting the Firm's health & welfare benefit plans/programs by collecting and maintaining financial data and preparing and reviewing data analytics to assist in the financial management of these benefit plans and programs. This position will be based in our New York office and has a hybrid in-office/remote working schedule. Please note that the Firm will not sponsor applicants for work visas for this position.

Requirements

• Knowledge of Firm operation, policies and procedures
• Pays attention to detail and data accuracy
• Works well independently, takes initiative and works well with limited supervision
• Strong written communication skills including strong grammar and proofreading ability
• Ability to synthesize, interpret and summarize information in a clear, concise manner
• Must be highly organized with ability to work well under pressure and manage multiple high-priorities in a fast-paced environment; flexible and adaptable
• Strong computer skills; high proficiency in MS Word and expert level MS Excel skill set, HR systems, Database systems
• Strong skills in data mining, manipulation, and analysis
• Knowledge of laws and regulations impacting employee benefits
• Knowledge of payroll and accounting functions, as they relate to the interaction with benefits
• Proficient in mathematical and accounting principles, general ledger, budgeting and budget variance analysis
• Keeps matters confidential
• Strong customer service and interpersonal skills
• Is a team player; deals courteously/effectively with others
• Flexibility to adjust hours to meet operating needs
• Bachelor's degree
• Minimum of three (3) years of related experience
• Self-insured health plan financials experience required.

Nice To Haves

• Workday experience preferred

Responsibilities

• Support the financial planning and development of benefit plans including but not limited to medical, dental, vision, life, and disability.
• Participates in the financial tasks associated with the benefit programs planning including the development of rate setting, forecasting, and the impact to the P&L and balance sheet.
• Updates budget spreadsheets and maintains all related financial accounting and reconciliation data including collecting data from both internal and external resources, maintaining census information, premium and claim spreadsheets and other related reports.
• Analyzes monthly claims tracking reports for self-insured plans including paid claims and all fixed costs associated with the plans.
• Develops self-insured medical plan trend reports utilizing databases provided by the insurance carriers.
• Develops and maintains budgetary spreadsheets and maintains all related financial accounting and reconciliation data including but not limited to: collecting all relevant data from both internal and external resources, maintaining and updating all related annual/monthly carrier premium claim spreadsheets and related census data, departmental budget spreadsheets, and all other related reports.
• Reviews and reconciles carrier invoices and facilitates payment of invoices.
• Analyzes trends and assists in the development of recommendations of plan design and contributions by identifying savings opportunities to control costs.
• Conducts auditing functions to ensure data accuracy and integrity
• Support day-to-day project management by coordinating the scheduling of meetings with carriers and brokers and maintaining records and notes, tracking take-aways items from meetings and responsible to follow-up with stakeholders for associated items.
• Assist with the review of materials provided.
• Work with brokers and consultants to support the management of third-party vendor relationships to ensure efficient and effective management and administration of all benefit plans.
• Supports the annual renewal processes for all health and welfare benefit plans and programs including but not limited to: guiding the renewal timelines, analyzing proposals and negotiating pricing and applicable contract terms, and developing associated budget and financial analysis spreadsheets to be presented to senior leadership.
• Assist in reviewing benchmark data to identify industry and competitor trends.
• Supports research of best practices using market surveys, networking, and other sources of industry information, to recommend competitive and cost effective benefit packages.
• Anticipates and meets partner and employee needs in a timely and professional manner.
• Performs other duties as assigned.

Benefits

• The overall well-being of our team is important to us. We offer generous benefits to help you achieve wellness in all areas of your life.
• Competitive salaries and year-end discretionary bonuses.
• Comprehensive health care (medical, dental, vision), savings plan/401(k) and voluntary benefits.
• Generous paid time off.
• Paid leave options, including parental.
• In-classroom, remote, and on-demand learning and professional development opportunities.
• Robust well-being classes and programs.
• Opportunities to give back and make an impact in local communities.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level