Senior Benefits Analyst and Compliance Partner

Digi-Key Corporation • Thief River Falls, MN

131d • $80,000 - $110,000

About The Position

The Senior Benefits Analyst and Compliance Partner is responsible for data analytics and plan compliance requirements for the DigiKey Group Benefit Plan and Wellness Programs. This position will be responsible to provide reports, analysis, and any other information as requested by leadership. This position will guide special projects; provide regulatory interpretation; perform compliance reporting; and develop and implement compliance auditing and monitoring strategies. This position partners in the work of the Total Rewards Benefits Team to develop, recommend, and install approved, new, or modified plans and employee benefit policies, and consults on administration of existing plans. This position will serve as the plan manager for retirement plans offered under the group benefits plan, providing analytics to support data driven decisions for benefit and wellness plan engagement.

Requirements

• Bachelor's degree in Human Resources, Business Administration, Finance, or a related field; or equivalent relevant work experience.
• 6 - 9 years of experience in the Health & Welfare and 401(k) Plans.
• Strong analytical, problem-solving, and technical skills are critical.
• Advanced skills and experience in using Excel. Proficient in the use of Word, PowerPoint.
• Organized and detail oriented with strong verbal and written communication skills.
• Continuous improvement mindset.

Nice To Haves

• Knowledge of ERISA, IRS and DOL regulations.
• Experience leading enterprise-wide initiatives.
• Experience with Workday configuration and/or testing.

Responsibilities

• Develop and maintain standard reports if required for the benefit, wellness and leave of absence programs.
• Participate actively in all new vendor implementations.
• Assist the Workday HRIS team with changes to the configuration, documentation and maintenance of automated benefit processes and integrations with vendors.
• Interpret census data and evaluates it for accuracy.
• Serve as resource in annual renewal process and new vendor implementations monitoring for compliance with DigiKey specifications, identifying key differences in bids, and maintaining client databases within internal systems.
• Liaise between benefit vendors/carriers and DigiKey with respect to data analytics and data transfer for plan eligibility, participation, coverage, compliance matters and other benefit matters.
• Add to and maintains client access to external online portals.
• Confer with internal clients, outside consultants, attorneys, third party administrators, benefit record keepers, and carriers to furnish or request necessary data.
• Responsible for all aspects of health and welfare and retirement plan compliance including reporting, filing of plan documents, audits, forms 5500, and all federal, state, local and other regulatory requirements such as ERISA, COBRA, and HIPAA.
• Responsible for all aspects of Affordable Care Act (ACA) compliance, including management of ACA reporting and review and sign-off of data submitted.
• Participate in annual audits as needed and completes annual non-discrimination testing for group health and 401(k) plans.
• Respond to requests for information required by the organization for its regulatory filings.
• Support Open Enrollment, including benefit administration configuration and testing, plan document review and employee enrollment support.
• Evaluate current practices to improve efficiencies, innovate to solve problems, utilize data to build business cases.
• Execute business plans and contributes to the development of functional strategy and develops and executes business processes and ensures accuracy and consistency.
• Perform other incidental and related duties as required and assigned.

Benefits

• Competitive benefits package including health and welfare plans.
• Career development opportunities with hands-on training and resources.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Industry: Computer and Electronic Product Manufacturing
• Education Level: Bachelor's degree