Total Reward Financial Analyst
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About The Position
The Total Rewards Financial Analyst at Vanderbilt University Medical Center (VUMC) plays a crucial role in managing the financial, budgeting, and data reporting projects associated with the benefits programs offered by Vanderbilt Health. This position is integral to the development and implementation of current and future cost management strategies, collaborating closely with internal HR leaders, finance teams, population health stakeholders, and external vendors when necessary. The analyst will work under the guidance of the Director of Benefits to ensure that the financial direction of health and welfare plans, time off programs, and retirement programs aligns with the overarching goals of VUMC. This includes providing essential data and reporting to inform strategic decisions and support total rewards leaders in preparing legally required compliance benefits reporting. In this role, the analyst will be responsible for the monthly monitoring of VUMC's benefit programs, with a particular focus on health and pharmacy benefits. This involves identifying future trends that could impact performance and coordinating with the central accounting team on fringe cost center monitoring and proposed adjustments. The analyst will also provide finance colleagues with accrual updates for key compensation and benefits programs, develop budget recommendations for annual increases and market adjustments, and audit vendor invoices. A significant aspect of the role includes understanding and analyzing health plan spend data provided by the plan administrator and the Vanderbilt Health Affiliated Network (VHAN). The analyst will develop a close working relationship with VHAN leadership responsible for health plan medical management to identify new trends that may impact the plan's performance. Additionally, the Total Rewards Financial Analyst will collaborate with the Director of Compensation to develop market adjustment plans for staff employees, coordinating with the Workforce Strategy and Talent teams to incorporate future staffing needs. The role also involves leading the annual benchmarking of VUMC's benefit programs and conducting quarterly staff salary trend analysis. This position is designed for individuals who are committed to supporting the mission of advancing health and wellness through preeminent programs in patient care, education, and research, while also fostering a culture of excellence and community within the organization.
