US Benefits Compliance/Finance Specialist

AstraZeneca•Gaithersburg, MD

22d•Onsite

About The Position

AstraZeneca is a global biopharmaceutical organization dedicated to the discovery, development and commercialization of prescription medicines for some of the world’s most serious diseases. We need great people who share our passion for science and have the drive and determination to meet the unmet needs of patients around the world. If you’re curious about what science can do, then you’re our kind of person. We are looking for a US Benefits Finance Specialist. This role ensures compliance with US Benefits Programs in partnership with the US Total Reward Director, Benefits Lead, and Controller. In this role you will provide specialist advice and guidance to manage the risks associated with US Benefits. Support business relationships and provide analysis to guide business decision-making. Liaise with internal and external parties on behalf of the business where appropriate. And you will act as a technical authority in US Benefit Plans, demonstrating expertise and solid understanding of fiscal and regulatory requirements associated with employee benefit plans.

Requirements

Minimum 3 years of relevant experience including employee benefits management, finance, compliance, or legal.
Bachelor’s Degree (preferred in Business Administration, Finance or related field).

Nice To Haves

Demonstrated understanding of various benefit plans.
Detail oriented, strong problem-solving skills with the ability to effectively assess and diagnose business needs and develop impactful solutions.
Ability to quickly build relationships of trust and credibility with internal stakeholder-partners and to be seen as a partner to the business.
In-depth critical thinking and creative problem-solving skills.

Responsibilities

Assist in the production of accurate, timely management reports for the business area.
Develop and administer the overarching annual financial controls, compliance and assurance program
Responsible for preparing and reviewing benefit plan financial statements and representations for statutory filing and reporting purposes in the US, supports external resources (e.g. actuary) in preparing financial statements, and reviews financial budgets for the US Reward Cost Center and US benefit plans
Maintains current knowledge of regulatory and compliance related matters involving financial reporting, and the AZ US Benefits.
Responsible for management reporting on benefits spend, and research, analysis and evaluation of benefit plans and programs.
Partner with the US Benefits team on various health and welfare, retirement plan, and merger/acquisition projects, as needed.
Responsible for management reporting of benefits spend in the US.
Leads the data collection, preparation, and review process for the US as it relates to annual financial statement audits, Form 5500, Form 11-k, Summary Annual Reports, Summary Material Modifications, and other required benefit plan required filings.
Manages all aspects of the US benefit plans in compliance with Federal and State requirements, AZ and industry accounting policies, and within appropriate controls to ensure the validity and reliability of financial statements for the annual audits.
Responsible for providing financial analysis, insight and trend data on Health & Welfare matters.
Conduct reviews to identify key compliance issues and trends and recommend changes to benefits programs in the US.
Develop and document procedures to streamline processes and ensure compliance with regulatory requirements.
Supports program design analysis, budgeting and implementation of assigned projects.
Compiles ad hoc reports and data to be used in budgeting and forecasting
Analyses the cost of ongoing plan management, and of changes to benefit plans.
Anticipate and plans for long-term financial needs and trends.
Engages with major stakeholders to obtain agreement for the implementation of changes to benefits financial strategy in the US as the need arises.
Lead all aspects of the implementation of financial and internal policies to ensure compliance with all applicable federal and state legislations such as ERISA, HIPAA, and ACA, etc.
Develops and administers financial attributes of benefit plans.
Liaises with HRIS, Payroll, and Benefits Administrator to identify, retrieve and analyze relevant employee benefits data.
Complete 3rd party risk management assessments, Privacy Impact Assessments, Transfer Impact Assessments for benefit suppliers and ensure benefit contracts and business associate agreements are updated for any regulatory updates.
Reviews annual Service and Organization Controls (SOC) 1 reports for benefit suppliers to evaluate their internal controls relevant to financial reporting and processing.
Support annual open enrollment and non-discrimination testing.