Benefits Analyst
Posted on: 22 Mar 2021
Minneapolis, MN
Job Description
Responsible for the day-to-day administration of one or more employee benefit programs, in the functional areas of health and wellness plans (medical, dental, life insurance), retirement programs (401(k), cash balance pension), or deferred compensation plans. Interact with external vendors and internal business partners to drive effective and efficient administration. Provide direction to external vendors to take action. Accountable for regulatory filing and/or reporting requirements to ensure enterprise compliance.
* Serve as a point of contact for internal business partners, including the HR Service Call Center, HRIS, Payroll, Finance, and Legal Affairs, as well as all external vendor partners and plan providers to ensure benefit plan operational efficiency, fiscal accountability, and adherence with plan documents.
* Respond to inquiries from employees and participants on all questions related to various plans. Research, recommend action and oversee resolution of all questions that are submitted through email or phone calls. Direct vendor to make changes. Assess and recommend actions on any contribution or payment issues through Payroll. Process payments and perform reconciliation of vendor invoices for accountable benefit programs.
* Ensure compliance for all plans (within scope of accountability) that fall under IRS Sec. 125, ERISA or 409A regulations by assisting with the completion of 5500s and Summary Annual Reports (SARs), nondiscrimination testing, Summary Plan Descriptions (SPDs) and plan guide updates. Complete Sarbanes-Oxley (SOX) compliance audits and other compliance filings, as required.
* Coordinate and execute the assigned plan's ongoing key processes, including annual benefit open enrollment as applicable. Participate in the annual creation and distribution of total rewards statements to employees. Support implementation activities and initiatives, such as vendor system enhancements, new functionalities and perform testing as needed to ensure a high quality employees and participant experience.
* Respond in a timely manner to issues escalated from the HR Service Call Center, errors, or direct participant inquiries. Responsible for preparing and supporting the delivery of participant facing communications in regards to all assigned benefit plans.
* Bachelor's Degree or equivalent.
* 1-3 years' relevant benefits administration experience.
* Excellent verbal and written communication skills.
* Demonstrated customer service skills.
* Excellent analytical and problem solving abilities.
* Demonstrated attention to detail and audit capabilities.
* Outstanding organizational skills.
* Strong computer skills (e.g. Microsoft Word, Excel, and PowerPoint).
* Demonstrated ability to deliver somewhat complex information in an easily understood manner.
* Ability to interact effectively with all levels of employee and management.
* Experience with Workday.
Ameriprise Financial
Minneapolis, MN
Ameriprise Financial, Inc., through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors. The Asset Management segment offers investment management and advice, and investment products to retail, high net worth, and institutional clients through unaffiliated third party financial institutions and institutional sales force. Its products also include U.S. mutual funds and their non-U.S. equivalents, exchange-traded funds, variable product funds underlying insurance, and annuity separate accounts; and institutional asset management products, such as traditional asset classes, separately managed accounts, individually managed accounts, collateralized loan obligations, hedge funds, collective funds, and property funds.
The Annuities segment provides variable and fixed annuity products to individual clients through affiliated and unaffiliated advisors, and financial institutions. The Protection segment offers various products to address the protection and risk management needs of retail clients, including life, disability income, and property casualty insurance through advisors and affinity relationships.
The Corporate & Other segment consist of long term care business, net investment income or loss on corporate level assets. The company was formerly known as American Express Financial Corporation and changed its name to Ameriprise Financial, Inc. in September 2005. Ameriprise Financial, Inc. was founded in 1894 and is headquartered in Minneapolis, Minnesota.
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IndustryBanking/Financial Services
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No. of Employees14, 000
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Website
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Jobs Posted75
