Summary: The Benefits Manager plays a key role in defining and executing our benefits strategy by developing, implementing, and managing benefits and leaves. The Benefits Manager is responsible for the ongoing operations of benefits programs, program compliance, and analysis related to providing strategic and design recommendations to executive management. The Benefits Manager provides exceptional service to employees, benefits vendors, and advisors.
Expected Outcomes: Success in the Benefits Manager role requires an individual to be both strategic and hands-on in leading all facets of benefits to deliver a world-class employee experience. The successful candidate will work to ensure our benefits are competitive and drive business results while both reflecting and enhancing our culture.
Essential Duties and Responsibilities:
- Manages day-to-day benefits with employees and acts as internal subject matter expert.
- Serves as the primary contact for outside benefits advisors and vendors.
- Researches, analyzes, and recommends benefits programs.
- Evaluates benchmarks and competitive trends, in conjunction with outside advisors, for benefits offered by other organizations.
- Reviews, verifies, and reconciles invoices and executes balance billing for related plans.
- Oversees and maintains complete and accurate employee benefits records and manages related audits, processes, and controls to ensure completion and accuracy.
- Adapts, documents, and maintains administrative procedures for benefits processes.
- Plans, prepares, and distributes written information and conducts employee meetings, including open enrollments, to provide benefits education.
- Promotes wellness and other initiatives that support employee well-being.
- Oversees the management and day-to-day execution of the 401k and ESOP including vendor management, accounting coordination, and all compliance activities.
- Manages the full leave administration process, including required paperwork, eligibility determination, leave designation, certification requests, and leave tracking and calculation.
- Maintains communication with employees on leave to facilitate smooth and timely return to work; facilitates and coordinates communication between employees and their managers.
- Oversees and completes relevant 5500 filings, related audits, and ACA reporting.
- Maintains knowledge of and ensures compliance with all applicable laws including ACA, ERISA, HIPAA, FMLA, COBRA, ADA, ADAAA, FLSA, state, and local laws.
- Requires at least 5 years’ experience in benefits planning, administration, and analysis.
- Benefits certification preferred; must demonstrate intermediate to advanced understanding of medical, dental, vision, disability, life, FSA, HSA, TSA, 401k, and similar benefits.
- Must have experience building relationships with vendors, advisors, and internal stakeholders to ensure effective collaboration, support, and service.
- Requires demonstrated excellence in interpreting and explaining benefits plans and policy features to a broad audience with variable familiarity of benefits.
- Absolutely must exhibit outstanding skills in communication, organization, follow-up, and follow-through with a strong propensity toward action, customer service, and teamwork.
- Must demonstrate strong analytical, problem solving, and project management skills.
- Requires intermediate knowledge of Excel, Word, Outlook, PowerPoint, Zoom, and Teams.
- Requires working knowledge of applicable benefits laws with a demonstrated ability to apply that knowledge to real-world circumstances.
- Must exhibit strong professionalism, ethics, confidentiality, and a high moral standard.
- Must display the ability, through experience, to exercise effective judgment, sensitivity, and creativity to changing needs and situations.
- Must possess a strong comfort level working with HR-related technology and systems.
- Requires the ability to think broadly, establish credibility, and collaborate effectively with key stakeholders in a fast-paced, ambiguous environment.
- Requires learning agility, discipline, flexibility, self-start, self-direction, forward-thinking, problem-solving, and the ability to effectively manage multiple competing priorities.
All employees are expected to contribute to the overall success of the organization by performing requested duties regardless of explicit inclusion in the job description or reasonable relation to an employee’s primary role. Additionally, all employees must understand and adhere to all federal and state laws and banking regulations and company policies and procedures applicable to assigned job responsibilities, including compliance as appropriate under the Bank Secrecy Act and Anti-Money Laundering regulations.
Additionally, all employees are expected to demonstrate the following Core Competencies:
Professionalism – acting with responsibility, integrity and accountability; demonstrating consistent trustworthiness and reliability; always remaining flexible, adaptable and willing to accept coaching; building and managing professionally healthy relationships; deliberately managing career decisions; and continually developing awareness of business-related topics.
Communication – understanding various active and passive tools and styles and their effects; and exhibiting appropriate, effective, timely use of tools and styles to connect, collaborate, facilitate teamwork and serve customers.
Work Quality – demonstrating an ongoing commitment to compliance, safety and security; executing work with efficiency, a sense of urgency and attention to detail; and displaying organized work practices and a results-oriented mindset.
Analytical Ability – navigating work-related circumstances with practical, sound reasoning; and demonstrating creativity in problem solving.
Leadership – displaying good judgment and certainty in decision making; taking initiative with job-related demands; demonstrating innovative thinking and sound planning with business practices; managing individual performance toward shared organizational goals; and thinking strategically to set and accomplish goals.
Merchants Bancorp and its affiliates and subsidiaries are committed to being equal opportunity employers. All job candidates and incumbents will be assessed based on only criteria relevant to successfully performing the job as defined in this job description and as generally accepted in the job’s relevant industries.