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Benefits Analyst, Health and Welfare, Retirement at BMW Shared Services, LLC in Woodcliff Lake, New Jersey

Posted in General Business 30+ days ago.

Type: Full-Time

Job Description:

As the Benefits Analyst, you are responsible for benefit plan administration with respect to pension, health and life insurance coverage, income continuance/disability/FMLA. Your primary duties include assisting employees on benefits queries and working with numerous benefits vendors to ensure that all benefits are properly administered with respect to coverage, claims procedures, plan documentation, contractual obligations, etc. The plan administration includes operational execution and legislative compliance of health and retirement plans. You will also be responsible for performing data analytics that include employee census of current plan option participation, enrollment elections as well as financial analysis and budget development.

As the Benefits Analyst, you are the key contact for associate benefits questions and coverage change approval following life events. You are responsible for associate wellness programs and activities, and you administer Short Term Disability, Long Term Disability, Family and Medical leaves, and ADA Accommodations in accordance with Federal, State and Local laws and regulations and Workers Compensation.

You will serve as contact for Benefits Vendors with respect to Plan documents and operational needs including managing the annual enrollment process each year, as well as implementing vendor changes, off-cycle benefit changes, and special projects. You will review documents and recommend changes in conjunction with vendor and Financial Services.

Responsibilities include but are not limited to:

• SPDs & SBCs for Medical Vendor

• Fidelity review for 401k and RIA eligibility and processing

• Analyze, audit and reconcile bi-weekly wire transfer of funds, payment of loans and determine forfeitures for each BMW entity in addition to verifying BMW's contributions.

• Provides planning information by collecting, analyzing, and summarizing employee benefit data and trends.

• Work with external auditors and other vendors to verify employee data as requested for all annual compliance requests and projects, such as Total Rewards portal.

• Maintains and updates employee demographic data or distribution lists to ensure that current employees and terminated vested employees receive proper notification of mandatory retirement plan notification changes (summary funding notices, SMMs, etc.).

• Investigate and resolve escalated benefit claims/eligibility issues. Coordinate resolutions through review of applicable materials and discussions with vendors, team members and internal depts, including HR and Legal.

• Process bi-weekly disability payroll.

• Review employee eligibility and parameters/rules for annual RIA funding and executes payment.

Join the BMW Shared Services team and enjoy a high-performance Total Rewards package that may include:

  • Medical, Dental, and Vision insurance
    • All with options for $0 Employee contribution

  • 401(k) with Company match

  • Retirement Income Account (RIA)

  • Employee vehicle program

  • Bonus eligibility

  • Paid Parental Leave of up to 6 weeks

  • Paid Time Off in addition to Company paid holidays where eligible

  • Hybrid work environment

  • Voluntary Benefits to fit your needs

The pay range for this role is $69,204.00 - $82,989.00.

The selected candidate's education, skills, experience, and location will be used to determine the final salary offer. This statement is in accordance with state and local pay disclosure requirements.

Even more so than the generous compensation and benefits, the culture and values of Shared Services make it the ultimate working environment. These values are Responsibility, Appreciation, Transparency, Trust, and Openness. We allow these values to guide the way we conduct ourselves and our business.

At BMW, we are driven by diversity, equity, and inclusion. We are proud to be an Equal Opportunity Employer and are welcoming of all individuals, regardless of race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or protected veteran status. Requirements:

  • Bachelors degree in Human Resources, Business, Management, Accounting or Finance or equivalent experience

  • 3 years relevant experience in Benefits or Finance

  • 2 years data analytics experience

Additional skills:

  • Highly organized with keen attention to detail and ability to prioritize multiple competing deadlines

  • Strong interpersonal and written/verbal communication skills

  • Strong reading comprehension and ability to apply and administer benefits laws and regulations

  • Able to handle sensitive information with the highest degree of integrity and confidentiality

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