The Benefits Compliance Manager is responsible for ensuring federal, state, municipality and, to a limited extent, international compliance with respect to all company benefit programs. The role requires maintaining, updating, documenting, and auditing compliance with all existing as well as emerging legislation. Other responsibilities include benefit plan analytics and oversight of claim funding and vendor invoicing.
The scope of benefit programs includes, but is not limited to:
- Health & Welfare programs such as medical, prescription drug, dental, life, vision, voluntary benefits, and wellness programs.
- Retirement programs such as 401(k) Savings Plan (Qualified and Non-Qualified).
- Time Away from work programs such as paid time off (PTO), sick time, incidental time, paid sick leave, disability, and all leaves of absence.
Job Duties and Responsibilities:
- Manages the benefit program compliance with all federal, state and municipality regulations concerning benefits programs (e.g. ERISA, HIPAA, COBRA, ADA, FMLA, DOL, HRA, HSA, FSA, Section 125) and makes recommendations for compliance risk mitigation/reduction.
- Ensures appropriate controls, documentation, acknowledgements and recordkeeping. Including maintaining a strategic and tactical compliance plan and repository which memorializes documentation such as a compliance calendar, Plan Documents, SPD’s, SMM’s, all required filings such as 5500’s, and other legally required documents and notices.
- Establishes relationships with internal and external partners to ensure effective and efficient compliance initiatives such as company employee benefit communications, post implementation audits, and filings. ensure line of site to emerging legislation and ensure appropriate lead time to manage change with the program, managers, the business, and company roll-out.
- Monitors contracts, administrative service level agreements, administrative fees, performance expectations and overall results to ensure cost-effective, quality, and compliant services are provided. Serves as the compliance subject matter expert on projects, including compliance related due diligence activities for potential providers including NDA’s, PSA’s, ASA’s and other contractual arrangements.
- Manages the preparation and filing of required regulatory reports including Form 5500, and ACA reporting.
- Manages the drafting of deliverables such as: Employee Handbook, Plan Documents, Summary Plan Descriptions, Summary of Material Modifications, Non-Discrimination testing and Summary Annual Reports. Liaising with Consultants, Vendors and Clients to collect data to complete all documents will often be required.
- Provides oversight for the funding for benefit plans, payment of vendors’ fees/invoices, monitoring, reporting and analysis of costs, claims, premiums, and participants in benefit plans.
Position Skills and Requirements:
- Bachelor's degree from an accredited college, or equivalent experience/combined education desired.
- Experience working with benefits processing functions and/or vendors performing these functions.
- Minimum 6-9 years of experience with benefits initiatives and processes, or related experience.
- Extensive experience in health and welfare, retirement, and time away from work plans is required.
- Demonstrated experience with benefits systems and tools. Excellent computer skills, e.g. MS Project, Excel, Word, PowerPoint, SharePoint, etc.
- Strong organization/project management skills. Demonstrated ability to manage multiple assignments/projects, timelines and to identify project interdependencies, resource needs, potential risks/pitfalls and mitigation plans.
- Excellent verbal and written communication skills. Demonstrated experience in preparing and delivering presentations that convey key concepts and outline recommendations to various levels of management.
- HIPAA and CEBS certification preferred.