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Senior Benefits Analyst

3 months ago

Newark, New Jersey, United States Federal Reserve Bank Full time
Company Federal Reserve Bank of Atlanta As an employee of the Atlanta Fed working for the Office of Employee Benefits (OEB) in Newark, NJ, you will help support our mission of promoting the stability and efficiency of the U.S. economy and financial system. Your work will affect the economy of the Southeast, the United States, and the world. The work we do here is important, and how we do it is just as important as what we do. We live our values of integrity, excellence, and respect every day. We do the right thing, we do things right, and we treat people right. A career at the Federal Reserve Bank of Atlanta gives you the chance to do work that touches lives and helps communities prosper.

In addition to competitive compensation, we offer a comprehensive benefits package that includes tuition assistance, generous paid time off, top-notch health care benefits, child and family care leave, professional development opportunities, a 401(k) match, pension, and more. All brought together in a flexible work environment where you can truly find balance.

Position Summary:

You will be working in Newark, NJ for a division of the Federal Reserve Bank of Atlanta (Office of Employee Benefits -OEB) and will be responsible for the day-to-day operations, administration, communications and compliance of the Federal Reserves Health & Welfare Benefits Plans Administration. You will have sound knowledge of laws governing benefits compliance and be responsible for ensuring compliance with industry regulations, as well as creating communications for assigned benefit programs. You will interact with Federal Reserve System stakeholders, plan vendors, and plan participants, including retirees, of the Federal Reserve Banks, the Board of Governors, and the Consumer Financial Protection Bureau (CFPB). You will report to the Benefits Plan Manager.

Location: Must live within commuting distance of Newark, NJ office.

We are a hybrid work environment.

Key Responsibilities:

  • Seasoned individual contributor with subject matter expertise accountable for day-to-day operations of one or more of the System Health & Welfare programs
  • Primary point of contact with outsourced service providers and Federal Reserve Bank, Board, CFPB payroll and HR representatives
  • Research issues and respond to inquiries from service providers, stakeholders, plan participants and Payroll groups
  • Identify impacts to benefits programs as a result of required laws and regulations governing benefit plans compliance and recommend necessary plan design adjustments and amendments
  • Partner with internal communications team and third-party service providers on development of benefits communications, including annual enrollment materials, plan handbooks and participant communications
  • Identify best practices, perform benchmark analysis and comparisons, and evaluate emerging trends
  • Develop presentations and other materials in support of OEB and departmental goals and objectives

Education: Bachelor's Degree or 4 years equivalent experience preferred
Experience: Five or more years, preferred

Functional Knowledge Area Preferences:

  • Broad experience in day to day benefit plans administration for a plan sponsor, including health care, wellbeing, income protection and leave of absence plans.
  • Ability to manage third party vendors and build productive business relationships. Experience working with vendors to achieve best-in-class administration and provide recommendations to leadership
  • Work with Reserve Bank representatives and vendors to identify/resolve escalated issues in a timely manner
  • Partner with Communications and vendors on employee benefit communications, including annual enrollment materials, Employee Benefits Handbook and letters to carriers/participants and ensuring that all benefits are effectively communicated to employees

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change (e.g. emergencies, rush jobs, change in workload or technological developments).

The Federal Reserve Bank of Atlanta is an equal opportunity employer.

Full Time / Part Time Full time Regular / Temporary Regular Job Exempt (Yes / No) Yes Job Category Work Shift First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

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