Compensation and Benefits Financial Analyst

2 weeks ago

Nashville, Tennessee, United States National Community Pharmacists Association Full time

About National Community Pharmacists Association:

The National Community Pharmacists Association (NCPA) is dedicated to supporting independent pharmacies across the nation. We strive to foster a community where innovation, collaboration, and excellence in patient care are paramount.

Our organization values the unique contributions of each individual and is committed to creating an inclusive environment that promotes diversity in thought, culture, and leadership.

At NCPA, we believe that our employees are integral to our mission, and we take pride in cultivating a workplace where everyone can thrive and contribute to the greater good.

Our mission is to enhance the health and wellness of communities through superior pharmacy services, education, and advocacy.


Department:
Human Resources - Compensation and Benefits

Position Overview:

The Compensation and Benefits Financial Analyst is responsible for overseeing the financial management, budgeting, and data analysis related to NCPA's benefits programs. This role involves collaborating with internal HR teams, finance professionals, and external partners to develop and implement effective cost management strategies.

The analyst will work closely with the Director of Benefits to ensure that the financial strategies for health, welfare, and retirement plans align with NCPA's objectives, providing essential data and insights to inform decision-making. This position also supports compliance reporting for benefits programs as required by law.

Key Responsibilities:

- Conduct monthly evaluations of NCPA's benefits programs, focusing on health and pharmacy benefits to identify trends and potential impacts on performance.

- Collaborate with the accounting team to monitor fringe costs and recommend adjustments as necessary.
- Provide finance teams with updates on accruals for key compensation and benefits initiatives.
- Develop budget proposals for annual salary increases and market adjustments.
- Audit vendor invoices to ensure accuracy and compliance.
- Work with external partners, including actuaries and consultants, as needed.
- Analyze health plan expenditure data provided by administrators and collaborate with leadership to identify trends affecting plan performance.

- Partner with the Director of Compensation to create market adjustment strategies for staff positions, coordinating with workforce planning teams to address future staffing needs.
- Lead the annual benchmarking process for NCPA's benefits offerings.
- Conduct quarterly analyses of salary trends for staff.

Core Competencies:

Organizational Impact:

Demonstrates the ability to achieve objectives while understanding their implications for the broader organization.


Problem Solving:
Employs various data sources to analyze and resolve complex issues, often bringing fresh perspectives to existing challenges.

Knowledge and Expertise:
Possesses advanced knowledge in the field of compensation and benefits, with a foundational understanding of related areas.

Team Collaboration:
Serves as a resource for colleagues, potentially leading small project teams.

Core Capabilities:

Supporting Colleagues:
  • Invests in the development of self and others to enhance performance and knowledge.

Relationship Management:
Maintains regular communication with key stakeholders to strengthen professional relationships.

Effective Communication:
Adapts communication style to suit various audiences and situations.

Service Excellence:
  • Anticipates and addresses the needs of stakeholders to provide tailored services.

Quality Assurance:
  • Engages in discussions about quality and addresses issues promptly.

- Continuously seeks to improve processes by identifying root causes of problems and implementing solutions.


Resource Management:
  • Takes ownership of critical issues and drives them to resolution.

Innovation:
  • Proactively identifies opportunities for improvement and embraces new technologies.

Adaptability:
Views challenges as opportunities for growth and actively embraces change.

Qualifications:

Experience:
Minimum of 5 years of relevant experience in compensation and benefits analysis.

Education:
Bachelor's degree required.

NCPA is committed to fostering an inclusive environment that values diversity and equal opportunity for all individuals. We encourage applications from all qualified candidates.

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