Employee Benefits Specialist

2 weeks ago

Louisville, Kentucky, United States Stock Yards Bank and Trust Full time
Job Overview

The Employee Benefits Specialist plays a crucial role in managing and overseeing various employee benefit programs, including health, dental, vision, life insurance, retirement plans, and other related offerings. This position involves preparing and disseminating information to educate employees about available benefits, particularly during onboarding. The specialist will assess current benefits policies and benchmark them against industry standards, ensuring that services and coverage options are competitive. Responsibilities also include reconciling invoices, resolving disputes, and acting as a liaison between employees and benefit vendors. Additionally, the role encompasses managing Family and Medical Leave Act (FMLA) and personal leave processes.

Key Responsibilities

Daily tasks include, but are not limited to:

Retirement Plan Management:

  • Facilitate ongoing communication and educational sessions for employees.
  • Organize and conduct 401(k) enrollment meetings.
  • Assist in the auditing process and collaborate with auditors.
  • Input all deferral modifications into payroll systems.
  • Ensure timely contributions to retirement plans each pay period.
  • Prepare and coordinate compliance reports.
  • Audit payroll systems to verify contribution accuracy.

Benefits Administration:

  • Manage payment of insurance invoices.
  • Serve as the HIPAA Privacy Officer.
  • Maintain effective communication with insurance brokers and providers.
  • Monitor all benefit-related issues to enhance employee satisfaction and improve plans.
  • Conduct annual benefit renewal negotiations.
  • Coordinate new employee benefits orientation and enrollment processes.
  • Participate in the Open Enrollment period.
  • Collect benefit data annually for competitive market analysis.
  • Oversee the COBRA process, ensuring premium collection and proper notifications.
  • Complete monthly insurance reconciliations.

FMLA and Leave Management:

  • Collaborate with Payroll to ensure accurate leave compensation.
  • Facilitate communication between employees on leave and their supervisors.
  • Manage documentation and notifications related to employee leave.

Audit and Compliance:

  • Ensure accurate processing of life events.
  • Assist with special projects as needed.

Qualifications

The ideal candidate will possess the following qualifications:

  • Bachelor's Degree, preferably in Human Resources or Accounting.
  • A minimum of 2 years of experience in benefits administration.
  • Knowledge of regulations governing employee benefits.
  • Experience with HRIS systems is preferred.
  • Proficiency in Microsoft Office Suite, particularly Excel.
  • Strong verbal and written communication skills.
  • Accounting experience is a plus.
  • Ability to work independently and collaboratively in a team environment.
  • Comfortable engaging with all levels of management and staff.
  • Excellent organizational and planning skills.
  • Proven skills in presentation and facilitation.
  • Strong writing capabilities.
  • Creativity and patience in problem-solving.
  • Ability to handle confidential information with discretion.

Benefits Offered

  • 401(k) plan with a company match.
  • Employee Stock Ownership Plan (ESOP).
  • Comprehensive medical, dental, and vision insurance.
  • Various supplemental insurance options.
  • Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA).
  • Life and disability insurance coverage.
  • Employee Assistance Program (EAP).

Physical Demands

This position primarily involves sitting for extended periods. The work environment is indoors and typically maintains a moderate noise level during regular business hours. Reasonable accommodations may be made to enable individuals with disabilities to perform essential job functions.

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