Senior Benefits Analyst and Compliance Partner

DigiKey Electronics; BLOOMINGTON (MN); On-site; USD 85,000 - 117,000; Full time

Job summary

DigiKey Electronics is seeking a Senior Benefits Analyst and Compliance Partner in Bloomington, MN. You will lead data analytics, compliance reporting, and plan administration for group benefits and wellness programs, guiding audits and vendor implementations.

You will also manage retirement plan analytics and support enrollment and data transfers. The role partners with Total Rewards Benefits Team to develop and install plan changes and ensure regulatory compliance across ERISA, COBRA, HIPAA,

Qualifications

• Bachelor's degree in HR, business, finance, or related field, or equivalent experience.
• Strong analytical, problem-solving, and technical skills.
• Advanced Excel; proficient in Word and PowerPoint.
• Organized with strong verbal and written communication.
• Continuous improvement mindset.

Responsibilities

• Develop and maintain standard reports for the benefit, wellness and leave of absence programs.
• Assist in all new vendor implementations.
• Support Workday HRIS changes and automated benefit processes integrations.
• Interpret census data and evaluate for accuracy.
• Lead annual renewal and vendor implementations with compliance focus.
• Coordinate data analytics and data transfers with benefit vendors/carriers.
• Add and maintain client access to external portals.
• Collaborate with internal and external partners for data requests.
• Ensure health, welfare and retirement plan compliance incl. 5500s, ERISA, COBRA, HIPAA.
• Manage ACA reporting and sign-off data.
• Participate in annual audits and non-discrimination testing.
• Support Open Enrollment configuration and testing.
• Identify process improvements and build business cases.
• Execute business plans and develop functional strategy.

Skills

Advanced Excel

MS Word

PowerPoint

Analytical skills

Problem solving

Communication skills

Education

Bachelor's degree or equivalent

Tools

Microsoft Office Suite

Job description

DigiKey is one of the fastest growing distributors of electronic components in the world. In addition to offering the broadest selection of in-stock electronic components and providing the best service possible to customers, employees have access to a highly competitive benefits package. To learn more, visit our benefits and perks page.

Position Overview:

The Senior Benefits Analyst and Compliance Partner is responsible for data analytics and plan compliance requirements for the DigiKey Group Benefit Plan and Wellness Programs. This position will be responsible to provide reports, analysis, and any other information as requested by leadership. This position will guide special projects; provide regulatory interpretation; perform compliance reporting; and develop and implement compliance auditing and monitoring strategies. This position partners in the work of the Total Rewards Benefits Team to develop; recommend; and install approved, new, or modified plans and employee benefit policies, and consults on administration of existing plans. This position will serve as the plan manager for retirement plans offered under the group benefits plan, providing analytics to support data driven decisions for benefit and wellness plan engagement.

Responsibilities:

• Develop and maintain standard reports if required for the benefit, wellness and leave of absence programs.

• Participate actively in all new vendor implementations

• Assist the Workday HRIS team with changes to the configuration, documentation and maintenance of automated benefit processes and integrations with vendors.

• Interpret census data and evaluates it for accuracy.

• Serve as resource in annual renewal process and new vendor implementations monitoring for compliance with DigiKey specifications, identifying key differences in bids, and maintaining client databases within internal systems.

• Liaise between benefit vendors/carriers and DigiKey with respect to data analytics and data transfer for plan eligibility, participation, coverage, compliance matters and other benefit matters.

• Add to and maintains client access to external online portals.

• Confer with internal clients, outside consultants, attorneys, third party administrators, benefit record keepers, and carriers to furnish or request necessary data.

• * Responsible for all aspects of health and welfare and retirement plan compliance including reporting, filing of plan documents, audits, forms 5500, and all federal, state, local and other regulatory requirements such as ERISA, COBRA, and HIPAA.

• Responsible for all aspects of Affordable Care Act (ACA) compliance, including management of ACA reporting and review and sign-off of data submitted.

• Participate in annual audits as needed and completes annual non-discrimination testing for group health and 401(k) plans.

• Respond to requests for information required by the organization for its regulatory filings.

• Support Open Enrollment, including benefit administration configuration and testing, plan document review and employee enrollment support

• Evaluate current practices to improve efficiencies, innovate to solve problems, utilize data to build business cases

• Execute business plans and contributes to the development of functional strategy and develops and executes business processes and ensures accuracy and consistency

• Perform other incidental and related duties as required and assigned.

Other duties as assigned including but not limited to possible reallocation of efforts to other organizations per business need and management request.

Required Knowledge, Skills, and Experience:

• Bachelor's degree in Human Resources, Business Administration, Finance, or a related field; or equivalent relevant work experience.

• Strong analytical, problem-solving, and technical skills are critical.

• Advanced skills and experience in using Excel. Proficient in the use of Word, PowerPoint.

• Organized and detail oriented with strong verbal and written communication skills

• Continuous improvement mindset

Preferred Qualifications

• Knowledge of ERISA, IRS and DOL regulations

• Experience leading enterprise-wide initiatives

• Experience with Workday configuration and/or testing

Tools/Systems/Software:

• Microsoft Office Suite

Physical Requirements:

• Generally, spend the workday sitting at a workstation and operating computer devices, such as, but not limited to keyboard, mouse and screen

• Generally, spend the workday performing repetitive motions that involve or affect the hands, head, and other parts of your body

Compensation:

The base pay range for this position is:

$85,000

to

$117,000

Many factors influence the determination of base pay within a range, including the candidate's work experience in related roles; the candidate's knowledge, skills, capabilities, and performance; the relative pay of other DigiKey employees in similar roles; and the budget available for the position.

Must be authorized to work in the U.S. without the need for employment-based immigration sponsorship, now or in the future. The employer does not offer immigration sponsorship for this opportunity.

DigiKey Electronics is an Equal Opportunity Employer. We encourage all qualified candidates, including protected veterans and individuals with disabilities, and to apply and be considered for open positions.

If you are an applicant with a disability and need a reasonable accommodation for any part of the employment process, please contact Human Resources at 1-800-338-4105 or [e-mail].

Know Your Rights: Workplace Discrimination is Illegal