Senior Compensation & Benefits Specialist
Contract Role (at least 1 year) w/potential to full-time conversion
Position Summary
The Senior Compensation & Benefits Specialist serves as a subject matter expert for compensation, benefits, wellness, and total rewards programs. This role is responsible for supporting the administration, compliance, analysis, and continuous improvement of compensation and benefits programs while ensuring alignment with business objectives and market competitiveness.
The primary focus of this position is supporting the management of third-party vendors that administer health, welfare, retirement, wellness, and total rewards programs, including self-insured benefit plans and associated compliance requirements. The Senior Compensation & Benefits Specialist partners closely with Human Resources, Finance, and Plant Leadership to deliver competitive reward strategies that attract, retain, and engage employees.
Key Responsibilities
- Build and maintain relationships with third-party administrators (TPAs), insurance carriers, benefits consultants, brokers, wellness providers, retirement plan administrators, and other vendor partners.
- Support vendor selection activities, contract negotiations, renewals, performance reviews, and service-level agreement management.
- Evaluate vendor effectiveness, service quality, and plan performance while identifying opportunities for cost savings and process improvements.
- Review claims utilization, healthcare trends, stop-loss performance, and benefit costs, providing recommendations to optimize plan effectiveness and financial sustainability.
- Coordinate annual open enrollment activities, employee education sessions, and related communications.
- Develop employee communications that clearly explain benefits programs, total rewards offerings, wellness initiatives, and policy changes.
- Promote employee wellness programs and engagement initiatives that enhance employee well-being and participation.
Compliance & Governance
- Ensure compliance with federal, state, provincial, and local laws and regulations related to compensation, benefits, and total rewards programs.
- Maintain compliance with ERISA, ACA, HIPAA, COBRA, Section 125, and other applicable benefits regulations.
- Support compliance requirements associated with self-insured benefit plans and vendor administration.
- Support internal and external audits related to compensation, benefits, payroll, and HR compliance.
- Monitor legislative changes and recommend policy, process, and program updates as needed.
- Maintain plan documents, employee notices, policies, and regulatory filings.
Business Partnership
- Partner with HR Business Partners, Finance, Plant Management, and business leaders to support reward strategies that align with organizational goals.
- Provide guidance and recommendations regarding benefits, compensation administration, workforce planning, and employee retention.
- Support organizational changes, acquisitions, workforce transitions, and other strategic business initiatives.
- Analyze benefits, compensation, vendor performance, and workforce data to identify trends and opportunities.
- Develop reports, dashboards, and business cases to support informed decision-making.
- Propose and implement continuous improvement initiatives that enhance operational efficiency, employee experience, and cost management.
- Capitalize on organizational knowledge and proactively share best practices and lessons learned across the organization.
- Identify opportunities for automation, process improvements, and vendor optimization.
Education
Required
- Bachelor's Degree in Human Resources, Business Administration, Finance, Healthcare Administration, or a related field.
Nice to Have
- Certified Employee Benefit Specialist (CEBS), Certified Compensation Professional (CCP), SHRM-CP, SHRM-SCP, PHR, or SPHR certification.
Professional Experience
Required
- Minimum 5 years of progressive experience in Compensation, Benefits, Total Rewards, Human Resources, or a related field.
- Minimum 2 years of experience managing and negotiating contracts and relationships with third-party benefits vendors, brokers, carriers, TPAs, and wellness providers
- Knowledgeable in compliance requirements for self-funded/self-insured benefit plans.
- Experience administering self-insured health and welfare benefit programs.
- Experience coordinating annual open enrollment and employee benefits administration processes.
Preferred
- Automotive or manufacturing industry experience.
- Experience supporting both union and non-union employee populations.
- Experience supporting organizational transformations, acquisitions, or large-scale HR initiatives.
- Advanced knowledge of compensation, benefits, and total rewards principles.
- Expertise in self-insured medical and welfare plan administration.
- Proven vendor management and contract negotiation skills.
- Strong understanding of healthcare funding, claims analysis, and cost-containment strategies.
- Strong analytical, financial, and problem-solving capabilities.
- Excellent communication, presentation, and employee education skills.
- Advanced proficiency in Microsoft Excel and HR analytics.
- Experience with HRIS and benefits administration systems; SAP SuccessFactors preferred.
- Ability to manage confidential information with a high degree of professionalism.