Benefits Business Analyst
Company: System One
Location: Minneapolis
Posted on: May 16, 2022
Job Description:
Job DescriptionBenefits Business AnalystMinneapolis, MNSystem
One is currently seeking a Benefits Business Analyst on a 12-month
contract position located in Minneapolis, MN.This position will be
with our client, a utility holding company serving more than 3.3
million electric customers and 1.8 million natural gas
customers.Benefits Business Analyst Responsibilities:
- Participates in all operational activities of the company's
qualified and non-qualified retirement benefit programs including,
but not limited to, defined benefit and contribution plans; and
special executive plans (e.g., supplemental retirement and deferred
compensation programs)
- Provides extensive systems expertise in the development and
maintenance of retirement recordkeeping systems
- Makes administrative recommendations including technological
enhancements and process changes for more efficient and effective
program delivery
- Responsible for ongoing administration of retirement policies
and programs
- Ensures compliance in daily administration with all applicable
legal and regulatory requirements as directed by leadership
- Provides education, interpretation and support to regulated and
non-regulated business units, employees and external vendors and
company retirement plans
- Develops, implements and consolidates pension and 401(k)
recordkeeping systems, including making recommendations for all
qualified and non-qualified retirement benefit programs
- Works with vendors to define appropriate data specifications
and processes, ensuring data integrity
- Provides system, program and technological support to
employees, business units and vendors, including the development of
new processes and system support and testing
- Ensure compliance with legal and regulatory requirements in all
aspects of daily operations
- Coordinates compliance-related projects such as internal
audits, pension valuations, 5500 preparation and non-discrimination
tests
- Assists in the SOX related controls such as the Reconciliation
of Trust Statements
- Problem solves service and earnings-related issues
- Reviews and approves pension payment set-ups including pension
calculations
- Reviews application and distribution processes with employees,
managers, along with providing education on a variety of
decision-making requirements
- Responsible for coordinating all aspects of Qualified Domestic
Relations Order (QDRO) administration
- Assists in the development and delivery of retirement
communications, including but not limited to orientation programs
and application processes
- Analyzes non-IT business problems and articulates requirements
to support process improvement opportunities
- Creates framework for assessing financial payback
- Identifies alternative solutions and makes recommendation
- Prepares documentation of current and desired state
- Develops requirements and builds a common understanding between
process owners and solution developersBenefits Business Analyst
Requirements:
- High School Diploma or GED
- Role demands ability to assess process performance, strong
written and verbal communication skills, and experience in
preparing ROI statements for proposed investmentsDuration:
12-monthsLocation: Minneapolis, MNPay Rate: $36.36/hr.
Keywords: System One, Minneapolis , Benefits Business Analyst, Professions , Minneapolis, Minnesota
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