Requisition Number: 2022-07-04224-0171-001
Job Title: Senior Benefits Analyst
City: New York
Shift: Monday - Friday, 9:30 AM - 5:30 PM
Simpson Thacher & Bartlett LLP is one of the world’s leading international law firms. The Firm was established in 1884 and has more than 1,000 lawyers. Headquartered in New York with offices in Beijing, Brussels, Hong Kong, Houston, London, Los Angeles, Palo Alto, São Paulo, Tokyo and Washington, D.C., the Firm provides coordinated legal advice and transactional capability to clients around the globe. Cross-border finance, banking and bank regulation, mergers and acquisitions, securities issuance and regulation, project and asset based finance, real estate, asset management, joint ventures, taxation, litigation and dispute resolution are important aspects of the Firm’s practice.
The Senior Benefits Analyst is responsible for leveraging benefits knowledge with data analytics to monitor the alignment of the financial objectives of the Firm’s benefit plans with the Firm’s overall business goals and initiatives.
Assists in management of all aspects of day to day administration, compliance and vendor management of Health and Welfare benefits plans (Medical, Vision, Dental, COBRA, HSA, FSA, Life, STD, LTD, AD&D, Commuter Benefits, etc.)
Responsible for billing and approval process from all benefit vendors for monthly A/P processing
Performs record audits and premium reconciliation against carrier, payroll, and HRIS databases to maintain accuracy
Coordinates with Payroll, Accounting, TPAs and carriers to manage the payment and general ledger reconciliation process
Assists in the review of claims experience, utilization trends, high claims analysis and stop-loss reimbursement tracking
Monitors financials in relation to overall benefit budget; provide trend analysis for overall benefit expenses and support the development of an Executive dashboard for management team
Provides analytical support to the benefits team on benchmarking, plan analysis, rate renewals, review of vendors, and benefit integrations
Uses knowledge of benefits plans to provide support to Benefits team on annual plan audits, plan design changes, government filings, legislative changes, and other related compliance activities
Participates in Open Enrollment planning sessions and support implementation of new benefit plans and initiatives
Works with internal Operations and HRIS teams to streamline benefit work streams and implement necessary control functions; analyze gaps in process and provide recommended resolutions
Monitors adherence to performance guarantees and Service Level Agreements across all benefit vendors and ensure processes are optimized
Collaborates with benefits vendors and brokers to manage plans and address issues as needed.
Performs other duties as assigned
4-5 years of experience working in corporate benefits, or benefits consulting required
Proficiency with MS Office including Word, Excel, and PowerPoint required; experience with HRIS systems a plus (i.e. UKG, Workday)
Comprehensive experience with Data Analytics, including advanced Excel skills (Macros, VLOOKUP, Pivot Tables)
Strong technical knowledge of major benefit laws and regulations, including COBRA, HIPAA, ERISA & Heath Care Reform
Must possess strong analytical ability, strategic and critical thinking skills, strong organizational and project management skills
Deadline driven with ability to prioritize multiple projects and adapt to changing priorities
Ability to exercise sound judgment, take initiative, handle highly confidential information appropriately, and have excellent attention to detail
Excellent verbal and written communication skills and the ability to interact with a diverse group of subject matter experts and managers
Aptitude for working effectively in a team setting as well as independently
Client-focused with the ability to provide customer service in a professional manner
Bachelor’s degree required in Business/Finance, HR or related field required
CEBS or other benefit related certification preferred
Simpson Thacher & Bartlett is committed to a collegial work environment in which all individuals are treated with respect and dignity. The Firm prohibits discrimination or harassment based upon race, color, religion, gender, age, national origin, citizenship status, disability, marital or partnership status, sexual orientation, protected veteran’s status or any other legally protected status. “Gender” includes actual or perceived sex, a person’s gender identity, self-image, appearance, behavior or expression, whether or not that gender identity, self-image, appearance, behavior or expression is different from that traditionally associated with the legal sex assigned to that person at birth. This Policy pertains to every aspect of an individual’s relationship with the Firm, including but not limited to recruitment, hiring, compensation, benefits, training and development, promotion, transfer, discipline, termination, and all other privileges, terms and conditions of employment.