Defined Benefit Data Analyst
Full Time Employment
The Defined Benefit Data Analyst is a multi-functioning role accountable for providing administrative record keeping services for active, terminated and retired participants in a fast paced, challenging environment.
As a Defined Benefit Data Analyst, you will analyze and update record-keeping systems with financial and non-financial data for an assigned book of business; ensuring data is accurate and aligns properly based on system functionality and plan document provisions. You will also be responsible for processing payrolls, as well as producing and validating annual renewal benefits along with corresponding participant statements and responding to ad-hoc requests.
This position requires strong analytical and mathematical skills, high attention to detail, and the proven ability to work in a high volume production environment while demonstrating critical thinking, and success in a solutions oriented and customer focused work environment.
- Provides a variety of standard and non-standard services which includes the processing of payroll data files, annual renewals, participant statements and conducting plan audits
- Researches complex data or information in order to draw accurate conclusions and present viable options or solutions in a timely manner; and applies knowledge of plan provisions and industry regulations to day-to-day operations
- Communicates key information in response to inquiries received from plan participants, retirees, and plan sponsor
- Ensures client satisfaction through the successful completion of complex qualified and non-qualified pension calculations for traditional and cash balance plans, including QDRO and FICA calculations; and understands tax requirements and implications associated with each
- Researches and resolves client issues working in collaboration with operations, plan actuaries, plan administrator and other internal business partners to execute prompt resolution
- Identifies opportunities to exceed customer service expectations by improving workflows, trouble-shooting, and recommending improvements to increase productivity and efficiency
- Performs quality checks for payroll data files, annual renewals and auditor requests produced by team
- Serves as a backup for handling incoming data files and resulting errors items
- Acts as a resource to support training and coaching team on new plan provisions and/or regulatory changes, providing input to system changes or enhancements, and handling one-off data changes or updates
- Additional tasks and special projects as required
Succeeding as a Defined Benefit Data Analyst will require the following core qualifications and skills
- Bachelor’s degree in Human Resources, Business Administration or a relevant field; or equivalent work experience required
- 3+ years of industry experience in retirement, group benefits administration, insurance, or Human Resources consulting preferred
- 5+ years of client service experience preferred
- In-depth knowledge of Defined Benefit products and services required, exposure to Defined Contribution and non-qualified knowledge is a significant asset
- Strong knowledge of Excel and relation database queries is required; including the proven ability to work with large files requiring formatting, formulas, links, etc. and able to solve problem with data through spreadsheet applications
- Computer proficiency with Microsoft business application software required
- Strong math aptitude, and high attention to detail required
- Ability to take on supporting role with projects or special assignments; project coordination or management experience is an asset
- Excellent communications skills required; including the proven ability to effectively communicate with internal and external parties
- Strong interpersonal skills and ability to partner with other areas; including creative problem solving skills, and analytical and negotiation skills
- Strong organizational skills, including the ability to prioritize work under tight deadlines
- Ability to multi-task in a fast-paced environment and handle requests in a confidential and professional manner
- Must be self-motivated, adaptable and flexible
Morneau Shepell is an Equal Opportunity Employer. It is our policy to hire without regard to race, color, creed, religion, national origin, citizenship status, sex, marital status, age, disability, sexual orientation or veteran status.