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Compensation and Benefits Analyst

Company: Job Juncture
Location: Schaumburg
Posted on: September 23, 2022

Job Description:

Check out this unique opportunity to join a $5 billion worldwide manufacturing powerhouse. 
 
They are currently seeking a Benefits Analyst to join the team in Schaumburg IL (Northwest Suburbs of Chicago).
 
This is currently a remote role that will transition in the future to a hybrid, but current transition date not yet known.  The hybrid model would be 4 days remote and 1 day onsite. 
 
We are looking for candidates local to Chicago that could go into the office on occasion. Covid vaccine required
 
The benefits program is outstanding and includes



  • Medical, Dental, and Vision coverage benefits (benefits become effective thirty (30) days from date of hire/rehire)
  • 401K Plan with 4% company match and eligible date of hire. 
  • Generous PTO /vacation
  • Tuition assistance up to $5,250/year
  • Free Fitness Center privileges at onsite club
  • STD, LTD, AD&D insurance along with Flex Spending Account


     
    POSITION SUMMARY
    The incumbent will be responsible for supporting the global compensation and benefits’ functions.  This position will primarily be responsible for conducting job evaluations, preparing and maintaining job descriptions, participating in salary surveys, assisting with the administration of retirement and health and welfare employee benefit programs, communicating with employees and resolving benefit-related issues, and collaborating with other departments and external vendors
     
    Communicates with employees and resolves benefit-related issues and collaborates with other departments and external vendors. The role reports to the Director, Compensation and Benefits.
     
    Regarding aspects of “compensation analysis” and “benefits support” responsibilities, it is imperative that the candidate has performed compensation analysis work, such as job evaluations as a regular and frequent part of their job.  
    They are willing to train someone with no to little benefits experience. The position reports to a Director, Compensation and Benefits and have dotted line to a Benefits Manager.
     
    RESPONSIBILITIES


    • Conducts job evaluations to determine the salary grade, range, and FLSA status
    • Works with management to prepare and update job descriptions
    • Participates in salary surveys and analyze the results to ensure market competitiveness
    • Assists in the administration of the incentive programs
    • Assists employees with day-to-day benefits inquiries in a timely manner.
    • Reviews Benefit system daily for transactions pending/or in progress and updates Payroll records accordingly.
    • Coordinates daily benefit processing, including new hire enrollments and terminations with Payroll records. Ensures that new and terminated employees are appropriately noted, corresponding payroll deductions are correct and that calculations are accurate.
    • Assists with the Annual Open Enrollment process and updates benefit premiums in Payroll records.
    • Reviews Finalized Pay report in Benefits system bi-weekly and if applicable, updates benefit premiums in Payroll records.
    • Updates 401(k) contributions & 401(k) loans weekly in Payroll system.
    • Reviews and Balances monthly & quarterly benefit invoices to ensure accuracy.  Submits requests for payment in a timely manner.
    • Works with Hitachi Benefits Pool, vendors and plan carriers on status updates, issues reconciliation, and information sharing.
    • Provides benefit administrative and professional support to Benefits Manager.
    • Ensures company compliance with federal and state laws governing both compensation and benefits practices.
    • Other projects and duties as assigned.


       
      REQUIREMENTS


      • Bachelor’s degree or equivalent benefits administration experience required.  Human Resources or Business Administration degree preferred.
      • 2-5 years benefits administration experience required
      • Strong MS Excel and Word skills
      • Must be able to work independently
      • Excellent organizational skills
      • Be a team player
      • Strong communication and interpersonal skills
      • Solid understanding of different benefit plans (retirement, health & dental insurance, etc.)
      • Strong analytical capabilities
      • Attention to detail


         
         
         
         

Keywords: Job Juncture, Schaumburg , Compensation and Benefits Analyst, Professions , Schaumburg, Illinois

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