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Senior Benefits Analyst - Retirement

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Honeywell

Jan 1

Applications are closed

  • Job
    Full-time
    Mid & Senior Level
  • Business, Operations & Strategy
  • Charlotte

Requirements

  • 3+ years proficient knowledge in Canada Pension Plans, Savings and Retirement benefit administration functions, including vendor interaction points, employee changes and qualifying events, appeals, and the annual enrollment experience. Pension company match calculations, Pension Plan Audit, escalations, and Canada government requirements.
  • 3+ years of project management experience, including excellent planning, time management, decision making and organizational skills. Exposure to difficult or complex projects while managing multiple priorities.
  • Excellent analytical, statistical, and reporting skills.
  • Strong mathematical, analytical, statistical, and reporting skills to review, interpret and evaluate financial data and legal documents.
  • Strong time management skills and the ability to meet deadlines with high accuracy.
  • High attention to detail and a process improvement mindset.
  • Strong written and documentation skills, ability to communicate complex issues in a concise manner.
  • Ability to work independently and problem solve in ambiguous situations where answers and direction are not clear.
  • Prior actuarial analysis experience is a plus.
  • M&A experience preferred.
  • Experience working in a shared services delivery role preferred.
  • Experience working with union benefit plans preferred.
  • Strong Excel skills (formulas, pivot tables, vlook-ups); PeopleSoft, SalesForce, and Case Management a plus.

Responsibilities

  • Provide end to end execution of Canadian pension and savings processes, ensuring up to date and accurate documentation, leveraging historical databases to collect data, driving continuous improvement focusing on key initiatives of an excellent user experience ensuring right and fast support.
  • Manage suppliers to ensure quality administration of plans and the customer experience, payments, audit completion, execution of reporting and filings, with vendors. Maintain a RAIL ensuring items are prioritized and escalated appropriately; complete and assist other team members with root cause analysis and issue resolution. Participate in quarterly service reviews.
  • Manage tier 3 level complex cases resolving unique and difficult issues around data, benefit plans, policies, systems, compliance, and presenting effective solutions back to leadership and ensuring timely and accurate responses back to the participants.
  • Stay up to date with regulatory changes in the industry and help us transition into the future as seamlessly as possible.
  • Apply legislation and regulations, when preparing, analyzing, and interpreting plan documents, summaries of plan provisions, and related plan materials.
  • Assists with audits and preparations of annual filings. Work with internal and external partners on compliance and other related matters. Participate in merger and acquisition activities to ensure compliance.
  • Partner with the US Retirement team to help provide support for; processing of invoices and wires, payroll reconciliations and negative earnings, service date adjustments, content updates, cases, projects, etc.
  • Play a lead project management role in the planning and execution of the Annual Pension Audit, Company Match, Union Plans, consisting of many key strategic pieces and post-year-end activities; partnering with Corporate C&B, vendors, Corporate Communications and the HRS operations teams on strategy design, developing an effective project plan and managing to the deliverables, improvements, testing with the vendor and key stakeholders, managing defects and escalations, ensuring stakeholder sign-off, documenting and implementing requirements, ensuring communications are clear and timely, monitoring and reporting on metrics, ensuring customer calls and experience are managed appropriately with the vendor, and ensure overall delivery of the annual cycle is a success.
  • Identify operational errors and areas of weakness in plan operations, support audit reports and relevant supporting documentation to present findings and improvements to leadership. Assist with developing corrective action strategies.
  • Manage payroll reconciliations, escalations, leveraging multiple data sources, conducting data analysis, communicating findings, and making recommendations.
  • Proactively identify problems and trends, along with solutions, which might be leading to increased volume of escalations or issues.
  • Partner with key stakeholders and the HR M&A team on the execution of mergers, acquisitions and/or divestitures – understand business timelines, provide SME guidance on the lead time benefit plan set-up, vendor set-up, testing, integrations, etc., review company benefit plans and documentation in comparison to Honeywell’s plans and provide recommendations on processes, compliance, data mapping, communications, lead the projects preparation and execution and ensure post-close integration deliverables are executed.
  • Manage the claims and appeals process ensuring timely and accurate responses back to participants.
  • Ensure compliance of Canada plans and programs per the plan documents, collective bargaining agreements, FSRA, and applicable provisions of the Canada Revenue Agency.
  • Support the US Retirement Team as needed on projects, processes, cases, etc.

FAQs

What are the main responsibilities of the Senior Benefits Analyst - Retirement?

The main responsibilities include managing the Savings, Retirement, and Pension program administration, providing end-to-end execution of Canadian pension and savings processes, resolving complex cases, managing supplier relationships, ensuring compliance with regulatory changes, assisting with audits, and leading project management for various initiatives.

What qualifications are required for this role?

Candidates must have a minimum of 3 years of proficient knowledge in Canada Pension Plans and savings benefit administration, 3 years of project management experience, excellent analytical and reporting skills, and strong written and documentation abilities. A Bachelor's Degree is also required.

What technical skills are preferred for this position?

Preferred technical skills include strong Excel skills (formulas, pivot tables, vlook-ups), familiarity with PeopleSoft, Salesforce, and case management systems. Prior actuarial analysis experience and experience with union benefit plans are also advantageous.

Is there a requirement for prior experience in mergers and acquisitions (M&A)?

Yes, M&A experience is preferred for this role, as the analyst will need to partner with key stakeholders on the execution of mergers, acquisitions, and divestitures.

What is the job ID for this position?

The job ID for this position is HRD248796.

Where is the Senior Benefits Analyst - Retirement position located?

The position is located at 855 S Mint St, Charlotte, North Carolina, 28202, United States.

How does this position contribute to Honeywell's overall operations?

This position plays a significant role in optimizing HR processes, enhancing employee experience, and driving HR's digital transformation journey, thereby contributing to the success and effectiveness of Honeywell's overall operations.

Are there any specific experience or skills that would help in resolving complex cases?

Strong analytical skills, problem-solving abilities, high attention to detail, and prior experience in pension plan audits and appeals are beneficial in resolving complex cases effectively.

Is experience working in a shared services delivery role a requirement for this job?

Experience working in a shared services delivery role is preferred but not absolutely required for the position.

What is the expected focus regarding compliance for this role?

The expected focus on compliance includes ensuring adherence to plan documents, collective bargaining agreements, FSRA, and provisions of the Canada Revenue Agency, among other regulatory requirements.

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Honeywell

The future is what we make it!

Manufacturing & Electronics
Industry
10,001+
Employees
1906
Founded Year

Mission & Purpose

Honeywell is a Fortune 100 company that invents and manufactures technologies to address tough challenges linked to global macrotrends such as safety, security, and energy. With approximately 110,000 employees worldwide, including more than 19,000 engineers and scientists, we have an unrelenting focus on quality, delivery, value, and technology in everything we make and do.

Benefits

  • Medical Insurance

  • ​​​​​​​Parental Leave

  • Life Assurance

  • Retirement Plan

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