Sr. Benefits Analyst

Location:

Job Brief:

• The Senior Benefits Analyst is responsible the support and management of various employee benefit programs, including health insurance, pharmacy insurance, vision and dental insurance, the employee assistance plan and health and wellness program. Responsible for researching and responding to employee and participant questions and appeals, as well as assisting in drafting and managing communications to employees about Key's programs. Reviews information and analyzes external and internal data to draw insights and develop actionable recommendations for improving benefit programs.

Essential Functions:

• Support the established strategic direction for employee benefit plans, assisting in plan designs and pricing, and making recommendations to senior management.
• Assist in conducting or overseeing vendor Request for Proposals (RFPs) to ensure competitive contract terms for each benefit plan.
• Analyze benefits data to develop programs and benefit design features to support Key's overall total rewards strategy.
• Manage vendor relationships, working with account teams to integrate best practices and products into plan offerings to create market-competitive programs.
• Assist with daily administration requirements for the company's benefit programs.
• Analyze program effectiveness through aggregating reporting from external vendors and internal sources and assist in preparing reports and presentations.
• Ensure compliance with relevant regulations and laws and complete Risk Control self-Assessment (RCSA) testing as necessary. Monitor legislative and regulatory developments that relate to benefit plans. Handle internal and external audit requests.
• Support technology-related projects for benefit programs, such as open enrollment and other plan initiatives. Work closely with internal Shared Services partners, legal department, corporate accounting, and payroll teams as needed.
• Research and respond to inquiries and claims regarding Key's health benefit plans and programs.
• Monitor benefit plans for regulatory and legislative compliance elements. Ensure benefit plans are in compliance with applicable laws and regulations and internal requirements.
• Generate solutions and approaches beyond standard practice. Apply a continuous improvement mindset to the work.
• Participate in ongoing and special benefit-related projects.
• Perform other job-related duties as assigned.

Competencies:

• Demonstrates autonomy and is effectively self-directed.
• Independently identifies and proactively address emerging issues.
• Ability to challenge existing processes and champion new solutions.
• Clear and concise communicator.
• Demonstrates strong attention to detail in presentations and ensuring compliance with applicable policies and regulations.
• Experience with reviewing and analyzing benefits data to draw insights and develop action plans and recommendations for improving health benefit programs.
• Problem Solving: Demonstrates the ability to examine a specific problem and understand the perspective of stakeholders; uses fact-finding techniques to identify and document specific problems
• Collaboration: Demonstrates experience in participating in productive collaborative processes that help solve business problems and meet business goals
• Adaptability: Demonstrates a willingness to listen to other opinions and adjusts to new or changing assignments, processes, and people while avoiding snap reaction

Qualifications:

• Background: 3+ years experience in employee benefits, with a preferred focus on health & welfare benefit plans
• Education: Bachelor's degree required
• Knowledge: Experienced in PowerPoint, proficient in Excel (e.g., pivot tables, Vlookup)

Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing HR_Compliance@keybank.com.