Overview
This role involves leading financial analysis and oversight of global health and welfare benefits programs. The Senior Benefits Finance Analyst will collaborate with external actuaries, benefit vendors, consultants, and internal finance partners to develop cost analyses and forecasts, monitor financial performance, and analyze key cost drivers. The position requires translating complex healthcare, actuarial, vendor, and financial data into actionable insights to support cost planning, program decisions, and long-term benefits planning for U.S. and international benefits.
Responsibilities
Financial Management and Reporting
- Monitor benefits program financial performance against forecasts and financial plans.
- Analyze monthly and quarterly results to identify primary drivers of variances.
- Prepare clear financial analyses, summaries, and presentations for Benefits, Finance, and other stakeholders.
Finance Partnership
- Act as the primary liaison between the Benefits organization and Corporate Finance teams, including FP&A, Accounting, Controllers, Treasury, and Procurement.
- Support monthly and quarterly close activities, including accruals, forecasting updates, and cost and spend submissions.
- Coordinate financial reviews to ensure benefit program costs are accurately represented in enterprise financial plans.
- Partner with Finance teams to enhance benefits-related reporting processes and internal controls.
Vendor and Actuarial Financial Management
- Manage financial relationships with external actuarial firms, consultants, third-party administrators, and benefit vendors to support forecasting, reserve calculations, funding requirements, and financial reporting.
- Review actuarial assumptions, vendor financial performance, guarantees, invoices, funding requirements, stop-loss recoveries, and contractual financial obligations for accuracy and accountability.
- Monitor vendor financial performance and identify discrepancies, risks, or areas requiring further review.
- Provide financial analysis on vendor contracts and manage risk mitigation arrangements such as stop-loss across the entire benefit program.
Financial Governance and Regulatory Compliance
- Support benefits-related audits, regulatory filings, and financial reporting requirements, including Form 5500 financial information.
- Assist with internal controls and financial governance related to benefit funding and vendor payments.
Strategic Planning, Data Analytics, and Decision Support
- Support program managers and long-term benefits strategy through financial modeling.
- Assess financial impact of emerging trends and identify opportunities to improve cost management.
- Develop financial models and analyses evaluating healthcare and pharmacy cost trends, vendor performance, funding strategies, and benefit plan changes.
- Produce executive presentations and recommendations to support strategic investment decisions.
- Review healthcare, pharmacy, utilization, vendor, and other relevant data to identify cost trends and emerging financial risks.
Requirements
- 10+ years of relevant experience in benefits finance, healthcare finance, actuarial, or benefits consulting supporting employee benefit programs.
- Experience with financial analysis, forecasting, budgeting, variance analysis, and long-range planning.
- Understanding of healthcare and pharmacy cost drivers, benefit funding arrangements, and vendor financial management.
- Experience working with external actuaries, consultants, third-party administrators, and benefit vendors.
- Ability to review actuarial assumptions, funding requirements, vendor guarantees, invoices, stop-loss arrangements, and other financial obligations.
- Strong financial modeling, analytical, and problem-solving skills.
- Ability to interpret complex financial and healthcare data and communicate findings clearly to key stakeholders.
- Strong Excel skills and experience with financial planning, reporting, or enterprise finance systems.
- Ability to manage multiple priorities and collaborate effectively with multiple internal and external teams.
Preferred Qualifications
- Experience supporting benefits finance for a large or complex employer or experience within a benefits, healthcare, or actuarial consulting organization analyzing healthcare, pharmacy, vendor, or benefit plan data.
- Experience in healthcare or actuarial consulting or managing benefits finance for a large, complex employer.
- Strong knowledge of U.S. employee benefits regulations and reporting requirements, including ERISA and Form 5500.
- Relevant advanced degree, professional qualification, actuarial credentials, or equivalent experience is beneficial but not required.
Compensation & Benefits
- U.S. hiring range: $114,600 - $234,600 per year.
- May be eligible for bonus, equity, and compensation deferral.
- Comprehensive benefits package including:
- Medical, dental, and vision insurance, including expert medical opinion
- Short-term and long-term disability
- Life insurance and AD&D
- Supplemental life insurance (Employee/Spouse/Child)
- Health care and dependent care Flexible Spending Accounts
- Pre-tax commuter and parking benefits
- 401(k) Savings and Investment Plan with company match
- Paid time off: Flexible Vacation for salaried employees; accrued vacation for others with accrual rates based on hours worked and tenure
- 11 paid holidays
- Paid sick leave: 72 hours upon hire, refreshing annually, with carryover up to 112 hours
- Paid parental leave
- Adoption assistance
- Employee Stock Purchase Plan
- Financial planning and group legal services
- Voluntary benefits including auto, homeowner, and pet insurance
Location
Additional Information
- Certain U.S.-based or U.S. customer/client-facing roles may require compliance with immunization/occupational health mandates and/or drug testing requirements.
- The role typically accepts applications for at least three calendar days from the posting date or as long as the job remains posted.
- Equal Employment Opportunity employer committed to inclusive hiring practices.
- Accessibility accommodations are available upon request during the employment process.