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Benefits & Savings Analyst Senior

Location Princeton, United States Job type Full-Time Work mode Hybrid Job level Professional Job ID 11158 Company Munich Re America Services Employment type Regular Area of expertise Human Resources
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Benefits & Savings Analyst Senior 

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities.

As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

The Opportunity

Future focused and always one step ahead!

The Benefits & Savings Analyst Senior manages the daily administration and compliance of the Company’s retirement savings plans, including the 401(k) and non-qualified plans. This position will also provide support for the administration of the health and welfare, and wellness plans, working closely with the HR team, external vendors, and internal stakeholders.

Responsibilities

In this position you will:      

  • Responsible for the daily operations of the Company’s 401(k) and non-qualified retirement plans, including, while ensuring compliance with ERISA, IRS and DOL regulations.
  • Analyze and resolve complex benefits-related issues, including employee complaints.
  • Act as a Subject Matter Expert for the HR Service Center and other internal stakeholders.
  • Maintain relationships with external vendors, including recordkeepers and consultants.
  • Maintain benefits-related documentation, including plan documents, summaries, and participant communications.
  • Prepare communications to various audiences, including employees and senior leaders.
  • Stay up-to-date on changes in applicable laws and regulations, and recommend retirement and savings plan design or policy changes to ensure compliance.
  • Primary resource for internal and external audits, and support the preparation of the audited financial statements.
  • Coordinate and oversee the completion of IRS Form 5500 filing, ACA 1095, Annual Funding Notice, PBGC filings, etc. 10. Collaborate with the broader HR team and internal stakeholders, including IT, on projects and change requests.

Qualifications

  • 10+ years progressive employee benefits experience, with a focus on retirement savings plans (401(k) and non-qualified plans)
  • Strong knowledge of relevant laws and regulations, including ERISA, IRS, and DOL regulations
  • Skilled in Microsoft Office (Excel, Word and Powerpoint)
  • Knowledge of Sharepoint is an asset
  • Experience with HRIS, payroll and benefits administration systems and software (eg. SuccessFactors, SAP HR and Benefitfocus) preferred

Scope of Accountabilities:

Position calls for the following competencies:
Ability to work in a fast-paced environment and prioritize multiple tasks and projects
Excellent analytical, problem-solving, and communication skills
Act as a resource, mentor and guide to team members
Ability to understand and leverage technology to improve processes
Lead/manage projects
Demonstrated solid written and verbal communication skills
Demonstrated ability to work with IT and HR Operations

The Company is open to considering candidates in Princeton, NJ. The salary range posted below applies to the Company’s Princeton location.

The base salary range anticipated for this position is$86,000- $127,000 plus opportunity for company bonus based upon a percentage of eligible pay.  In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO). 

The salary estimate displayed represents the typical salary range for candidates hired in this position in Princeton, NJ. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits:

  • Two options for your health insurance plan (PPO or High Deductible).
  • Prescription drug coverage (included in your health insurance plan).
  • Vision and dental insurance plans.
  • Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.
  • Short and Long Term Disability coverage.
  • Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).
  • Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).

In addition to the above insurance offerings, our employees also enjoy:

  • A robust 401k plan with up to a 5% employer match
  • A retirement savings plan that is 100% company funded.
  • Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
  • Eligibility to receive a yearly bonus as a Munich Re employee.
  • A variety of health and wellness programs provided at no cost.
  • Paid time off for eligible family care needs.
  • Tuition assistance and educational achievement bonuses.
  • A corporate matching gifts program that further enhances your charitable donation.
  • Paid time off to volunteer in your community.

 At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.   

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

#LI-JR1

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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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