Benefit Administration Analyst

Job Description

Benefit Administration Analyst | USI Insurance Services

The Tone:
This is an entry-level role within the Benefit Administration team at USI Insurance Services. USI Insurance Services is a premier insurance brokerage and consulting firm, with its affiliate USI Consulting Group serving as an industry-leading firm for retirement plan consulting and benefits administration for over 50 years. This position provides essential administrative and analytical support to senior team members, contributing to the smooth operation and understanding of defined benefit plans. The role is critical in ensuring accurate processing, data management, and direct client and participant interaction for pension administration, supporting USICG’s mission to deliver comprehensive and innovative retirement solutions.

The TL;DR
• Role: Early Career
• Pay: $45000–$50000 yearly
• Team: Benefit Administration team, supporting senior team members
• Mission: Support the administration and analysis of defined benefit plans, ensuring accurate processing and client service.
• Tech Stack: Microsoft Office, Excel

What You’ll Actually Do
• Pension Administration: Process and manage diverse pension requests, encompassing initial calculations, paperwork for active plans, ongoing data inquiries, and necessary updates.
• Data Integrity: Reconcile participant data changes to ensure accuracy and contribute to essential year-end reporting processes.
• Client and Participant Support: Act as a direct point of contact for clients and participants, providing clear responses to their questions regarding benefit plans.
• Analytical Review: Conduct detailed analysis of calculation breakpoints, including their identification and rigorous testing to maintain data precision.
• Reporting and Project Contribution: Create and run participant data reports, performing file manipulation and analysis, while also participating in significant projects such as plan terminations or new client implementations.

The Must-Haves
• Background: Entry-Level. Candidates should possess basic knowledge of pension plans.
• Experience: Proficiency in Microsoft Office products, including Excel.
• Skills:
• Strong time management and organizational abilities to handle multiple tasks efficiently.
• Demonstrated capability to analyze and comprehend large data sets for accurate insights.
• Excellent communication skills, both written and verbal, for effective client and participant interactions.
• Strong problem-solving and systematic thinking skills, crucial for breaking down complex calculations specific to client plans.
• Capacity to work effectively both independently on assigned tasks and collaboratively as part of a team.
• Bonus: A Bachelor’s degree in mathematics, business, finance, or a related field is preferred.