Compliance and Retiree Benefits Specialist

Compliance and Retiree Benefits Specialist

The Compliance and Retiree Benefits Specialist is a member of the Global Health and Wellbeing Team, focused on work in the US, and reports to the Benefits Operations Manager.

This role requires experience in benefits administration, knowledge of data and compliance processes, vendor management, and the ability to develop recommendations for operational improvements. A great fit to the team is a benefits professional who is detail-oriented, can analyze needs and solve complex problems, and comfortable working with the plan participants and their families where appropriate.

Position Responsibilities:

Compliance Management: 

• Complete deliverables to support the annual ERISA audit. Partner with vendors to facilitate and validate data due to auditors. Respond to requests for information to close the audit successfully. 

• Complete the annual 5500 filing in collaboration with Finance, auditors, and the outsourced benefits administration vendor.

• Manage the nondiscrimination testing for dependent care flexible spending accounts. Apply adjustments to accounts and coordinate updates with Payroll and outsourced benefits administration vendor.

• Complete compliance filings, including PCORI, SF HCSO, MA HIRD, and RxDC, as well as any required member notifications.

• Validate data for the medical plan 1095 forms before distribution and submission. 

• Support the implementation of a new tax reporting process for inactive participants. Manage benefits data delivery for tax reporting annually.

• Develop plan document amendments and revise summary plan descriptions. Coordinate deliverables with Legal and vendors.

Retiree Benefits: 

• Manage retiree health benefits, including insured and self-funded medical and prescription plans, retiree health exchange, and retiree health reimbursement accounts.

• Monitor executive supplemental life insurance policies to support claims processing. Complete required data updates for annual statements and tax reporting.

• Support life insurance plans for payout, validation, and updates with insurer or outsourced benefits administration vendor.

• Research escalated member issues and coordinate resolution with vendors. Process corrections and adjustments as applicable to update accounts.

• Respond to requests for information to ensure accurate data and validate service history.

• Facilitate and validate data from/to vendors and external consultants to support plans funding and accounting.

• Initiate wires for timely payments to vendors. Process receivables and post funds to appropriate accounts.

Vendor Management: 

• Actively engage in vendor partnership calls to drive service delivery. Ensure completion of deliverables and implement periodic plan changes.

• Collaborate with vendors and external consultants to assess the impact of regulatory requirements and implement related changes.

• In partnership with consultants, plan the annual stewardship meetings with vendors to review plans performance, utilization trends, and opportunities for cost efficiency.

• Support renewals for designated plans, complete periodic risk assessments, and coordinate contracting processes.

• Coordinate with the outsourced benefits administration vendor and participate in user acceptance testing to ensure programs set-up is complete for annual enrollment.

Strategy and Growth: 

• Assess opportunities and recommend program enhancements to support strategic goals.

• Participate in projects as a member of the Global Health and Wellbeing Team as necessary.

• Support communication campaigns to inform and engage plan participants.

• Stay apprised of industry trends, legal and compliance updates, and apply gained knowledge to designated processes.

Required Qualifications:

• 3 to 5 years of experience in benefits administration.

• Knowledge of benefits compliance and audits. 

• Vendor management and project management experience.

• Proven ability to work with complex processes

• Proficient with Microsoft applications.

Preferred Qualifications:

• Previous experience with benefit plan compliance activities

• Previous experience with retiree insurance plans.

• Knowledge of benefit plans financial processes.

• Experience utilizing data and identifying trends.

• Previous experience with Workday and reporting.

When you join our team:

• We’ll empower you to learn and grow the career you want. 

• We’ll recognize and support you in a flexible environment where well-being and inclusion are more than just words. 

• As part of our global team, we’ll support you in shaping the future you want to see.

#LI-Hybrid

#LI-JH

About Manulife and John Hancock

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. To learn more about us, visit https://www.manulife.com/en/about/our-story.html.

Manulife is an Equal Opportunity Employer

At Manulife/John Hancock, we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.

It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact [email protected].

Referenced Salary Location

Boston, MassachusettsHybrid

Salary range is expected to be between

$71,550.00 USD - $119,250.00 USD

If you are applying for this role outside of the primary location, please contact [email protected] for the salary range for your location. The actual salary will vary depending on local market conditions, geography and relevant job-related factors such as knowledge, skills, qualifications, experience, and education/training. Employees also have the opportunity to participate in incentive programs and earn incentive compensation tied to business and individual performance.

Manulife/John Hancock offers eligible employees a wide array of customizable benefits, including health, dental, mental health, vision, short- and long-term disability, life and AD&D insurance coverage, adoption/surrogacy and wellness benefits, and employee/family assistance plans. We also offer eligible employees various retirement savings plans (including pension/401(k) savings plans and a global share ownership plan with employer matching contributions) and financial education and counseling resources. Our generous paid time off program in the U.S. includes up to 11 paid holidays, 3 personal days, 150 hours of vacation, and 40 hours of sick time (or more where required by law) each year, and we offer the full range of statutory leaves of absence.

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Company: John Hancock Life Insurance Company (U.S.A.)