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Benefits Manager

IDB Bank


Location:
New York, New York
Date:
04/21/2017
Job Type:
Employee
Job Status:
Full Time
Categories:
  • Benefits
IDB Bank
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Job Details

Company Information

Israel Discount Bank of New York, also known by its registered service mark, “IDB Bank”, is a full service commercial bank chartered by the State of New York and a member of the Federal Deposit Insurance Corporation (FDIC). Our liquidity and capital ratios are strong, and we are ranked by Crain’s New York Business as the 24th largest commercial bank in the New York area.  the Bank provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, sexual orientation, national origin, age, disability, genetic status, citizenship status, marital status, military or veteran status, current unemployment or any other legally protected category in accordance with applicable federal, state and local law.

 

Job Summary

The Benefits Manager is primarily responsible for the audit and reconciliation of benefit bills and reports. Responsible for understanding and interpreting, training on all benefit Summary Plan Descriptions (SPDs), including legal limitations and/or allowances. The Administrator must adhere to statutory obligations of deduction processes, legal guidelines of section 125 of the Internal Revenue Code, and federal regulations related to COBRA.

 

Job Description

  • Audit and reconcile benefit billings/reports and convey findings to the HR Director.

  • Prepare monthly benefit premium statements and vendor check requisitions based on individual monthly billing deadlines.

  • Complete and fax STD/LTD Certification of Coverage request forms to the disability carrier.

  • Assist in developing, training new staff members and maintaining work processes to ensure effective administration of benefits to employees. Assist with resolution of employees' benefit issues and articulate an effective resolution.

  • Administratively responsible for the details concerning retiree pre- and post-medical coverage as it pertains to eligibility, enrollment, coverage, plan benefits, changing plans, effective dates and cost procedures. Track monthly direct bill retiree medical premiums and ensure timely deposits of checks.

  • Coordinate annual employee open enrollment and benefits fair, which entails providing information on the benefits being offered for the next calendar year to employees. Arrange vendors to be available at the benefits fair as well as location set-up.

  • Coordinate and formally present benefits information. Ensure that benefit packets are updated and adequately stocked. Maintain supply of other benefit-related material/forms.

  • Administratively responsible for the functions associated with the tracking, payroll data entry and the on-going monitoring of any severance pay and benefits sequencing sheets for layoff employees.

  • Oversee annual open enrollment data entry audit, including follow-up for input accuracy of additions, changes, and cancellations.

  • Partner with audit department to coordinate internal and external benefit audits.

 

Competencies:

Bachelor's degree or equivalent experience is a must.

 

Minimum three years of experience administering of employee benefits program.

Disclaimer

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.

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