Grainger
North America's leading B2B supplier of maintenance, repair and operating supplies and related services.
Chicago, IL

Benefits Finance & Compliance Consultant

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Grainger is a broad line, business-to-business distributor of maintenance, repair and operating (MRO) supplies and other related products and services. More than 3.2 million businesses and institutions worldwide rely on Grainger for products such as safety gloves, ladders, motors and janitorial supplies, along with services like inventory management and technical support. These customers represent a broad collection of industries including commercial, government, healthcare and manufacturing. They place orders online, on mobile devices, through sales representatives, over the phone and at local branches. Approximately 5,000 suppliers provide Grainger with more than 1.6 million products stocked in Grainger’s distribution centers and branches worldwide.

 

 

Primary Function
This role is responsible for the overall compliance of Grainger’s benefit and retirement plans.  In addition, this role has oversight of billing process and internal financial tracking and reporting.

 

Principal Duties & Responsibilities

  • Responsible for the design and administration for all Benefit invoice processing. Calculates, verifies and processes payment requests from various providers on a daily, weekly, bi-weekly and monthly basis to ensure timely payment of benefits and appropriate internal reconciliation.
  • Manage compliance for all health and welfare benefit plans and retirement plans including filing of government forms, non-discrimination testing, SOC reports, and ensures annual plan notices are distributed.
  • Partner with accounting on financial reporting for the Company’s retirement plans, welfare benefit plans (health, dental, life, etc.) maintained through three group benefit trusts.
  • Prepares and reconciles bank account analysis, investment account analysis for the VEBAs on a monthly, quarterly and annual basis.
  • Administers the cash operations and funding of benefit payments, insurance premiums, and other administrative related expenses for the Company’s welfare benefit plans (health, dental, life, etc.).  Administers day to day investment purchases and redemptions
  • Participate in both external and internal audit engagements as it relates to the self-funded health plans and defined contribution retirement plans

 

 

Preferred Education & Experience

  • BA/BS or equivalent preferred
  • 5 to 7 years of experience in HR/Benefits
  • Must demonstrate strong analytical and problem solving skills as well as strong verbal and written communication skills and interpersonal skills.
  • Must have excellent attention to detail, organizational and time management skills
  • Robust Excel user, and ability to work in Word, PowerPoint and other systems.  SAP experience a plus.

 

 

Work Environment

  • The role requires minimum travel

 

Impact

  • The position administers welfare benefit plan/trust assets exceeding $30M.  Funding welfare benefit plan fees, premiums, and claim payments through the plan/trusts amount to annual disbursements exceeding $40M. 
  • This role works with internal and external partners and is responsible for making decisions related to trust and compliance administration.

 

 

Working Relationships

  • This position will have contact with multiple people at various levels within the organization and with outside vendors.  Internal partners include individuals from HR, Benefits, Finance, Treasury, Accounting, Legal and Tax.  External partners include numerous vendors.  In addition, this position may work with other internal and external partners on projects as needed.
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What are Grainger Perks + Benefits

Grainger Benefits Overview

With benefits starting day one, Grainger is committed to your safety, health and wellbeing. Our benefits provide a wide range of programs and resources for nearly every aspect of the full life you and your family lead – supporting your life today and in the future.

Some benefits are provided automatically, while others are offered at reduced group rates. Whatever you need, you’ve got this because you’ve got Grainger. Visit GraingerTotalRewards.com for a complete picture.

Culture
Volunteer in local community
Partners with nonprofits
Open door policy
Employee resource groups
Employee-led culture committees
Quarterly engagement surveys
Hybrid work model
In-person all-hands meetings
Employee awards
Flexible work schedule
Remote work program
Diversity
Dedicated diversity and inclusion staff
Highly diverse management team
Mandated unconscious bias training
Diversity manifesto
Diversity employee resource groups
Team members connect in, African American, Asian-Pacific Islander, Disability, Equality Alliance, Generational, Latino, Veterans and Women's Business Resource Groups.
Hiring practices that promote diversity
Diversity recruitment program
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Disability insurance
Dental insurance
Vision insurance
Health insurance
Life insurance
Pet insurance
Wellness programs
Mental health benefits
Transgender health care benefits
Abortion travel benefits
Financial & Retirement
401(K)
Team members can contribute up to 75% of pay up IRS limits on a pre- or post-tax basis. Your contributions are always 100% vested.
401(K) matching
Grainger automatically contributes 6% of your eligible pay into your retirement savings plan account each pay period. This contribution is always 100% vested.
Employee stock purchase plan
You are eligible to participate in Grainger's ESPP once you have completed at least 90 days of service and are regular full-time or regular part-time, scheduled to work at least 20 hours a week.
Performance bonus
Charitable contribution matching
For every $1 a team member donates to charity, Grainger amplifies that impact with a $3 matched donation.
Child Care & Parental Leave Benefits
Generous parental leave
Family medical leave
Adoption Assistance
Grainger supports team members and their families who are in the process of adopting by reimbursing up to $6,000 per adoption for eligible expenses.
Return-to-work program post parental leave
Fertility benefits
Vacation & Time Off Benefits
Generous PTO
Paid volunteer time
Paid holidays
Flexible time off
Bereavement leave benefits
Office Perks
Commuter benefits
Company-sponsored outings
Free snacks and drinks
Beverages and coffee on demand in our downtown locations.
Onsite office parking
We offer employees discounted parking rates at our Chicago office locations.
Relocation assistance
Mother's room
Onsite gym
Professional Development Benefits
Job training & conferences
Tuition reimbursement
Our tuition reimbursement plan covers the first $5,250 per year towards a degree program. Amounts that exceed $5,250 are reimbursed at 50% and there is no program maximum.
Lunch and learns
Promote from within
Mentorship program
Continuing education available during work hours
Online course subscriptions available
Customized development tracks
Paid industry certifications
Personal development training

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