Benefits Finance & Compliance Consultant at Grainger
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.
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.
- The role requires minimum travel
- 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.
- 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.