Financial Analyst - Benefits

Job Summary:

This role provides subject matter expertise for the administration, design, customer service and delivery of employee benefit plans related to benefits administration, workplace absence and work/life balance programs as well provide financial controllership services for the U.S. Benefits team. Financial controllership activities include critical financial and analytical support for the administration, design, procurement and service & delivery of various benefit programs to employees and other participants in benefits plans sponsored by the Company. Additionally, the role is responsible for managing the purchase order process and management reports needs for the U.S. benefits team.

Responsibilities:

• Assists in the development of benefit program strategy by providing recommendations to HR leadership and executing on the program implementation.
• Develop vendor relationships to ensure that the vendor is executing to serve SABIC employees effectively
• Communicate with participants to ensure that they understand and value the benefits programs
• Supports benefits team with company’s annual enrollment activities
• Provide critical financial and analytical support for the administration, design, procurement and service delivery.
• Analyze and report C&B costs and trends to identify key cost drivers and recommend actions.
• Help managing the purchase order process and management reports needs for the team.
• Provide support for the supplier sourcing/renewal process and supplier/vendor oversight related to purchase orders.
• Supports efforts to develop strategic initiatives, evaluate benefit design alternatives and determine employee contribution levels working closely with cross functional team members and external experts.
• Team up with Finance & Treasury organizations to ensure proper funding of benefit programs and timely payment of benefit suppliers.

Requirements:

• Bachelor’s degree in business, finance, accounting, health, social sciences, or related field. Master’s degree in similar fields a plus.
• 5 years benefits and/or insurance industry with experience in accounting and financial reporting
• Demonstrated analytical and problem-solving skills.
• Familiarity with supplier management, negotiations and sourcing processes.
• Intermediate to Advanced Excel skills including V-lookup and Pivot table
• Demonstrated verbal and written communication skills
• Experience with claims and reporting
• Advanced computer skills in Microsoft Office and SAP to run reports & analysis
• Ability to handle confidential information with discretion
• Ability to handle multiple priorities at once
• Ability to maintain a strong attention to detail
• Demonstrate strong organizational skills
• Must have experience with sourcing, selection, and contract negotiations with benefits providers