Benefits Specialist

Job Description:

Benefits Specialist

Hackettstown, NJ

The purpose of this role is to provide finance-related analytical and operational support to the Benefits Administration team within Global Total Rewards, Mars Benefits Americas. Primary responsibilities include: all activities necessary related to CPG and Canada for calculation of benefit premiums; facilitation of payment to all benefit vendors; creation of purchase orders; tracking of invoice payments; monitor benefits fixed cost budget; period close processing of accruals, participant contributions & reconciliation; monitoring of payments in and out of the VEBA Trust; maintaining a benefit plan cost summary and forecast to be communicated to business units for fiscal year planning for CPG & Canada; and other benefit-related projects. This position interacts with members of Treasury and Finance, Payroll, Accounts Payable, MyP&O, and external vendors (i.e., Northern Trust, WTW, Fidelity, and others). This role responds to inquiries from vendors regarding payment of invoices and funding issues. Auditing, analysis, and reconciliations are critical to control money spent.

What are we looking for?

• Associate or Undergraduate degree or equivalent in business management, finance, accounting or human resources
• Related education and coursework in benefits such as CEBS certification is a plus
• Treasury or S&F experience a plus
• Ability to work with sensitive materials
• Strong computer skills, including advanced/expert knowledge of Access, Word, PowerPoint, and
• Ability to handle multiple priorities, scheduling conflicts, and deadlines
• Availability during critical payment deadlines and period close/year end activities
• Quickly adopts emerging technologies and digital tools, staying ahead of tech trends to enhance individual and team productivity
• Proactively identifies opportunities to automate manual tasks and simplify procedures, driving a culture of efficiency and smart work design

What would be your key responsibilities?

• Manage cash flow for VEBA/Trust current account and process benefit payments for transactions including:
  • Manage processing of current incoming and outgoing benefit payments and receipts from all Trusts (VEBA and USRT), including setup of vendor profiles with Northern Trust.
  • Manage tracking of all cash transactions to and from Trusts, determine appropriate category of transactions, and prepare reporting based on type of expense and associate population.
  • Reconcile retiree medical premiums collected by Northern Trust (NT) and WTW and deposited to the VEBA/Trust using NT and WTW monthly reports.
  • Track daily claim payments from the Trust and Mars Treasury group each day and reconcile with Health Vendor’s monthly claim reports. Identify and resolve any discrepancies.
  • Prepare payment instructions for Treasury to process medical, dental, life and LTD payments to vendors for all active, LTD and COBRA benefits.
  • Consolidate Payroll information to report associate medical, dental, vision, contributory life, commuter benefit, and health savings account (HSA) contributions to Treasury and Finance.
  • Track quarterly Pharmacy Rebate and split Active and Retiree portions attributable to each. Fund Retiree rebate portion to VEBA Trust.
  • Track Mars active claims and provide Finance group with claim totals each period.
  • Maintain a benefit plan cost summary and forecast to be provided to the Finance team and communicated to business units for fiscal year planning for CPG & Canada
• Manage Fixed Costs process for Benefits department including:
  • Create all purchase orders after confirming budget line item for each.
  • Review outside vendor services invoices against scope, assign invoices against appropriate budget and purchase order, and process invoices for payment through SAP for all Benefits fixed costs.
  • Organize and control fixed costs budgets and payments tracking for Benefits department. Create monthly reports for managers showing analysis of cost drivers and savings by vendor/activity, and accurately determine accruals for year end.
  • Prepare Trust billable monthly report for Benefits group and US Benefit Plans Committee use from the fixed costs payments so that certain qualified expenses can be billed to the Trust.
• Review for reasonability and process vendor payments as appropriate for LTD and Life Insurance based on reporting from WTW, the enrolment & eligibility vendor.
• Support FSA activities with outside vendor, including administrative fee payments, reviewing claim reports and compare to funding. Analyze and reconcile money flows each period to ensure all participant accounts are accurate. This requires reconciliation of funding by Treasury, reported healthcare claims, and Payroll reports of contributions collected from associates. Monitor any discrepancies and make any adjustments with WTW as needed to assure deductions are appropriate to meet FSA goals.
• Track MetLife Notice of Claims and review against monthly MetLife death claims reports for accuracy. Monitor and research any discrepancies.
• Participate in various Benefits projects, including conversion and harmonization activity and acquisition work.

What can you expect from Mars?

• Work with over 140,000 diverse and talented Associates, all guided by The Five Principles.
• Join a purpose driven company, where we are striving to build the world we want tomorrow, today.
• Best-in-class learning and development support from day one, including access to our in-house Mars University.
• An industry competitive salary and benefits package, including company bonus.

This role is based in Hackettstown, NJ, with a strong emphasis on regular on-site collaboration to drive connection and team success. Our flexible hybrid model empowers associates to split their week between collaborative in-office days and remote work to best meet both business and personal needs.

Mars does not sponsor visas for this role.

This position is not eligible for relocation benefits.

The base pay range for this position at commencement of employment is between the range listed below, however, base pay offered may vary depending on multiple individualized factors, including but not limited to job-related knowledge, skills, and experience. The total compensation package for this position will include variable pay, medical and dental benefits, participation in 401k plan, and paid time off benefits. Details of participation in these benefit plans will be provided if an applicant receives an offer of employment.