Senior Benefits Analyst II - MFS

Summary The Sr Benefits Analyst II applies expertise in Board, System, and federal benefits as well as knowledge of benefits law and IRS rules to perform complex analyses and lead projects on a wide range of benefits issues. Develop communications material, establish new and revised procedures, ensure benefit plan compliance, analyze plan costs, and research or resolve unusual or complex issues. Make presentations to senior management. Duties & Responsibilities Research benefit‑related issues and develop new plans, policies and procedures to ensure that programs incorporate sound cost‑containment principles, achieve regulatory compliance, and meet organizational needs and goals. Coordinate documentation and data for benefits audits and compliance reviews in line with regulatory and internal requirements. Coordinate with Legal Division, the Office of Employee Benefits (OEB), external consultants, and outsourced plan administrators to identify and resolve compliance‑related issues. Develop and revise oral and written benefit communications, including updates to plan booklets and plan documents. Develop systems and communication tools to facilitate the delivery of benefits services. Research and respond to inquiries from vendors, stakeholders, plan participants and Federal Reserve System partners. Collaborate with benefits specialists to resolve complex benefits issues. Participate in plan negotiations by identifying relevant issues, preparing plan cost projections, and supporting analysis of vendor proposals. Partner with Procurement to negotiate best plans, options and rates. Review new or changed procedures received from OEB or Office of Personnel Management and coordinate implementation with benefits specialists. Represent the section and/or Board on System work groups. Prepare and reconcile monthly vendor invoices, eligibility files, and reports to ensure accurate billing and recordkeeping. Monitor regulatory developments and ensure compliance with applicable laws and internal processes. Partner with vendors to process employee benefit enrollments and changes in vendor systems with accuracy and timeliness. Serve as contact for plan vendors and third‑party administrators. Complete benefits surveys and review information obtained from the results. Position Requirements Requires excellent analytical ability and effective oral and written communication skills, typically obtained through a bachelor's degree or equivalent experience. Five years of experience are required as specified for FR‑26. Requires expertise in benefits design, administration and compliance, along with strong analytical skills and thorough knowledge of plan designs. Proficiency with Microsoft Office Suite, HR systems and benefits databases is required; experience with Workday or ServiceNow is preferred. A broad understanding of the interrelationships between benefits and other human resources disciplines is desirable. Must have demonstrated strong customer‑relations skills and the ability to interact with all levels of the Board’s staff effectively. Additional Qualifications (FR‑27) FR‑27, a Sr. Benefits Analyst III, requires meeting the minimum qualifications of FR‑26 in addition to six years of experience. Requires excellent interpersonal, oral and written communication skills, and the ability to anticipate and meet client needs while maintaining high‑quality end products. Compensation The expected salary range for this role is $128,600 to $190,900. Final offers are determined by experience and education, as well as internal and external factors. Other Details This position requires U.S. citizenship and a fully on‑site presence at Washington, DC offices. Primary location: DC‑Washington. Employee status: Regular. Overtime status: Exempt. Job type: Standard. Work shift: 1st Shift. Relocation provided: Yes. Compensation grade low: FR PAY GRADE 26. Compensation grade high: FR PAY GRADE 27. Minimum salary: $128,600.00. Posting date: Jun 18 2026. #J-18808-Ljbffr Federal Reserve Board