Analyst Benefit Calculation
Analyst Benefit Calculation
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1 Vacancy
Job Description
TELUS Health is empowering every person to live their healthiest life. Guided by our vision we are leveraging the power of our leading edge technology and focusing on the uniqueness of each individual to create the future of health. As a global-leading health and well-being provider encompassing physical mental and financial health TELUS Health is improving health outcomes for consumers patients healthcare professionals employers and employees.
The Benefit Calculation Analyst is tasked with delivering Defined Benefit (DB) outsourcing services for the comprehensive service portfolio. This dynamic role involves engaging with plan participants retirees and the staff of plan sponsors in a fast-paced and demanding environment.The Analyst is responsible for managing or providing guidance on complex transactions and oversees technical training and quality assessment at the departmental level. This role requires extensive knowledge and expertise in all aspects of Defined Benefit Calculation and Complex Data functions along with a solid understanding of related job responsibilities. Additional duties may include contributing to various projects and tasks as needed.
The Benefit Calculation Analyst is part of a team that primarily supports the Empower DB block of business through a subcontracting arrangement between Empower and Telus.
- Responsibilities
- Delivers a range of standard and non-standard services including calculating retirement benefits and explaining the various components of these calculations benefit options and plan provisions.
- Investigates complex data or information to reach accurate conclusions and present feasible options or solutions promptly.
- Utilizes knowledge of plan provisions and industry regulations in everyday operations.
- Communicates essential information in response to inquiries from plan participants retirees and plan sponsors through phone email or written correspondence.
- Ensures client satisfaction by effectively completing complex qualified and non-qualified pension calculations for traditional and cash balance plans including Qualified Domestic Relations Order (QDRO) and Minimum Required Distribution (MRD) calculations while understanding the associated tax requirements and implications.
- Researches and resolves client issues in collaboration with operations plan actuaries plan administrators and other internal stakeholders to promptly execute resolutions.
- Identifies opportunities to enhance customer service by improving workflows troubleshooting problems and recommending enhancements to boost productivity and efficiency.
- Conducts quality checks on manual calculations performed by the team.
- Monitors and reports non-qualified payments in coordination with internal and external parties.
- As needed serves as a resource for training and coaching the team on new plan provisions or regulatory changes provides input for system updates or enhancements and manages one-off data modifications or updates.
- Core Qualifications and Skills for Success in the Benefit Calculation Analyst Role
- Education: Bachelors degree or equivalent related experience.
- Industry Experience: A minimum of 2 years in the retirement industry.
- Knowledge of Products: In-depth knowledge of Defined Benefit products and services is preferred. Additional experience with non-qualified plans is a significant asset.
- Customer Service Experience: At least 3 years of related customer service experience.
- Communication Skills: Excellent communication skills with a proven ability to effectively convey information to both internal and external stakeholders.
- Mathematical Proficiency: Strong mathematical skills necessary for performing calculations accurately.
- Actuarial Exams: Completion of or progress toward actuarial exams is a significant advantage.
- Organizational Skills: Strong organizational skills to manage tasks and projects effectively.
- Technical Skills: Proficiency in Excel and other Microsoft Office applications.
- Attention to Detail: Meticulous attention to detail to ensure accuracy in calculations and documentation.
- Leadership Capabilities: Ability to assume leadership roles on projects or special assignments; project management experience is a plus.
- Time Management: Ability to prioritize tasks and work efficiently under tight deadlines with a results-oriented mindset.
- Problem-Solving Skills: Creative problem-solving abilities alongside strong analytical and negotiation skills.
- Multi-tasking Ability: Capacity to handle multiple requests in a fast-paced environment while maintaining confidentiality and professionalism.
- Self-Motivation: Must be self-motivated and adaptable to changing priorities.
- Interpersonal Skills: Strong interpersonal abilities to collaborate with various teams and stakeholders.
A bit about us
Were a people-focused customer-first purpose-driven team who works together every day to innovate and do good. We improve lives through our technology solutions and foster a culture of innovation that empowers team members to solve complex problems and create remarkable human outcomes in a digital world.
TELUS Health is an Equal Opportunity Employer that aims to foster an inclusive culture that embraces diversity. It is our policy to hire without regard to race color creed religion national origin citizenship status sex marital status age disability sexual orientation or veteran offer accommodation for applicants with disabilities as required during the recruitment process.
By applying to this role you understand and agree that your information will be shared with the TELUS Group of Companies Talent Acquisition team(s) and/or any leader(s) who will be part of the selection process.
Required Experience:
IC
Employment Type
Full-Time
