Merchants Bancorp

Compensation

Full Description

Description: The Benefits Administrator is crucial in shaping and implementing our benefits strategy by developing, executing, and overseeing our benefits programs. This role is responsible for managing day-to-day operations of benefits programs, ensuring compliance, and providing insights to executive management regarding strategy and design. Additionally, this position is dedicated to delivering outstanding service to employees, benefits vendors, and advisors. To succeed in this role, candidates must exhibit a blend of strategic thinking and hands-on capability in managing all aspects of benefits. The ideal candidate will ensure our benefits are competitive, drive positive business results, and both reflect and enhance our organizational culture. A successful Benefits Administrator will confidently and independently handle the following: Benefits Administration and Employee Support (60%): • Act as the primary point of contact for employees regarding benefits-related inquiries, including coverage questions, claims issues, enrollments, terminations, and qualifying life event changes. • Collaborate with outside benefits advisors for escalated employee issues. • Develop and maintain administrative procedures for benefits processes. • Organize and deliver educational presentations and written communications for employees, including during open enrollment. • Encourage wellness initiatives and programs that promote overall employee well-being. • Review and reconcile invoices associated with benefits plans. Vendors and Compliance (25%): • Serve as the primary liaison for outside benefits advisors and vendors. • Maintain accurate and complete employee benefits records and manage compliance audits and controls. • Oversee the execution of the 401k plan and ensure compliance activities are completed thoroughly. • Manage and submit relevant 5500 filings, audits, and ACA reporting. • Stay informed of and ensure compliance with applicable federal and state laws and regulations, including ACA, ERISA, HIPAA, FMLA, COBRA, ADA, ADAAA, and FLSA. Strategic Planning and Stakeholder Engagement (15%): • Analyze benefits plan data and provide insightful reporting to HR leadership and the benefits committee. • Conduct research and provide recommendations for benefits program enhancements. • Assess benchmarks and industry trends alongside outside advisors regarding benefits offerings. • Collaborate with HR leadership and the benefits committee to align the benefits strategy with organizational goals. • Prepare executive summaries and conduct presentations to update leadership on benefits initiatives. Requirements: What we are looking for: • A minimum of 5 years of experience in benefits planning, administration, and analysis. • Intermediate to advanced understanding of medical, dental, vision, disability, life insurance, FSA, HSA, TSA, 401k, and similar employee benefits; benefits certification is preferred. • Proven ability to develop strong relationships with vendors, advisors, and internal stakeholders to ensure effective collaboration. • Solid knowledge of federal and state laws regarding employee benefits. • Exceptional written and verbal communication skills, capable of clearly articulating benefits plans to diverse audiences. • Experience with HRIS applications; familiarity with Paylocity is a plus. • Strong analytical, problem-solving, and project management skills. • A collaborative and inclusive approach to planning and project management. • Aptitude for developing efficient processes that yield consistent and accurate results. • Proficient in Excel, Word, Outlook, PowerPoint, and Teams. • Ability to work independently and as part of a team. • A proven track record of excellent teamwork, a positive attitude, accountability, integrity, commitment, and empathy. About Merchants: Merchants Bancorp, recognized among the top performing U.S. public banks, operates multiple segments, including Multi-family Mortgage Banking, Mortgage Warehousing, and traditional community banking. With $18.8 billion in assets and $11.9 billion in deposits as of December 31, 2024, Merchants conducts business through its subsidiaries, offering extensive financing solutions. Recently honored with the 2025 USA Today Top Workplaces recognition, Merchants ranks nationally within the 500-999 employee category. This accolade follows our history of workplace recognition, including being named a Best Place to Work in Indiana for seven consecutive years from 2016 to 2022.