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Sr. Benefits Analyst

JOB TITLE: Sr. Benefits Analyst

POSITION CODE: 14009542

LOCATION: USA - Houston, TX (City West)

 

ABOUT SABIC

SABIC is a global leader in diversified chemicals headquartered in Riyadh, Saudi Arabia. It manufactures on a global scale in the Americas, Europe, Middle East and Asia Pacific, making distinctly different kinds of products: chemicals, commodity and high performance plastics, agri-nutrients and metals. The company recorded a net profit of US$ 5.7 billion in 2018. Sales revenues for 2018 totaled US$ 45 billion while total assets stood at US$ 85 billion. Production in 2018 was 75.3 million metric tons. It has more than 33,000 employees worldwide and operates in around 50 countries.

 

JOB SUMMARY

We currently have an immediate opening for a Sr. Benefits Analyst who provides Financial Planning/Analysis and Controllership for U.S. Benefits and HR.  The incumbent oversees and ensures an efficient end-to-end Purchase Order, Purchase Requisition and Treasury disbursement process for employee benefits vendors.  Prepares and ensure Accounts Reconciliation requirements are complete in order to comply with SABIC GART (Global Account Reconciliation Tool) requirements. Overall provides critical financial and analytical support for the, design, procurement, administration, service and delivery of group health, workplace absence, retirement, work/life and wellness programs to employees/participants in benefits plans sponsored by the Company.

Additional responsibilities include:

  • Ensures the development and implementation of efficient processes for payments to vendors, collecting, analyzing, verifying and reporting employee benefit plans financial information
  • Collaborates with Vendors, SABIC Finance/Treasury to ensure proper funding of benefit programs and timely payment of benefit suppliers
  • Provides supplier/vendor oversight related to purchase orders and funding and serves as business contact for resolution of escalated purchase order issues
  • Support, maintain, on-going system/process improvements and resolutions of issues on financial controls by documenting accounting requirements and procedures related to employee benefit plans
  • Reconciles employee benefits GL accounts (payments, employee contributions to group benefits, 401k, Flexible Savings Accounts, Health Savings Accounts as appropriate and ensures SABIC GART requirements are submitted on a timely basis
  • Analyzes and develops periodic reports on U.S. benefit costs and trends to identify key cost drivers and to develop recommendations
  • Manages the strategic financial planning and budgeting process for Human Resources and Employee Benefits
  • Develops, implements and oversees an annual audit process of U.S. benefit plans, suppliers and administrators by collaborating with external and internal audit teams
  • Ensures regulatory compliance of benefit plans – facilitates with external resources and supports government filing requirements (IRS Form 5500, Pension Benefits Guaranty Corporation Filings, DOL Form 5310, etc)
  • Supports efforts to develop strategic initiatives, evaluate benefit design alternatives, and determine employer/employee
  • cost sharing levels by working closely with cross-functional team members and external resources (consultants, brokers, etc)
  • Provides support and coordinates with Procurement for the supplier sourcing/renewal process

 

REQUIREMENTS

  • BA/BS degree in Accounting or Finance

 

EXPERIENCE

  • 5 years of Benefits expereince
  • 3 to 5 years accounting, reconciliation, and/or employee benefits budgeting
  • Project management skills and experience
  • Demonstrates high analytical and problem solving skills - plays critical role in providing financial analysis for sourcing negotiations and decisions for employee benefit programs 

Preferred but not required:

  • Knowledge of federal and state laws related to the administration of employee benefits
  • Experience with group employee benefit claims and reporting
  • Experience in insurance field, familiarity with supplier management, negotiations and sourcing processes
  • Benefits and insurance industry expertise preferred
  • Basic general knowledge of Accounting Standards - IAS 19 Employee Benefits

 

ELIGIBILITY REQUIREMENTS

  • You must submit your application for employment online to be considered. Please submit your resume using the “Apply Now/Apply” option on this page.
  • You must be 18 years or older
  • You must be willing to take a drug test as part of the selection process
  • You must be willing to submit to a background investigation as part of the selection process
  • You must have unrestricted authorization to work in the United States
  • Relocation if available

 

SABIC is committed to creating a diverse work environment and is proud to be an equal opportunity employer and as such will not discriminate in its employment practices, including recruiting and hiring practices, based on a person’s race, color, religion, national origin, citizenship, sex (including gender identity, sexual orientation and pregnancy), age, disability, genetic information, veteran status, or other characteristics protected by law.

Disclaimers (USA):

SABIC is not accepting unsolicited assistance from search firms/employment agencies for this employment opportunity. Please, no phone calls or emails to any employee of SABIC about this opening. All resumes submitted by search firms/employment agencies to any employee at SABIC via-email, the Internet or in any form and/or method without a valid written search firm agreement in place for this position will be deemed the sole property of SABIC; no fee will be paid in the event a candidate is hired by SABIC as a result of the unsolicited referral or through other means.