Employee Benefits Compliance Specialist - Torrance, United States - MST Insurance Solutions, Inc

MST Insurance Solutions, Inc
MST Insurance Solutions, Inc
Verified Company
Torrance, United States

3 weeks ago

Mark Lane

Posted by:

Mark Lane

beBee recruiter
Description

Job Title:
Compliance Specialist


Classification:
Full-Time, Exempt


Department:
Employee Benefits


Location:
Hybrid/Torrance, CA


Reports to:
Vice President of Employee Benefits


Overview


The Compliance Specialist is responsible for providing guidance and support to both clients and the internal team as it relates to compliance with employee benefits regulations and requirements.

The position analyzes the respective situations and devises strategies to ensure compliance with relevant regulations.

This position requires a strong understanding of employee benefit regulations, excellent analytical skills, and the ability to communicate effectively with clients and internal stakeholders.


Essential Duties & Functions

  • Other duties may be assigned. _
  • Provide expert guidance and advice to clients and the internal team regarding compliance with employee benefit regulations and requirements.
  • Stay informed with the latest regulatory changes and communicate any updates to relevant parties.
  • Analyze each client's unique situation, considering their specific needs, objectives, and constraints.
  • Advise internal team and clients on employee benefit regulations and compliant human resource (HR) practice pertaining to employee benefits, including topics, such as leave of absence, nondiscrimination, Section 125, ERISA, ACA, CAA, and HIPAA.
  • Offer expert counsel and support regarding HR compliance in accordance with diverse state regulations.
  • Thoroughly investigate and implement relevant laws and regulations that pertain to the compliance services, ensuring the offerings and guidance are errorfree.
  • Develop comprehensive compliance services offerings and establish client compliance audit protocols. Lead benefit compliance audits for clients, ensuring adherence to regulatory requirements.
  • Draft, revise, and update Section 125 documents, benefit plan documents, benefit compliance notices, as well as Business Associate Agreements/Consulting Service Agreements/broker compensation disclosures.
  • Oversee the Form 5500 filing process for clients, including collecting and analyzing pertinent data, coordinating with vendors to submit filing information, and ensuring the accuracy of completed forms. Maintain diligent tracking of client compliance.
  • Develop clear and informative compliance communications and guidance materials tailored for clients, providing them with comprehensive and userfriendly resources to navigate regulatory requirements.
  • Manage demonstrations, coordinating renewals, and overseeing the administration of thirdparty HR knowledge solutions and benefit compliance products.
  • Establish and implement internal procedures aimed at optimizing compliance with document and reporting requirements, enhancing efficiency, and ensuring timely and accurate fulfillment of obligations.
  • On an annual basis, verify client compliance with 1095C reporting, offering necessary guidance when required.
  • Collaborate closely with external legal counsel to deliver comprehensive compliance guidance to clients in instances involving complexity, highrisk scenarios, or necessitating legal advice.
  • Regularly monitor and track clients' Form 5500 preparation timeline monthly, ensuring timely and compliant filing.
  • Assess new clients' compliance with benefit regulations, providing guidance on what areas need to be addressed and providing certain services to address those items if they fall under the services that the agency can provide to the clients.
  • Analyze client compliance with ACA affordability and provide guidance to address noncompliance. Provide guidance on Section 125 nondiscrimination test by assessing quantitative/qualitative data.
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Non-Essential Duties

  • Performs special projects and other miscellaneous duties as assigned by senior management.
  • Follows up to complete any assigned work.
  • Maintains high ethical standards in the workplace
  • Reports all irregular issues and problems to sales management for solution.
  • Maintains good communication with office staff members and outside contacts.
  • Complies with all company policies and procedures.
  • Responsible for maintaining a clean and safe working area by participating in all aspects of the Company's Safety Program.

Qualifications
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.

  • High school diploma or general education degree (GED) required but prefer Bachelor Degree in Human Resources, Business Administration, or a similar, or equivalent level of prior relevant experience
  • 3+ years of prior experience in a human resource compliance, or related position
  • CA Life & Health Agent License
  • Proficient with MS Office Suite
  • Indepth knowledge of employee benefit regulations, such as ERISA, ACA, HIPAA, and COBRA
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