Benefits Financial Analyst

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Benefits Financial Analyst

University Overview

The University of Pennsylvania, the largest private employer in Philadelphia, is a world-renowned leader in education, research, and innovation. This historic, Ivy League school consistently ranks among the top 10 universities in the annual U.S. News & World Report survey. Penn has 12 highly-regarded schools that provide opportunities for undergraduate, graduate and continuing education, all influenced by Penn's distinctive interdisciplinary approach to scholarship and learning. As an employer Penn has been ranked nationally on many occasions with the most recent award from Forbes who named Penn one of America's Best Employers By State in 2021.

Penn offers a unique working environment within the city of Philadelphia. The University is situated on a beautiful urban campus, with easy access to a range of educational, cultural, and recreational activities. With its historical significance and landmarks, lively cultural offerings, and wide variety of atmospheres, Philadelphia is the perfect place to call home for work and play.

The University offers a competitive benefits package that includes excellent healthcare and tuition benefits for employees and their families, generous retirement benefits, a wide variety of professional development opportunities, supportive work and family benefits, a wealth of health and wellness programs and resources, and much more.

COVID-19 vaccination is a requirement for all positions at the University of Pennsylvania. New hires are expected to be fully vaccinated before beginning work at the University. For more information about Penn's vaccine requirements and the use of Penn Open Pass, visit the Penn COVID-19 Response website for the latest information.

Posted Job Title
Benefits Financial Analyst

Job Profile Title
Financial Analyst

Job Description Summary
The position assists the Director, HR Financial Administration in managing the over $600 million benefits budget for the University. This includes budgeting, paying and booking transactions into various systems, analyzing current items to previous period(s), handling certain accruals, and serving both internal and external clients and colleagues regularly. Performing compliance-related activities, reconciliations and working on special projects are all handled by the Benefits Finance Analyst. This position will interact with Business Administrators, University employees with tax questions, other department personnel needing assistance and other staff regularly.

Job Description

As part of the Division of Human Resources, the Benefits Financial Analyst assists the Director, HR Financial Administration in managing the over $600 million benefits budget for the University. This includes budgeting, paying and booking transactions into various systems, analyzing current items to previous period(s), handling certain accruals, and serving both internal and external clients and colleagues regularly. Performing compliance-related activities, reconciliations and working on special projects are all handled by the Benefits Finance Analyst. This position will interact with Business Administrators, University employees with tax questions, other department personnel needing assistance and other staff regularly.

Responsibilities

Receipt, review, recording, and payment of benefit provider, and service and professional invoices as assigned.

Assist in analysis of workflows and transactions, including timely responses to requests from Comptroller's Office and others for information on variances between EB projections and actual incurred.

Reconcile statistics and data appearing in plan management reports and EB Budget. Assist as appropriate in development of the EB Pool Annual budget and the quarterly reconciliation of benefits costs. Provide support as necessary to Exec Director in financial analysis of special projects.

Provide support to the month/ quarter and year-end close to the Comptroller Office and the external auditors.

Assist with the development and implementation of internal controls that assure the effective and efficient stewardship of University assets.

Create ad hoc reports as needed for benefit plan internal and external audits.

Determine appropriate monthly/ annual accruals for various benefit plans, update appropriate supporting schedules and book into the financial system in a timely manner.

Receipt, review, recording, and payment of benefit provider, and service and professional invoices as assigned

Assist in analysis of workflows and transactions, including timely responses to requests from Comptroller's Office and others

Reconcile statistics and data appearing in plan management reports and EB Budget. Provide support as necessary to Exec Director in financial analysis of special projects

Provide support to the month/ quarter and year-end close to the Comptroller Office and the external auditors

Assist with the development and implementation of internal controls that assure the effective and efficient stewardship of University assets

Create ad hoc reports as needed for benefit plan internal and external audits

Determine appropriate monthly/ annual accruals for various benefit plans, update appropriate supporting schedules and book into the financial system in a timely manner

Perform additional duties as assigned

Budgeted Pay Range

$72-77,000 annually commensurate with experience and education.

Qualifications

A Bachelor's Degree and 2 years to 3 years of experience or equivalent combination of education and experience is required.

An Accounting or Finance degree is preferred. Knowledge of accounting principles is essential, an ability to understand and learn benefits is crucial in this role.

This position requires an individual who is technically proficient and is detail oriented, while also being able to see the big picture as the position will be called upon to help determine the need for adjustments and accruals based on actual experience each period.

Job Location - City, State
Philadelphia, Pennsylvania

Department / School
Human Resources

Pay Range
$43,919.00 - $66,183.00

Affirmative Action Statement
Penn adheres to a policy that prohibits discrimination on the basis of race, color, sex, sexual orientation, gender identity, religion, creed, national or ethnic origin, citizenship status, age, disability, veteran status, or any other legally protected class.

Special Requirements
Background check required after a conditional job offer is made. Consideration of the background check will be tailored to the requirements of the job.

University Benefits
  • Health, Life, and Flexible Spending Accounts: Penn offers comprehensive medical, prescription, behavioral health, dental, vision, and life insurance benefits to protect you and your family's health and welfare. You can also use flexible spending accounts to pay for eligible health care and dependent care expenses with pre-tax dollars.
  • Tuition: Take advantage of Penn's exceptional tuition benefits. You, your spouse, and your dependent children can get tuition assistance here at Penn. Your dependent children are also eligible for tuition assistance at other institutions.
  • Retirement: Penn offers generous retirement plans to help you save for your future. Penn's Basic, Matching, and Supplemental retirement plans allow you to save for retirement on a pre-tax or Roth basis. Choose from a wide variety of investment options through TIAA and Vanguard.
  • Time Away from Work: Penn provides you with a substantial amount of time away from work during the course of the year. This allows you to relax, take vacations, attend to personal affairs, recover from illness or injury, spend time with family-whatever your personal needs may be.
  • Long-Term Care Insurance: In partnership with Genworth Financial, Penn offers faculty and staff (and your eligible family members) long-term care insurance to help you cover some of the costs of long-term care services received at home, in the community or in a nursing facility. If you apply when you're newly hired, you won't have to provide proof of good health or be subject to underwriting requirements. Eligible family members must always provide proof of good health and are subject to underwriting.
  • Wellness and Work-life Resources: Penn is committed to supporting our faculty and staff as they balance the competing demands of work and personal life. That's why we offer a wide variety of programs and resources to help you care for your health, your family, and your work-life balance.
  • Professional and Personal Development: Penn provides an array of resources to help you advance yourself personally and professionally.
  • University Resources: As a member of the Penn community, you have access to a wide range of University resources as well as cultural and recreational activities. Take advantage of the University's libraries and athletic facilities, or visit our arboretum and art galleries. There's always something going on at Penn, whether it's a new exhibit at the Penn Museum, the latest music or theater presentation at the Annenberg Center, or the Penn Relays at Franklin Field to name just a few examples. As a member of the Penn community, you're right in the middle of the excitement-and you and your family can enjoy many of these activities for free.
  • Discounts and Special Services: From arts and entertainment to transportation and mortgages, you'll find great deals for University faculty and staff. Not only do Penn arts and cultural centers and museums offer free and discounted admission and memberships to faculty and staff. You can also enjoy substantial savings on other goods and services such as new cars from Ford and General Motors, cellular phone service plans, movie tickets, and admission to theme parks.
  • Flexible Work Hours: Flexible work options offer creative approaches for completing work while promoting balance between work and personal commitments. These approaches involve use of non-traditional work hours, locations, and/or job structures.
  • Penn Home Ownership Services: Penn offers a forgivable loan for eligible employees interested in buying a home or currently residing in West Philadelphia, which can be used for closing costs or home improvements.
  • Adoption Assistance: Penn will reimburse eligible employees on qualified expenses in connection with the legal adoption of an eligible child, such as travel or court fees, for up to two adoptions in your household.



To learn more, please visit: https://www.hr.upenn.edu/PennHR/benefits-pay

To apply, visit https://wd1.myworkdaysite.com/en-US/recruiting/upenn/careers-at-penn/job/Franklin-Building/Benefits-Financial-Analyst_JR00051432-1

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