Benefits Specialist
Somerset, NJ, US, 08873
Terumo Medical Corporation (TMC) develops, manufactures, and markets a complete, solutions-based portfolio of high-quality medical devices used in a broad range of applications for numerous areas of the healthcare industry. TMC places a premium on providing customers with world-class products, training and education programs that drive clear economic value, better clinical outcomes and improved quality of life for patients. TMC is part of Tokyo-based Terumo Corporation; one of the world’s leading medical device manufacturers with $6+ billion in sales, 30,000+ employees worldwide and operations in more than 160 nations. Terumo Medical Corporation is comprised of two strategic business divisions: Terumo Interventional Systems and Terumo Medical Products.
Job Summary
The Benefits Specialist will provide support to the Benefits functions for Health and Welfare Plans and Retirement Plans with responsibility for Corporate compliance of the Terumo Americas Holding, Inc. benefit and retirement programs, and provides assistance to all TAH subsidiaries including Terumo Medical Canada Inc. and Terumo Puerto Rico.
Job Details/Responsibilities
- Provides support in all areas of the health and welfare plans, including but not limited to Medical, Prescription, Dental, Vision, Life, Disability, Employee Assistance Program, and a variety of voluntary programs.
- Provides support in all areas of the retirement programs, including but not limited to the 401(k) plan and back up support for the defined benefit plan.
- Preparation and reconciliation of all benefit plan claims and coordinate the charge backs to the subsidiaries.
- Maintain an accounting of all benefit costs by company on an annualized basis.
- Maintains accurate data within various plan recordkeeping systems for the 401(k) plan in the US and the retirement plans in Canada and Puerto Rico. This position will also back up the Sr. Benefits Administrator regarding the administration of the pension plan.
- Support TMCI benefits managing the day-to-day administration including conducting new hire orientation and enrollments.
- Support Terumo Puerto Rico with administration of their health and welfare plans.
- Provides support and assistance to all TAH subsidiaries for benefit related topics.
- Assists with annual external audits.
- Assists in all aspects of the Open Enrollment process and on-line benefit portal administration.
- Assists with Wellness initiatives and programs including but not limited to the monthly Benefits Blast and keeping the Catapult current with the latest information.
- Provide back up support for both the Sr. Benefit Administrator and the Sr. Benefits Specialist.
- Performs other job duties as required.
Knowledge, Skills and Abilities (KSA)
- Ability to work independently with limited supervision
- Ability to deal effectively with external vendors and carriers
- Interpersonal skills to deal with Human Resources and Finance staff within TAH, group companies, and secure cooperation
- Financial acumen to identify and correct deficiencies in processes in order to maintain compliance in accordance with applicable laws
- Position involves working with numerous subsidiary Human Resource and Accounting/Finance Departments thus experience establishing relationships and working in a matrix organization is critical
Qualifications/ Background Experiences
- BA or BS
- Minimum 3 years benefits experience
- Excellent understanding of Microsoft Office Suite, especially Excel
- Familiarity with payroll systems a plus but not required
It is Terumo’s policy to provide equal employment opportunity to all its employees and applicants for employment regardless of their race, creed, color, national origin, age, ancestry, nationality, marital or domestic partnership or civil union status, sex, pregnancy, gender identity or expression, disability status, liability for military service, protected veteran status, sexual orientation, atypical cellular or blood trait, genetic information (including the refusal to submit to genetic testing), or any other category protected by law. As a Company, we value diversity of background and opinion, and prohibit discrimination or harassment on the basis of any legally protected class in the areas of hiring, recruitment, promotion, transfer, demotion, training, compensation, pay, fringe benefits, layoff, termination or any other terms and conditions of employment.
Final compensation packages may be higher or lower than what is listed, and will ultimately depend on factors including relevant experience, internal equity, skillset, knowledge, geography, education, business needs and market demand. We provide competitive and comprehensive benefit options which include: annual bonus, paid vacation, paid holidays, health, dental and vision benefits, 401(k), with matching contributions, tax advantage savings accounts, legal plan, voluntary life and AD&D insurance, voluntary long-term disability, short term disability, critical illness and accident insurance, parental leave, personal leave, tuition reimbursement, travel assistance, and an employee assistance program. Salary range: $59,000 - $81,000
Nearest Major Market: New Jersey