Health & Welfare Benefits Financial Analyst

We invite you to review our current business services professionals openings to learn about the opportunities available across the firm.

About Us

Skadden, Arps, Slate, Meagher & Flom LLP (Skadden) has forged a reputation as one of the most prestigious law firms in the world. By relying on innovation, intellect, teamwork and tenacity, our lawyers deliver the highest quality advice and novel solutions to our clients' legal issues. We are recognized as a global powerhouse for complex transactions, litigation/controversy issues, and regulatory matters, as well as for the open, collaborative relationships we build with clients. Our attorneys, who reflect diverse backgrounds and perspectives, collaborate seamlessly across 50-plus practices and 21 offices in the world's major financial centers.

The Opportunity

We are seeking a Health & Welfare Benefits Financial Analyst to join our Firm. Within this position, you will be responsible for supporting the Firm's health & welfare benefit plans/programs by collecting and maintaining financial data and preparing and reviewing data analytics to assist in the financial management of these benefit plans and programs. This position will be based in our New York office and has a hybrid in-office/remote working schedule. Please note that the Firm will not sponsor applicants for work visas for this position.

• Support the financial planning and development of benefit plans including but not limited to medical, dental, vision, life, and disability.
• Participates in the financial tasks associated with the benefit programs planning including the development of rate setting, forecasting, and the impact to the P&L and balance sheet.
• Updates budget spreadsheets and maintains all related financial accounting and reconciliation data including collecting data from both internal and external resources, maintaining census information, premium and claim spreadsheets and other related reports.
• Analyzes monthly claims tracking reports for self-insured plans including paid claims and all fixed costs associated with the plans.
• Develops self-insured medical plan trend reports utilizing databases provided by the insurance carriers.
• Develops and maintains budgetary spreadsheets and maintains all related financial accounting and reconciliation data including but not limited to: collecting all relevant data from both internal and external resources, maintaining and updating all related annual/monthly carrier premium claim spreadsheets and related census data, departmental budget spreadsheets, and all other related reports.
• Reviews and reconciles carrier invoices and facilitates payment of invoices.
• Analyzes trends and assists in the development of recommendations of plan design and contributions by identifying savings opportunities to control costs.
• Conducts auditing functions to ensure data accuracy and integrity
• Support day-to-day project management by coordinating the scheduling of meetings with carriers and brokers and maintaining records and notes, tracking take-aways items from meetings and responsible to follow-up with stakeholders for associated items. Assist with the review of materials provided.
• Work with brokers and consultants to support the management of third-party vendor relationships to ensure efficient and effective management and administration of all benefit plans.
• Supports the annual renewal processes for all health and welfare benefit plans and programs including but not limited to: guiding the renewal timelines, analyzing proposals and negotiating pricing and applicable contract terms, and developing associated budget and financial analysis spreadsheets to be presented to senior leadership.
• Assist in reviewing benchmark data to identify industry and competitor trends. Supports research of best practices using market surveys, networking, and other sources of industry information, to recommend competitive and cost effective benefit packages.
• Anticipates and meets partner and employee needs in a timely and professional manner.
• Performs other duties as assigned.

Qualifications

• Knowledge of Firm operation, policies and procedures
• Pays attention to detail and data accuracy
• Works well independently, takes initiative and works well with limited supervision
• Strong written communication skills including strong grammar and proofreading ability
• Ability to synthesize, interpret and summarize information in a clear, concise manner
• Must be highly organized with ability to work well under pressure and manage multiple high-priorities in a fast-paced environment; flexible and adaptable
• Strong computer skills; high proficiency in MS Word and expert level MS Excel skill set, HR systems, Database systems
• Strong skills in data mining, manipulation, and analysis
• Knowledge of laws and regulations impacting employee benefits
• Knowledge of payroll and accounting functions, as they relate to the interaction with benefits
• Proficient in mathematical and accounting principles, general ledger, budgeting and budget variance analysis
• Keeps matters confidential
• Strong customer service and interpersonal skills
• Is a team player; deals courteously/effectively with others
• Flexibility to adjust hours to meet operating needs

Education and Experience

• Bachelor's degree
• Minimum of three (3) years of related experience
• Self-insured health plan financials experience required.
• Workday experience preferred

Culture & Life at Skadden
What makes Skadden special is our people and the culture, community and spirit of collaboration we have created. We believe in teamwork and inspiring each other to be our best in an atmosphere that promotes professionalism and excellence in all that we do. We know that inclusion and drawing on the strength of a wide spectrum of talent only make us better and is vital to the firm's success. Our goal is for everyone at the firm to enjoy a challenging career with opportunities for development and growth and to support the well-being of our attorneys and business services professionals.

Benefits

The overall well-being of our team is important to us. We offer generous benefits to help you achieve wellness in all areas of your life.

• Competitive salaries and year-end discretionary bonuses.
• Comprehensive health care (medical, dental, vision), savings plan/401(k) and voluntary benefits.
• Generous paid time off.
• Paid leave options, including parental.
• In-classroom, remote, and on-demand learning and professional development opportunities.
• Robust well-being classes and programs.
• Opportunities to give back and make an impact in local communities.

For further details, please visit: https://www.skadden.com/careers/staff/employee-benefits

The starting base salary for this position is expected to be within the range listed under Salary Details. Actual salary will be determined based on skills, experience (to the extent relevant) and other-job related factors, consistent with applicable law.

Salary Details

EEO Statement

Skadden is an Equal Opportunity Employer. It does not discriminate against applicants or employees based on any legally impermissible factor including, but not limited to, race, color, religion, creed, sex, national origin, ancestry, age, alienage or citizenship status, marital or familial status, domestic partnership status, caregiver status, sexual orientation, gender, gender identity or expression, change of sex or transgender status, genetic information, medical condition, pregnancy, childbirth or related medical conditions, sexual and reproductive health decisions, disability, any protected military or veteran status, or status as a victim of domestic or dating violence, sexual assault or offense, or stalking.

Applicants who require an accommodation during the application process should contact Lara Bell at (212) 735-2794.

Skadden Equal Employment Opportunity Policy

Skadden Equal Employment Opportunity Policy

Applicants Have Rights Under Federal Employment Law

Applicants Have Rights Under Federal Employment Law

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