Sr. Compensation & Benefits Analyst
Description
Are you looking to make an impactful difference in your work, yourself, and your community? Why settle for just a job when you can land a career? At ICW Group, we are hiring team members who are ready to use their skills, curiosity, and drive to be part of our journey as we strive to transform the insurance carrier space. We're proud to be in business for over 50 years, and its change agents like yourself that will help us continue to deliver our mission to create the best insurance experience possible.
Headquartered in San Diego with regional offices located throughout the United States, ICW Group has been named for ten consecutive years as a Top 50 performing P&C organization offering the stability of a large, profitable and growing company combined with a focus on all things people. It's our team members who make us an employer of choice and the vibrant company we are today. We strive to make both our internal and external communities better everyday! Learn more about why you want to be here!
PURPOSE OF THE JOB
The Senior Compensation & Benefits Analyst plays a critical role in supporting the design, administration, and continuous improvement of the organization’s Total Rewards programs. This position is responsible for administering employee benefits programs, analyzing compensation and benefits data, ensuring compliance with applicable laws and regulations, and supporting initiatives that attract, retain , and engage top talent. The role partners closely with HR leadership, Finance, Payroll, external brokers, and vendors to ensure the organization’s compensation and benefits programs remain competitive, compliant, and aligned with the company’s strategic goals.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Benefits Administration
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Administers employee benefits programs including medical, dental, vision, life insurance, disability, retirement plans, wellness initiatives, and leave programs.
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Coordinates daily benefits processing including enrollments, COBRA, terminations, beneficiary updates, and qualifying life event changes.
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Serves as the primary point of contact for benefits vendors, brokers, and third-party administrators.
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Collaborates with Payroll to ensure benefit deductions are processed accurately.
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Reconciles and processes benefits premiums and serves as administrator for benefits billing systems.
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Maintains accurate benefits records and documentation in accordance with federal, state, and vendor requirements.
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Conducts regular benefits audits to ensure compliance, data accuracy, and proper vendor data transmission.
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Completes regulatory filings and nondiscrimination testing for applicable benefits plans.
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Ensures all plan documents and policies remain current and compliant with applicable regulations.
Compensation & Total Rewards Analysis
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Supports the administration and analysis of compensation programs including salary structures, job evaluations, and pay practices.
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Conducts market benchmarking and compensation analysis using salary surveys and market data.
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Assists with compensation review cycles including merit increases, promotions, and bonus planning.
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Analyzes compensation and benefits data to identify trends and support strategic decision-making.
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Provides insights and recommendations to support competitive and equitable pay practices.
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Assists with maintaining compensation structures, job leveling frameworks, and salary ranges.
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Performs hands-on analysis of compensation and benefits data by pulling reports, validating data, reconciling discrepancies, tracking trends, and identifying exceptions that require follow-up.
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Prepares practical spreadsheets , summaries, trackers, and variance analyses to support merit cycles, benefit renewals , budgeting, vendor discussions , and leadership requests .
Benefits Strategy and Program Design
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Evaluates existing benefits programs and benchmarks offerings against industry standards.
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Conducts research on new or improved benefits offerings and wellness initiatives.
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Partners with HR leadership to recommend enhancements that improve employee experience and support recruitment and retention goals.
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Supports implementation of new benefits programs or program changes.
Benefits Communication & Employee Support
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Serves as a key point of contact for employee benefits inquiries, resolving issues with accuracy and empathy.
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Develops and delivers clear benefits communications to employees and managers.
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Coordinates and administers the annual open enrollment process, including communications, system updates, and employee education.
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Facilitates benefits information sessions and prepares presentation materials as needed.
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Ensures employees understand available benefits programs and how to access them.
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Develops and maintains job aids, process guides, FAQs, checklists, and employee-facing resources to improve understanding of benefits processes and Total Rewards programs.
Compliance & Reporting
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Ensures compliance with applicable federal, state, and local regulations including ERISA, HIPAA, COBRA, ACA, and other regulatory requirements.
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Maintains required benefits documentation and prepares regulatory reports and filings.
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Prepares reports, dashboards, and presentations for HR leadership related to benefits utilization , costs, and trends.
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Stays informed of legislative changes and industry trends impacting compensation and benefits programs.
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Reviews reporting outputs for data issues, unusual changes, missing information, and process gaps; follows up with HR, Payroll, Finance, vendors, or employees to resolve issues.
EDUCATION AND EXPERIENCE
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Bachelor’s degree in Human Resources , Business Administration, Finance, or a related field required . Equivalent experience may be considered in lieu of a degree.
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Minimum 5–6 years of experience in benefits administration, compensation analysis, or Total Rewards.
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Experience working with HRIS systems such as Workday preferred.
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Experience with compensation benchmarking tools or survey platforms preferred.
PREFERRED CERTIFICATIONS
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Experience developing job aids, standard operating procedures, employee guides, or process documentation preferred.
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Professional in Human Resources (PHR) or SHRM-CP
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Certified Benefits Professional (CBP) or Certified Compensation Professional (CCP)
KNOWLEDGE AND SKILLS
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Strong knowledge of benefits regulations and compliance requirements.
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Working knowledge of compensation structures, market benchmarking, and pay practices.
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Strong hands-on analytical and problem-solving skills, including the ability to pull reports, validate data, reconcile discrepancies, and identify exceptions requiring follow-up.
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Advanced proficiency in Microsoft Excel, including formulas, pivot tables, lookups, data validation, variance tracking, and maintaining practical trackers and summary files.
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Ability to interpret compensation and benefits data, summarize findings clearly, and translate reporting outputs into practical next steps for HR, Payroll, Finance, vendors, and leadership.
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Skilled in reviewing reports and system outputs for missing information, unusual changes, data quality issues, and process gaps.
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Ability to create and maintain job aids, process guides, checklists, FAQs, and user-friendly documentation that support consistent Total Rewards processes.
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Strong organizational and project management skills.
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Excellent written and verbal communication skills.
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Ability to maintain confidentiality and professionalism when handling sensitive information.
PHYSICAL REQUIREMENTS
Office environment – no specific or unusual physical demands. Employees are regularly required to sit, stand, walk, talk, and hear.
WORK ENVIRONMENT
This position operates in a professional office en