Benefits and Pensions Analyst

4 weeks ago

London, Greater London, United Kingdom MUFG Bank, Ltd Full time
Job Title: Benefits and Pensions Analyst

At MUFG Bank, Ltd, we are seeking a highly skilled Benefits and Pensions Analyst to join our team. As a key member of our Pension and Benefits team, you will play a crucial role in developing and delivering our MUFG Reward Strategy.

Main Responsibilities:

  • Provide support on Pension and Benefits matters to the business, HR function, and Pension and Benefits team.
  • Assist with delivering the agreed Pension and Benefits processes across the EMEA region to contribute to the creation of a successful high-performance culture.
  • Work closely and collaboratively with AskHR and Payroll to ensure smooth running of the Pension and Benefits plans and improve processes where possible.
  • Produce Monthly and Annual reports, including utilisation rates of benefits after the annual renewal, tracking and analysing trends of wellbeing data.
  • Organise employee events and seminars with Pension and Benefit providers, as well as Pension Trustee board meetings.
  • Provide support for the annual benefits renewal, including contract renewals, onboarding new providers, and testing of benefits platform.
  • First point of contact for any queries escalated by AskHR team.
  • Complete monthly reconciliations between data from the benefits platform and the benefits data on the payroll platform.
  • Manage invoices and track costs relating to benefit and pension expenses.
  • Investigate issues with data feeds from Workday to Darwin, investigating and resolving issues, recommending changes to process where necessary, and avoiding legislative breaches.
  • Oversee and support with Long-term absence and Income Protection claims, working closely with Benefits AVP, AskHR AVP, Analysts, and Payroll to ensure employees are paid correctly, their benefits are processed correctly, escalations are processed in a timely manner, and proportionate claims are managed appropriately.
  • Support and where appropriate manage the onboarding, setup, and inclusion of new benefit offerings.
  • Pension support for the four MUFG pension plans, including documenting and processing invoices and transfer of funds and balancing suspense accounts.
  • Attend broker, supplier, benefits portal supplier, and pension provider meetings where required with the AVP and/or Head of Benefits.
  • Coach managers and employees to use Tier 0 tools where available, and educate on benefits platform and user guides.
  • Maintain Tier 0 information shared on the Intranet or other MUFG tools to ensure correct information available for clients. Perform an annual review and create additional FAQs for further Tier 0 support.
  • Responsible for the document management processes within Benefits Team, ensuring that all required documentation is filed/scanned accordingly to employee personnel records and archiving.
  • Provide specialist pension and benefits administrative support to team when required.

Requirements:

  • Excellent financial analytical skills to interpret and understand business performance.
  • Excellent problem-solving skills, working with different stakeholders and managing priorities.
  • Strong leadership and influencing skills.
  • Experience scrutinizing and analyzing people data in order to inform HR and business strategy.
  • Experience in managing multiple projects, deadlines, and stakeholders.
  • Demonstrated ability to anticipate future trends/consequences and create innovative strategies.
  • Demonstrates an ability to prioritise a challenging workload and act with urgency, delivering to multiple, sometimes tight, deadlines.
  • Excellent attention to detail and ability to maintain a professional manner in a busy environment.

What We Offer:

At MUFG Bank, Ltd, we operate a hybrid working policy with 3 days per week in the office. We are open to considering flexible working requests in line with organisational requirements. We are committed to embracing diversity and building an inclusive culture where all employees are valued, respected, and their opinions count. We support the principles of equality, diversity, and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief, and marriage or civil partnership.

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