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Milliman Inc. DB Payment Analyst in Minneapolis, Minnesota

Description BASIC FUNCTION The Payment Analyst works in a team environment and is responsible for the operational tasks associated with servicing payment administration needs for defined benefit pension plans, maintaining compliance with the plan's provisions, and administrative policies. This includes, but is not limited to, reconciling benefit payments, establishing payment records, communicating payee information changes, and handling retiree checks. RESPONSIBILITIES OF THE POSITION Maintain and update payment administration procedures Review pension election forms and supporting documentation Prepare written communications for participants regarding payment issues Research participant records for internal and external requests related to payments Review and provide fulfillment of participant communications regarding payments Input payment information into Milliman's pension system (and other systems when applicable) Maintain signature authority forms for each trustee and administer changes as needed Transmit information to Trustee for payment initiation and payment changes Communicate with Trustee regarding stop payments and check reinstatements Complete reconciliation of pension payments with Trustees Provide support resolving issues identified by death audits Monitor progress of daily tasks Ensure final work products are of high quality and provided in a timely fashion Provide support for special projects and other tasks as needed Identify, analyze, and assist in implementing process improvements Assist with training of new employees as needed Take an active role in pursuing continued education REQUIRED EXPERIENCE AND SKILLS Ability to demonstrate strong organizational skills Strong analytical capabilities Great attention to detail Ability to work in a team environment and individually Ability to balance and prioritize multiple projects Proficient in the use of Microsoft Office Suite (Word and Excel) Willing to pursue exams with the American Society of Pension Actuaries, National Institute of Pension Administrators, Society of Actuaries, or CEBS (a designation with any of these societies is a plus) Pension benefit background preferred PERSONAL CHARACTERISTICS Must demonstrate Milliman's core values which include: Integrity - Must be honest, fair, active listener, open communicator and accountable. Teamwork - Work cooperatively and treat clients and coworkers with respect and dignity while valuing individual differences, encouraging new ideas and sharing information. Commitment to excellence - Demonstrate commitment to being creative, innovative, flexible and adaptable, focusing on quality solutions, continually improving and being a winner. COMPENSATION A competitive base salary, plus a performance-based incentives bonus tied to the overall business performance. The firm offers an outstanding and comprehensive benefits package: Medical, dental and vision coverage for employees and their families, including eligible domestic partners. A 401(k) plan with matching program Paid Parental Leave up to 12 weeks Profit sharing as a discretionary contribution to employees' retirement accounts Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason. Adoption assistance Milliman covers 100% of the premiums for life insurance, AD&D, and both short term and long term disability coverage Flexible spending accounts allow employees to set aside pre-tax dollars to pay for dependent care, transportation and applicable medical needs ABOUT MILLIMAN Milliman employs more than 3,500 people working in employee benefits, healthcare, life insurance/financial services, and property and casualty insurance. For more than 70 years, the firm has quietly earned a reputation for exceptional services, innovation and quality. Today Milliman is one of the nation's most highly regarded providers of retirement plan services to the full spectrum of business, financial, governme