Total Rewards Analyst

Position Summary

Position Summary:

This position is responsible for supporting the Total Rewards function with a particular focus on benefit program financial management and Total Rewards vendor management. Responsible for analysis of benefit claims and expenses and the calculation and allocation of expenses to Parker business units. Responsible for the application of financial controls and policy compliance related to all Total Rewards programs / vendors with reporting responsibilities to executive management and business units.

Scope/ Supervision and Interaction:

This position reports to the Director, Global Benefits & Governance, and will work collaboratively with the US Total Rewards leaders and US Benefits team. This position will interact with Audit, Finance/Accounting, Payroll, Procurement, Human Resources, Legal, I/T and various external suppliers as needed to support the financial management of Parker's Total Rewards programs.

____ Has Direct Reports __X__Does Not Have Direct Reports

Essential Functions:

• Evaluate healthcare costs, investigate deviations, develop trends, and calculate cost projections for executive management and external consultants. Analyze data to support strategic decision making and provide actionable recommendations to leadership.
• Responsible for the process of funding and invoice payments for all US Benefits including retirement plans, benefits claims and associated allocations. Develop annual communications concerning Benefit costs projections for HR and Financial Mangers as well as assist Parker divisions to understand Benefit costs/allocations.
• Develop, modify, and monitor annual and monthly budgets for the Benefits, Compensation and HRIS departments. Assure appropriate expense and allocation methodology to Corporate and Global Operations.
• Collaborate with Global Total Rewards team members to ensure governance and legal compliance for all benefit programs, including the ongoing monitoring of our Global Total Rewards vendor inventory.
• Manage global Total Rewards Suppliers ensuring compliance with all Parker policies. Includes MSA management, data security agreements, risk assessments and Parker cyber security policy guidelines.
• Responsible for all supplier escalations, requests for proposal, and incident response and resolution.
• This role serves as the liaison between Total Rewards and Compliance/Internal Audit. Work with manager(s) to assure Sarbanes Oxley compliance. Develop, document and test protocols to meet Sarbanes Oxley requirements. Proactively communicate and escalate potential issues. Develop protocol for supplier(s) and work with Audit to assure control compliance.
• Manage the development, data feeds and reconciliation of the US benefits data warehouse.
• Partner with third-party administrators to administer the collection of COBRA, Retiree and Optional Life Insurance and all other voluntary benefit premiums and include in the monthly business unit allocations.

• Identify opportunities for improvement concerning controls and internal processes. Prioritize tasks geared toward accomplishing department goals and objectives.

  
  

Qualifications:

• Bachelor's degree in Human Resources, Business, Accounting, Finance or related field required.
• 3+ years related experience.
• Outstanding analytical skills, comfortable working with large amounts of data and communicating data findings.
• Expert level proficiency in Microsoft Excel.
• Working knowledge of HRIS and Payroll platforms; PeopleSoft and UKG experience is preferred.
• Strong project management and organizational skills.
• Ability to communicate effectively and establish strong working relationships.
• Ability to listen and use critical thinking to assess business needs and identify potential solutions.

Parker Hannifin

Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century, we've enabled engineering breakthroughs that make energy cleaner, transportation safer, medical treatments more effective, and manufacturing more efficient.

With empowered team members in more than 40 countries, Parker serves customers across aerospace & defense, energy, HVAC & refrigeration, in-plant & industrial equipment, off-highway and transportation.

Our scale is global, but our purpose is personal. We enable breakthroughs that improve lives, strengthen communities and create a brighter future.

Our Purpose - Enabling Engineering Breakthroughs that Lead to a Better Tomorrow - comes to life through our people-first culture where teamwork drives performance, inclusion fuels innovation and growth is encouraged. This environment fosters collaboration and empowers team members from engineering and manufacturing to finance, supply chain, human resources, information technology and beyond.

By combining deep expertise with an entrepreneurial spirit, we help customers succeed in markets that demand performance, reliability, and sustainability.

As we look to the future, Parker is advancing initiatives in energy efficiency and sustainability while developing the next generation of talent and leaders to engineer a better tomorrow.

Equal Employment Opportunity

Parker is an Equal Opportunity and Affirmative Action Employer. Parker is committed to ensuring equal employment opportunities for all job applicants and employees. Employment decisions are based upon job related reasons regardless of race, ethnicity, color, religion, sex, sexual orientation, age, national origin, disability, gender identity, genetic information, veteran status, or any other status protected by law. However, U.S. Citizenship, Permanent Residency or other appropriate status is required for certain positions, in accord with U.S. import & export regulations.

("Minority / Female / Disability / Veteran / VEVRAA Federal Contractor")

If you would like more information about Equal Employment Opportunity as an applicant under the law, please go to Employees & Job Applicants | U.S. Equal Employment Opportunity Commission