Benefits Manager

The Benefits Manager plays a key role in defining and executing our benefits strategy by developing, implementing, and managing benefits. This position is responsible for the ongoing operations of benefits programs, program compliance, and analysis related to providing strategic and design recommendations to executive management. This position also provides exceptional service to employees, benefits vendors, and advisors.
 

Success in the role requires an individual to be both strategic and hands-on in leading all facets of benefits. The successful candidate will work to ensure our benefits are competitive and drive business results while both reflecting and enhancing our culture.

A successful Benefits Manager will know how to do the following confidently and independently…
 

Benefits Administration and Employee Support (60%):

• Manages day-to-day benefits matters as employees’ primary point of contact as internal subject matter expert, including coverage questions, claims inquiries, enrollments, coverage terminations, and other qualifying event changes.
• Works with outside benefits advisors for escalated employee benefits matters.
• Adapts, documents, and maintains administrative procedures for benefits processes.
• Plans, prepares, and delivers written and verbal information and conducts employee meetings and presentations, including open enrollments, to provide benefits education.
• Promotes wellness and other initiatives that support employee well-being.
• Reviews, verifies, and reconciles invoices for related benefits plans.

Vendors and Compliance (25%)

• Serves as the primary contact for outside benefits advisors and vendors.
• Maintains complete and accurate employee benefits records and manages related audits, processes, and controls to ensure completion and accuracy.
• Manages the overall execution of the 401k plan including completion of all compliance activities.
• Oversees and completes relevant 5500 filings, related audits, and ACA reporting.
• Maintains knowledge of and ensures compliance with all applicable federal and state laws and regulations including ACA, ERISA, HIPAA, FMLA, COBRA, ADA, ADAAA, and FLSA.

Strategic Planning and Stakeholder Engagement (15%)

• Monitors key benefits plan data and provides high-quality reporting to HR leadership and benefits committee.
• Researches, analyzes, and recommends benefits programs.
• Evaluates benchmarks and competitive trends, in conjunction with outside advisors, for benefits offered by other organizations.
• Collaborates with HR leadership and benefits committee to align benefits strategy with organizational goals.
• Prepares executive summaries and presents updates to leadership.

What we are looking for…

• Minimum of 5 years of experience in benefits planning, administration, and analysis.
• Must demonstrate intermediate to advanced understanding of medical, dental, vision, disability, life, FSA, HSA, TSA, 401k, and similar employee benefits; benefits certification preferred.
• Demonstrated experience building relationships with vendors, advisors, and internal stakeholders to ensure effective collaboration, support, and service.
• Strong knowledge of federal, state, and local laws regarding employee benefits.
• Excellent written and verbal communication skills and ability to clearly interpret and explain benefits plans and policy features to broad audience types and sizes.
• Experience within HRIS applications, Paylocity experience is a plus.
• Strong analytical, problem solving, and project management skills.
• Collaborative, inclusive approach to planning and project management.
• Ability to develop effective processes to produce consistent, accurate outcomes.
• Intermediate user of Excel, Word, Outlook, PowerPoint, and Teams.
• Ability to work independently and in a team.
• Must demonstrate a history of excellent teamwork, a positive attitude, personal accountability, high integrity, enduring commitment, and high empathy.

About Merchants 

Ranked as a top performing U.S. public bank by S&P Global Market Intelligence, Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operating multiple segments, including Multi-family Mortgage Banking that offers multi-family housing and healthcare facility financing and servicing; Mortgage Warehousing that offers mortgage warehouse financing; and Banking that offers retail and correspondent residential mortgage banking, agricultural lending, and traditional community banking. Merchants Bancorp, with $18.8 billion in assets and $11.9 billion in deposits as of December 31, 2024, conducts its business primarily through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Merchants Capital Investments, LLC, Merchants Capital Servicing, LLC, Merchants Asset Management, LLC, and Merchants Mortgage, a division of Merchants Bank of Indiana.
 

Merchants Bank and Merchants Capital have recently been honored with the 2025 USA Today Top Workplaces recognition, ranking 22nd nationally within the 500-999 employee category. This is the second year that Merchants has been recognized with this award. These accolades build on our strong history of workplace recognition, including being named a Best Place to Work in Indiana for seven consecutive years (2016–2022). For more information read the entire article here.

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