Hiring Range: $72,214 - $118,636
The posted salary range reflects Eastern’s expected hiring range. Actual pay may vary based on experience, skills, and market factors; additional compensation may apply. Eastern offers a robust benefits and retirement package. Please see the description of benefits included with this job posting for additional information.
Benefits Analyst II plays a key role in delivering a high-quality holistic benefits experience for employees. The position is a true benefits SME, responsible for managing the design, administration, analysis, and optimization of Eastern’s health, welfare, retirement, and wellness programs. Acting as a trusted subject matter expert, this role partners closely with HR leadership, payroll, finance, external vendors, and brokers to manage costs, ensure regulatory compliance and enhance employee experience. The Benefits Analyst II also serves as a mentor to other team members and is a key contributor to strategic benefits initiatives.
Major Responsibilities:
- Administer and oversee Eastern’s medical, dental, vision, life insurance, disability, voluntary benefit programs and wellness offerings
- Have a working knowledge of retirement plan compliance and administration
- Lead annual open enrollment beginning-to-end, vendor coordination, system readiness and employee communications
- Assist in analyzing benefits cost, utilization, and participation data to identify trends, risks, and cost saving opportunities to improve value and manage spend
- Partner with brokers and vendors on renewals, negotiations, audits, and issue resolution
- Ensure compliance with federal, state, and local regulations (ACA, ERISA, COBRA, HIPAA, FMLA, Section 125, etc.)
- Prepare and file required notices and reporting (e.g., 1095 C, and Form 5500 support)
- Serve as go-to expert for complex employee benefits questions, escalations, and issue resolution
- Collaborate with Payroll to ensure accurate benefits deductions, vendor billing, reconciliations and carrier payments
- Act as system administrator and subject matter expert for the benefits module within Eastern’s Employee Hub (HCMS), including configuration, testing, carrier file feeds, and ongoing enhancements
- Leverage technology (including AI) and data to streamline benefits administration and improve accuracy, efficiency, and employee experience
- Create engaging benefits communications and educational materials for employees and managers
- Serve as a benefits subject matter expert for the internal HR team, as well as employees
- Contribute to special initiatives such as vendor RFPs, mergers and acquisitions and evolve the annual Wellness Program to drive engagement and support employee well-being
- Continuously review administrative processes, identify improvement opportunities, and implement preventative solutions
- Work with external vendors to ensure high levels of service and quality, processing accuracy, and compliance adherence
- Manage all aspects of the annual employee service recognition program Stay current on benefits trends, regulatory changes, and best practices through professional development and industry engagement
Qualifications
• Bachelor’s degree in Human Resources, Business Administration, Finance, or related field
• Hybrid position located in Wakefield, MA
• 5–8+ years of progressive experience in benefits administration and analysis
• Strong working knowledge of employee benefits, regulatory requirements, and compliance standards
• Advanced analytical skills with the ability to interpret claims data, financial reports, and benefit metrics
• Experience working with HCM and benefits administration systems (e.g., Oracle, Workday, ADP or UKG)- Oracle benefits modules highly preferred
• Advanced proficiency in Excel (pivot tables, VLOOKUP/XLOOKUP, data analysis) and PowerPoint
• Excellent communication (written and oral) and interpersonal skills with the ability to explain complex topics in a clear and empathetic way
• Strong organizational and project management skills
• Demonstrated ability to handle sensitive and confidential information with discretion
About Us
Skills Required
- Bachelor's degree in Human Resources, Business Administration, Finance, or related field
- 5-8+ years of progressive experience in benefits administration and analysis
- Strong working knowledge of employee benefits, regulatory requirements, and compliance standards
- Advanced analytical skills with the ability to interpret claims data, financial reports, and benefit metrics
- Experience working with HRIS and benefits administration systems (e.g., Oracle, Workday, ADP or UKG)- Oracle highly preferred
- Advanced proficiency in Excel (pivot tables, VLOOKUP/XLOOKUP, data analysis) and PowerPoint
- Excellent communication (written and oral) and interpersonal skills with the ability to explain complex topics clearly
- Strong organizational and project management skills
- Demonstrated ability to handle sensitive and confidential information with discretion
Eastern Bank Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about Eastern Bank and has not been reviewed or approved by Eastern Bank.
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Retirement Support — A defined‑benefit pension layered with a 401(k) and ESOP/cash‑balance elements creates uncommon depth for long‑term wealth building. This retirement stack differentiates the total package versus many regional banks.
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Equity Value & Accessibility — An employee stock ownership plan adds equity participation alongside core pay and benefits. IPO‑related share allocation underscores the program’s role in total rewards.
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Inclusive Benefits Coverage — Long‑standing LGBTQ+ support and sustained recognition for equality practices indicate benefits parity such as equal partner coverage. Employee networks and an inclusion focus are positioned as integral to the overall benefits experience.
Eastern Bank Insights
What We Do
Founded in 1818, Boston-based Eastern Bank is Greater Boston’s leading local bank and the largest bank-owned independent investment advisor in Massachusetts with approximately 110 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, Rhode Island and Connecticut. Eastern provides a full range of banking and wealth management solutions for consumers and businesses of all sizes including through its Cambridge Trust Wealth Management and Private Banking divisions, and takes pride in its outspoken advocacy and community support that includes more than $240 million in charitable giving since 1994. An inclusive company, Eastern is comprised of deeply committed professionals who value relationships with their customers, colleagues and communities. Member FDIC, Equal Housing Lender Investments are not FDIC Insured • May Lose Value • Not Bank Guaranteed • Not a Deposit • Not Insured By Any Government Agency
