Title: Compensation and Benefits Director
Direct Reports: Yes
Contact: Matt Hoefling
Compensation and Benefits Director
Reporting to the Chief Human Resources Officer (CHRO), the Compensation and Benefits Director is responsible for the design, oversight, and administration of all employee compensation and benefits programs and initiatives at the Client. This will include the annual total compensation planning process, competitive pay analyses, oversight over payroll, and job infrastructure review, along with recommendations and the implementation of benefit and wellness programs. Working collaboratively with the business and Finance, the Compensation and Benefits Director will be required to understand specific business needs while driving the delivery of well-considered compensation and benefit solutions and processes. This role requires strategic thinking, planning expertise, and analytical abilities. The Director will interact across all levels of the enterprise and with external resources, including vendors, legal counsel, and consultants. This position will supervise two Payroll and Benefits Specialists.
Responsibilities include but are not limited to:
- Lead the design and administration of the Client’s compensation programs, including base pay management, incentive, and other variable compensation plans under the direction of the CHRO and in collaboration with the CFO to motivate, incent and reward effective performance.
- Complete hands-on competitive benchmarking, FLSA designations, base and incentive compensation, and executive compensation programs.
- Review and supervise the work of the Payroll and Benefits Specialists processing the payroll related transactions, to ensure timely and accurate payroll submissions. This includes driving the efforts to ensure proper processes are in place for capturing all payroll inputs and ensuring timely and accurate submission to the payroll service providers.
- Recommend and implement changes to operating procedures regarding workflow and scheduling to meet productivity and quality standards.
- Partner with various internal departments including Finance and manage external payroll service vendor relationships (ADP, Voya, Flores etc.).
- Prepare survey submissions for compensation and benefits, analyze results, identify trends/themes, and make recommendations to revise or enhance offerings.
- Partner with the CHRO on executive compensation projects and assist in the preparation of materials for the Executive Committee of the Board of Directors.
- Prepare components of offer packages for new hires, promotions, and adjustments, and prepare the staffing budgets for each entity.
- Monitor and evaluate the Client’s benefits programs, including insurance programs, retirement plans, sick leave, time off, and vacation policies.
- Lead annual benefits renewal process, 401(k) audit and non-discrimination testing. Ensure plan documents are maintained, revise SPDs, and ensure all regulatory filings are executed.
- Ensure all projects, programs, plan documentation, and communications meet applicable guidelines.
- Coordinate with benefit providers on wellness and health education initiatives.
- Collaborate with Corporate Services on Workers Compensation Audit and reporting
- May participate in negotiating benefit coverage with benefit vendors and broker.
- Develop and implement a comprehensive communication strategy for benefits programs.
- Partner with HRIS in the administration and maintenance of open enrollment, annual pay cycle, and HRIS management.
- Work on special projects for the Human Resources team.
- Coach, mentor, and provide professional development for the payroll team.
- Maintain working knowledge of federal and state legislation influencing compensation and benefits.
- Bachelor’s Degree in Finance, Human Resources, Management, or other related discipline. CCP/CBP preferred.
- 10+ years of hands-on experience with developing compensation and benefits plans.
- Financial services industry experience strongly preferred. Previous experience in a non-profit organization is a plus.
- High level of analytical/technical skills, financial modeling experience, and familiarity with market data surveys, and compensation planning software.
- Experience in educating employees and leadership on compensation and benefits.
- Multi-state/Multi-company/Multi-jurisdiction payroll tax and labor law experience.
- Strong understanding of all compliance and reporting requirements relating to compensation and benefits.
- Must be a results-driven, detail-oriented, highly-energetic team player who can function effectively and independently in a fast-paced and dynamic environment.
- Strong project management skills with attention to detail and flexibility.
- Ability to solve complex issues, prioritize, and take initiative.
- Analytical, team-oriented, and collaborative individual who is able to support junior team members.
- Exceptional skills with MS Excel, data organization, and presentation.
- Strong written and verbal communication skills.