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Payroll and Benefits Manager
at Broadway Bank
Purpose of the Position:
This position supports key Human Resource (HR) functions by managing and/or supporting activities and/or programs in Payroll and Benefits. This position has management oversight and responsibility for the payroll and benefits functions including processes and procedures, policies, system administration, communication, program selection, vendor management, and compliance. This position manages a team of professional payroll and benefits specialists in the HR Department.
Directs activities of payroll specialists and controls tasks as necessary to accomplish the departments payroll processing objectives.
Supervises all aspects of the payroll function in the preparation and processing of the banks payroll, including maintenance changes, scheduled deductions, wage garnishments, and tax reporting.
Maintains relationships with internal and external auditors and state and federal agencies and ensures compliance with established financial, legal and/or administrative requirements.
Audits payroll process to ensure accuracy of the payroll process, compiles data from a wide variety of sources (e.g. time sheets/payroll, salary adjustments, tax deposits, etc.) for the purpose of analyzing issues, makes recommendations regarding policies and procedures and ensures compliance with mandated requirements.
Prepares and oversees the preparation of a variety of payroll-related documents (e.g. payment adjustments, retirement plan transfers, stop payments) and researches discrepancies of payroll information (e.g. time sheets, leave accruals, overpayments, underpayments, etc.) for the purpose of documenting activities and issues, meeting compliance requirements, and providing audit references.
Ensures compliance with Bank policies and procedures and all regulatory payroll requirements and federal and state laws (Department of Labor, Wage and Hour Division, Fair Labor Standards Act, Social Security, Internal Revenue Service, garnishment laws, state payday laws, etc.); stays abreast of changes and new developments by researching and interpreting associated regulatory and legal requirements for payroll processing.
Prepares monthly report reconciling payroll entries and general ledger entries.
Serves as back-up for processing payroll when payroll specialists are not available.
Manages the reconciliation process and requests for payment of all benefit-related invoices (medical, dental, vision, short-term disability, group life insurance, AD&D insurance, critical illness, EAP services, COBRA administration, FSA administration, FMLA administration, and others) on a monthly basis and in a timely manner.
Maintains strong knowledge of benefits related compliance areas and perform needed activities associated to complying with federal, state and local regulations related to benefits including, but not limited to COBRA, ERISA, FMLA, HIPAA.
Identifies benefit options by studying programs and obtaining advice from consultants.
Oversees set-up of benefit files and processing of benefits forms for new employees.
Responsible for security of benefit files and information.
Reviews medical plan reports to monitor utilization of benefits and claims experience.
Reviews benefit programs to ensure plans meet objectives of the organization.
Oversees COBRA administration of third-party vendor.
Manages employee leaves of absence processes (FMLA, medical, extended, compassionate) and maintains records for all employees on leaves of absence.
Oversees FMLA administration through the third-party vendor.
Manages the benefit plans to ensure the plans operate in accordance with the plan documents and vendor service agreements and assists in resolving issues.
Manages the preparation and execution of benefit documentation (e.g. original and amended plan texts, benefit agreements, plan documents, summary plan descriptions, etc.).
Maintains employee benefits data in the human resources information system and coordinates the transfer of data to external vendors, plan providers, auditors and consultants.
Liaise with all brokers, advisors, consultants and vendors for health and welfare plans as it relates to benefits administration.
Prepares and communicates information to employees and former employees about benefits programs, procedures, changes, and government-mandated disclosures.
Negotiates contracts with benefit plan providers, vendors, auditors, and consultants for services, premiums, and plan administration.
Monitors utilization of benefits programs for cost-control and risk-assessment factors.
Manages the annual benefits open enrollment, including self service, vendor interface files, testing, employee communications and presentations, and implementation of changes.
Contributes to the benefit renewal process by attending renewal meetings with insurance brokers to review prior year claims experience and determine best options for renewal.
Manages COBRA and Board of Director enrollments.
Oversees the completion of Form 5500s for life insurance, medical/dental insurance and LTD plans by insurance broker.
Prepare and distribute written and verbal communication to inform employees of benefits.
Completes the audit(s) and survey(s) required by law and requested from the Department of Labor and/or other government entity.
Prepares and distributes written and verbal communication on employee benefits, payroll notifications, system modifications, and/or other related procedures and policies.
Manages a team of payroll and benefits personnel by conducting performance reviews, recommending salary and promotional changes, providing coaching and feedback, and defining career paths.
Monitors and assess processes and workflow specific to this position and recommends changes for efficiency and process improvement.
Performs other duties as assigned.
Competencies and Skills:
Demonstrated ability to handle multiple priorities in a fast paced environment
Strong organizational, communication, and decision making skills
Strong customer service and problem solving skills with the ability to successfully interact with all levels of employees
Strong collaboration and team building skills
Skill / Requirements
Work Experience Requirements:
5 years payroll and benefits experience at a management level that includes a thorough understanding of the administration and regulatory/legal requirements of payroll processing and benefit plans
Strong accounting skills that include transaction balancing and reconcilements
Experience with FMLA regulations and administration
5 years supervisory experience
Strong knowledge of HR related state and federal laws and regulations is preferred
Experience with report writing
Experience using ADP is preferred
Bachelors degree or equivalent applicable work experience
Bachelors degree in business or human resources related field is preferred
PHR and/or CPP Certification is preferred
Knowledge of 401(K) plans, non-qualified plans, and bank owned life insurance as it relates to payroll administration is preferred.
PC skills with strong proficiency in the Microsoft Office Suite
This job description is not designed to be a comprehensive listing of duties, responsibilities, or activities that are required for this job. Duties, responsibilities, and activities may change at any time with or without notice.
Broadway Bank is proud to be an Equal Opportunity and Affirmative Action Employer. Broadway Bank is a drug-free and tobacco-free workplace, with a nicotine-free hiring policy. All qualified applicants will receive consideration for employment without regard to race, color, ethnicity, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, genetic data or other legally protected status.