WHAT DOES A COMPENSATION AND BENEFITS MANAGER DO?

Updated: Jan 11, 2025 - The Compensation and Benefits Manager stays current with market trends and regulatory changes to design effective solutions, ensuring the business meets emerging demands. Demonstrates expertise in rewards practices, driving a pay-for-performance agenda that aligns with global principles. Manages compliance audits and develops policies, maintaining rigorous adherence to legal standards and enhancing cross-functional relationships.

A Review of Professional Skills and Functions for Compensation and Benefits Manager

1. Compensation and Benefits Manager Duties

  • Reward Program Development: Contribute to the development and review of reward programs and policies aligned with global guiding principles while ensuring they are competitive and cost-effective to attract, retain, and motivate talent.
  • Annual Rewards Activities: Lead and/or support global/regional annual rewards activities and processes (e.g., benchmarking exercises, salary increase budgeting, annual compensation review) in accordance with the HR Roadmap and agreed timelines.
  • Manager Engagement: Engage with senior managers and HR heads to understand and gain insights into rewards challenges and issues.
  • Market Trends & Solutions: Stay abreast of market trends, regulatory changes, and competitors’ practices to design and deliver solutions that meet the immediate needs of the business.
  • Subject Matter Expertise: Demonstrate subject matter expertise on rewards practices and trends to deliver best-fit solutions that support current and future business needs.
  • Pay-for-Performance Agenda: Work with HR managers and line managers to drive the pay-for-performance rewards agenda and deliver reward solutions aligned with global rewards principles.
  • Consulting on Compliance: Act as the main consultant for the HR Department and store management teams on matters such as FLSA compliance, state overtime requirements, minimum wage and tipped minimum wage, tipping policies, vacation payouts, and employment of minors.
  • Compliance Audits: Manage weekly, monthly, and quarterly audits of key compliance indicators (including breaks, child labor laws, sick leave, wage & hour matters, and internal policies).
  • Cross-Functional Relationships: Develop and maintain relationships with operations and other World Headquarters departments to effectively participate in cross-functional efforts.
  • System Knowledge: Maintain a strong working knowledge of various systems to run standard and ad hoc reports, conduct thorough research, and troubleshoot issues.
  • Policy Drafting: Draft policies and procedures, ensuring adherence to Dave & Buster’s standards.
  • Regulatory Compliance: Ensure compliance with all regulatory frameworks and internal procedures as they relate to market-specific C&B programs.
  • Bargaining Proposal Assistance: Assist in the development of company bargaining proposals for employee benefits and analyze union benefits demands.
  • Cost Data Preparation: Obtain and prepare cost data for company and union proposals and final settlements.
  • ERISA & ACA Compliance: Assure company compliance with provisions of the Employee Retirement Income Security Act and the Affordable Care Act.
  • Report Supervision: Supervise the preparation of reports and applications required by law to be filed with federal and state agencies, such as the Internal Revenue Service, Department of Labor, insurance commissioners, and other regulatory agencies.

2. Compensation and Benefits Manager Details

  • Global Compensation Planning: Coordinate the global compensation planning process, including the annual salary planning cycle and annual incentive payouts.
  • Compensation Analysis & Reporting: Analyze and report on compensation projects such as new HR policy proposals, competitive analysis, budget projections, and accruals.
  • Salary Data Reporting: Compile, analyze, and develop reports on salary data, market trends, and forecasts of potential outcomes.
  • Job Evaluation Leadership: Lead and educate employees, managers, and HR staff on job evaluation and grading.
  • Job Analysis: Conduct job analysis to determine appropriate salary levels according to compensation guidelines and policy.
  • Salary Structures Management: Create and maintain global salary structures, analyze practices for compliance, and recommend changes.
  • Procedure Development: Develop and document procedures to streamline processes and ensure compliance with regulatory requirements.
  • Employee Benefits Management: Manage employee benefits programs in the US and Canada, including 401(k)/RRSP, medical, dental, prescription, vision, short and long-term disability, life insurance, accidental death, flexible spending, wellness, and FMLA.
  • HR Operations & Payroll Leadership: Accountable for the overall leadership of the HR Operations and Payroll teams, including all data administration and employee inquiries.
  • Service Provider Interaction: Interact with other service providers (benefits, retirement, leaves, etc.).
  • Policy Development: Contribute to the development of new operational policies and procedures affecting the HR Operations and Payroll teams.
  • Strategic Recommendations: Provide strategic recommendations regarding cost containment and increasing the return on investment in compensation programs and employee benefits, considering changes in the benefits market and organizational demographics.
  • Benefit Program Marketing: Work with benefits brokers to market current benefit programs regularly.
  • Finance Collaboration: Work closely with finance on compensation and benefits operational budgets, scheduling expenditures, analyzing variances, and initiating corrective actions.
  • Compliance Management: Meet compliance standards and deadlines with federal, state, provincial, and local legal requirements by studying existing and new legislation, obtaining qualified opinions, enforcing adherence to requirements, and advising management on needed actions.

3. Compensation and Benefits Manager Responsibilities

  • Benefit Program Management: Manage the design and implementation of benefit programs, including retirement (401k), medical, dental, vision, life, and disability.
  • Compensation Analysis: Analyze salary data, compensation/benefits market trends, and competitive practices to make recommendations for base and variable pay structures, adjustments, and annual increases.
  • Salary Surveys Participation: Participate in annual salary surveys and maintain market reference ranges for corporate positions.
  • Metrics Development: Develop metrics for the ongoing review of the effectiveness and utilization of compensation and benefits programs.
  • Benefits Planning Assistance: Assist with the annual benefits planning process, including data gathering and analysis, working with external broker consultants, conducting market pricing efforts, and making data-based recommendations.
  • Open Enrollment Management: Manage the overall open enrollment process, leveraging technology and external resources.
  • Stakeholder Collaboration: Facilitate strong collaborative relationships with internal stakeholders, external consultants, vendors, and other benefit/compensation providers.
  • Advisory Role: Advise on pay decisions, policy and guideline interpretation, and job evaluation.
  • Communication Plans: Develop effective communication plans for compensation and benefits programs.
  • Compliance Oversight: Oversee compensation and benefits compliance with applicable rules and regulations, including but not limited to HIPAA, ACA, FLSA, ERISA, and IRS code.
  • 5500 & Nondiscrimination Testing: Manage the 5500 and nondiscrimination testing processes for all plans.
  • Plan Documentation: Maintain documentation for all compensation and benefits plans.
  • Technology Leverage: Leverage technology to administer compensation and benefit programs, partnering with the HR Service Delivery Manager to ensure the best possible employee and manager experience.
  • Team Leadership: Lead a team of compensation and benefits specialists/analysts.
  • Vendor Collaboration: Work collaboratively with external vendor partners, including consultants, providers, external legal advisors, etc.

4. Compensation and Benefits Manager Accountabilities

  • Plan Design Analysis: Research and analyze plan designs, recommending employee benefits and compensation programs to optimize understanding, acceptance, interests, costs, regulatory compliance, and competitive advantage.
  • Strategic Planning Support: Provide leadership support by collecting, analyzing, benchmarking, and summarizing employee benefit and compensation data and trends.
  • Guidance & Counsel: Provide guidance and counsel to HR Business Partners, managers, and employees on benefit programs, leave programs, and assist with problem resolution.
  • Compliance Monitoring: Monitor eligibility, limitations, and restrictions of benefit plan participation to ensure compliance with plan provisions and government requirements.
  • Vendor Management: Serve as the primary contact with third-party vendors and consultants to ensure quality and efficiency in delivering benefit programs.
  • Leave Program Management: Manage, interpret, and administer leave programs and policies (STD, LTD, FMLA) by federal and state employment laws.
  • Workers' Compensation Oversight: Ensure that the workers' compensation program is managed in compliance with OSHA and workers' compensation laws.
  • COBRA Compliance: Oversee administration of COBRA compliance.
  • Recordkeeper Partnership: Partner with company recordkeepers to administer the 401(k) and 409A Deferred Compensation programs.
  • Job Descriptions & Classification: Develop and review job descriptions for both new and existing positions, determining position classification and appropriate salary range, STI, and LTI.
  • Consistency & Equity: Serve as the main point of contact for Talent Acquisition and HRBPs to ensure consistency and equity in pay practices for new hires and internal promotions/job changes.
  • Merit & Promotion Reviews: Manage the annual merit increase cycle and bi-annual promotion review cycles.
  • HRIS Collaboration: Collaborate with HRIS on continuous improvement and implementation of technology to streamline and automate compensation and benefits processes and programs.
  • Program Integration Support: Support the integration of benefit and compensation programs to ensure they work effectively together.
  • Tuition Reimbursement Management: Manage the tuition reimbursement process, including reconciliation of third-party billing and invoices.

5. Compensation and Benefits Manager Functions

  • Job Banding Leadership: Lead the job banding project for Northern Europe and the associated job catalog work for the SAP SuccessFactors implementation.
  • Benchmarking & Job Mapping: Ensure high-quality benchmarking for roles across the region, including leading job mapping and survey completion.
  • Vendor Needs Definition: Define needs regarding compensation vendors’ systems and data/support packages in partnership with corporate stakeholders as appropriate.
  • Reward Cycle Management: Manage the annual Reward Cycle (Salary Review, Bonus, Equity, etc.) for Northern Europe in partnership with corporate stakeholders and HR colleagues.
  • Bonus Arrangement Review: Review bonus arrangements below the senior management level.
  • Sales Commission Review: Review Sales Commission plans with Sales and Finance.
  • Benefits Review: Undertake market benefits and terms and conditions reviews within Northern Europe and recommend changes.
  • RemGroup Facilitation: Facilitate the Northern Europe RemGroup, including analyzing proposals and acting as Secretary.
  • Pension Management: Ensure that pensions are managed well in partnership with the designated advisors.
  • Compensation Compliance: Own compensation compliance processes and reporting, such as Gender Pay Gap reporting.
  • Fleet Policy Management: Own Fleet Policy in the UK and Ireland in partnership with Supply Chain.
  • Recognition Program Leadership: Lead on Recognition, including managing the Encore! Encore! program for Northern Europe.
  • Vendor Management: Manage compensation and benefits vendors.
  • Capability Building: Build compensation and benefits capability in HR through tools, coaching, workshops, etc.
  • Benefits Utilization: Maintain contact with hospitals, physicians, insurance companies, employees, and beneficiaries to facilitate proper and complete utilization of benefits for all employees.

6. Compensation and Benefits Manager Job Description

  • Benefit Program Management: Manage the company’s benefit programs (including health plans, 401(k), life, and disability), including reviewing programs, planning for open enrollment, communicating with employees, vendor management, and administration.
  • Benefit Enhancements: Evaluate, recommend, and implement additional benefit enhancements and changes to ensure competitiveness.
  • Vendor & Employee Contact: Act as the primary contact for plan vendors and employees to resolve health and welfare plan questions or issues.
  • Compliance Assurance: Ensure company compliance with federal and state laws governing both compensation and benefits practices.
  • Reporting & Audits: Prepare reporting for all health and welfare plans, including audits.
  • Pay Structure Development: Develop and implement corporate pay structure practices and coordinate similar structures with international sites.
  • Survey Participation & Reviews: Participate in compensation/benefits surveys and work with HR business partners on compensation reviews.
  • Focal Process Support: Support the annual focal process, including communicating the process, preparing files for managers, and coordinating inputs.
  • HRIS Management: Manage the HR Information System (HRIS), including implementing incremental improvements in the current HRIS system (Ascentis).
  • Future HRIS Project: Lead the project to identify a future HRIS system in partnership with the Payroll and HR team, targeting implementation in 2021.
  • System Transactions: Manage all HR system transactions for employee benefit enrollments and life event changes.
  • Merit Review Administration: Manage and administer the annual merit review process, including developing enhancements to the program, and creating supportive reports and analytics.
  • Performance Management Support: Assist managers and collaborate with HR Partners on the Performance Management process.
  • Finance & Payroll Collaboration: Partner with Finance, Accounting, and Payroll on various topics, including financial review of proposed changes to compensation and benefits programs, annual focal review budgets, HRIS/payroll implementation, and reconciliation of benefits invoices.

7. Compensation and Benefits Manager Overview

  • Benefits Comparison: Evaluate and compare existing company benefits with those of other employers by analyzing other plans, surveys, and other sources of information.
  • Survey Participation: Plan, develop, and/or participate in area and industry surveys.
  • Survey Analysis: Analyze survey results and develop specific recommendations for review by management.
  • Plan Development: Develop specifications for new plans or modify existing plans to maintain the company's competitive position in the labor market and obtain a uniform benefits package for all company locations.
  • Eligibility Recommendations: Recommend classes of eligible employees for new or modified plans.
  • Insurance Quotations: Develop census data and solicit insurance companies for quotations.
  • Quotation Evaluation: Evaluate quotations and make recommendations to management.
  • Cost Information Development: Develop company cost information for new plans and make premium cost share recommendations to management.
  • Plan Installation: Install approved new plans or changes to existing plans by preparing announcement materials, plan summary documents, and other media for communicating plans to employees.
  • Employee Enrollment: Conduct employee meetings and arrange for enrollment.
  • Benefits Advising: Advise and counsel management and employees on existing benefits.
  • Benefits Documentation: Prepare and execute, with legal consultation, benefits documentation, such as original and amended plan texts, benefit agreements, and insurance policies.
  • Administrative Instructions: Instruct insurance carriers, trustees, and other administrative agencies outside the company to effect changes in the benefits program.
  • Compliance Assurance: Ensure prompt and accurate compliance.

8. Compensation and Benefits Manager Details and Accountabilities

  • Benefits Policy Design: Design, evaluate, and modify benefits policies to ensure programs are current, competitive, and in compliance with legal requirements.
  • Program Effectiveness Evaluation: Evaluate program effectiveness and make recommendations.
  • Associate Surveys: Survey associates to identify the level of benefit satisfaction and possible needs, and implement changes based on feedback.
  • Program Administration: Administer compensation and benefits programs and evaluate program effectiveness.
  • Tool Development: Manage the design and development of tools to assist associates in benefits selection and guide managers through compensation decisions.
  • Compensation Analysis: Analyze compensation policies, government regulations, and prevailing wage rates to develop competitive compensation plans.
  • Job Descriptions & Classification: Prepare detailed job descriptions and classification systems, and define job levels and families in partnership with other managers.
  • Leave Management Oversight: Oversee the Leave Management benefit programs and processes.
  • Regulatory Reporting: Fulfill all reporting requirements such as the 5500 for all relevant government rules and regulations, including the Employee Retirement Income Security Act (ERISA).
  • Compliance Documentation: Prepare documents, reports, and maintain regulatory or compliance documentation related to compliance matters for plan administration, such as Summary Plan Descriptions.
  • Information Distribution: Direct the preparation and distribution of written and verbal information to inform associates of benefits, compensation, and personnel policies.
  • Enrollment Presentations: Plan and conduct presentations to support benefit enrollments, fostering a positive attitude toward benefit plans and programs, including conducting associate training programs.
  • Staff Management: Plan, direct, supervise, and coordinate the work activities of subordinates and staff relating to benefits, leaves, and compensation processes and plans.
  • Administrative Support: Actively assist in daily administrative activities.

9. Compensation and Benefits Manager Tasks

  • Strategic C&B Direction: Provide strategic C&B direction for the Zilingo group.
  • Program Design & Implementation: Design, review, and implement Group C&B programs, policies, and processes to achieve desired market compensation positioning.
  • Remuneration Analysis: Analyze different components of the remuneration scheme and prepare reports on internal equity and external competitiveness.
  • Leadership Partnership: Partner with senior leadership in respective countries/markets to identify C&B gaps and risks with appropriate recommendations.
  • Scheme Application: Ensure all employees' compensation and benefit schemes are applied properly.
  • C&B Harmonization: Lead C&B harmonization projects, including reviewing and implementing long-term incentive plans and stock options.
  • Team Leadership: Lead and mentor the country HR teams on C&B programs, delivering functional results and raising the bar of the team's competencies.
  • Initiative Alignment: Work closely with Country HRs to roll out C&B initiatives and ensure alignment with global C&B policies
  • C&B Guidance: Provide C&B guidance and advice to business leaders.
  • In-Market Support: Provide in-market support for annual pay reviews, merit cycles, bonus cycles, relocations, offers, insurances, etc.
  • Market Intelligence: Carry out C&B surveys and market intelligence studies.
  • Program Measurement: Demonstrate the value of the programs via measurement of utilization, impact, and outcomes.
  • Vendor & Compliance Management: Manage vendor relationships, compliance, and other statutory requirements.
  • HR Business Partnering: Provide HR business partnering support for specific markets in India.
  • HR Reporting: Manage and support HR reporting and dashboards.

10. Compensation and Benefits Manager Roles

  • Compensation & Benefits Expert: Act as the in-house expert on total compensation and benefit plans for the Company.
  • Leadership Education: Educate leaders at all levels of the organization on compensation philosophy, components of total compensation, and best practices in total rewards design and administration.
  • Competitive Compensation Packages: Maintain a strong understanding of the organization's goals and priorities and craft competitive individualized compensation packages that align with those goals.
  • Compensation Guidance: Guide the Compensation Analyst on store management and hourly programs and address escalated compensation matters.
  • Compliance Administration: Ensure that all Health & Welfare plans are administered in compliance with applicable Federal and State regulations.
  • Account Reconciliation: Responsible for the reconciliation of benefit accounts and billing processes.
  • Range Analysis: Lead annual and ad hoc range analysis for all company positions.
  • Base Range Adjustments: Identify areas of opportunity in base range structures and recommend adjustments to salary ranges and/or individual base salaries.
  • Compensation Trends Monitoring: Monitor industry compensation and benefit trends and recommend adjustments to compensation structures and benefit packages.
  • Bonus Management: Maintain responsibility for designing, analyzing, and paying all bonuses for all levels of the organization.
  • Design Modeling: Build models to understand the effect of various design options on payout percentages, accounting considerations, financial impact, and compliance.
  • Program Compliance: Ensure all programs comply with internal policies and legal requirements and support the organization’s goals.
  • Performance Management: Lead ongoing performance management initiatives and the annual merit increase and goal-setting process.
  • Executive Compensation Reporting: Play a key role in the annual executive compensation SEC reporting, including gathering information, drafting CD&A components, and verifying data.
  • Wage & Hour Compliance: Ensure the stays in compliance with federal and state wage & hour laws by monitoring, interpreting, and implementing updates.

11. Compensation and Benefits Manager Roles

  • Reward Strategy Management: Ensure the appropriate reward strategies, policies, and procedures are developed, approved, communicated to relevant stakeholders, and implemented.
  • C&B Program Administration: Manage the development, implementation, and administration of compensation & benefits programs while balancing cost, talent attraction, retention, and engagement.
  • Procedure Implementation: Review, research, recommend, and implement procedures, systems, and processes in line with relevant legislation and policies.
  • HR Linkage: Establish and maintain linkages between the compensation & benefits unit and other HR department functions to ensure uniformity in policy and procedure application.
  • Strategic Vision Development: Develop and communicate the strategic vision, scope, priorities, processes, systems, and tools of the compensation & benefits unit.
  • C&B Project Leadership: Lead important projects within the C&B Team to maintain basic compensation structures (grading system, job evaluation system, job description policy, promotion policy, etc.) aligned with the corporate culture and values.
  • Compensation Practice Monitoring: Monitor the effectiveness of existing compensation practices and recommend cost-effective changes consistent with compensation trends and BoJ pay philosophy.
  • C&B Leadership: Lead and manage compensation & benefits-related issues at BoJ.
  • Holistic Compensation Review: Review the compensation plan with a holistic view, including both monetary and non-monetary benefits.
  • EVP Support: Support HR in continuously identifying and communicating Employment Value Propositions (Talent Acquisition and Engagement of existing employees).
  • Best Practices Initiatives: Lead initiatives to introduce and maintain best practices, including benchmarking relevant policies and practices with similar organizations or market leaders.
  • Job Analysis & Alignment: Work with OD to ensure Job Analysis and Job Descriptions are up to date and aligned with the compensation scheme.
  • Compensation Advisory: Provide advice on pay decisions, policy interpretations, and job evaluations while reviewing and administering daily compensation-related requests.
  • Pension Management: Actively manage the company pension schemes and equivalent global local policies.

12. Global Compensation and Benefits Manager Additional Details

  • Trend Identification: Identify trends and implement new practices to engage and motivate team members.
  • Benefits Policy Design: Design, evaluate, and modify benefits policies to ensure programs are current, competitive, cost-effective, and in compliance with local regulations.
  • Cost Tracking: Report and track global benefits costs against relevant budgets.
  • Benefits Plan Implementation: Create, prepare for presenting, and roll out new and revised benefits plans globally.
  • Salary Benchmarking: Assemble and maintain salary benchmarking for key roles and locations, and assist with making salary recommendations for new hires.
  • Global Benefits Support: Act as the SPOC (Single Point of Contact) for team members and brokers worldwide regarding questions on benefit programs.
  • Handbook Maintenance: Develop and maintain local handbooks in all locations.
  • Global HR Projects: Participate in global HR projects and support international mobility administration processes, including visas and work permits.
  • Total Rewards Statements: Produce total rewards statements for global employees.
  • Benefits Documentation: Own all documentation related to enrolling employees into their benefits plans and maintaining and understanding their benefits coverage.
  • Salary Survey Oversight: Oversee participation in salary surveys and monitor salary survey data to ensure corporate compensation objectives are achieved.
  • Compensation Recommendations: Make recommendations to management on key decision points regarding compensation strategies.

13. Sr. Compensation and Benefits Manager Essential Functions

  • C&B Strategy Identification: Identify Compensation & Benefits strategies applicable to the type of deal structure, including asset purchase, stock purchase, Joint Venture (JV), or partnership.
  • Due Diligence Liaison: Serve as the lead liaison with Corporate Development to ensure comprehensive due diligence (DD) and integration planning.
  • Workforce Transition: Lead the transition of work from Professional Employee Organizations (PEOs) into the RA HR delivery model, addressing legal concerns on the contract workforce.
  • Costing Analysis: Develop and drive due diligence by providing C&B costing analysis (side-by-side), identifying gaps and potential risks for leadership.
  • Financial Risk Assessment: Focus on financial exposures that would be considered before RA closes a deal.
  • Data Review & Tracking: Review data rooms, conduct management interviews, collect and track requested information, and assess total costs, including HRIS needs.
  • Retention Strategy: Create retention strategies to keep key talent from acquired companies.
  • HR Best Practices Development: Responsible for developing HR best practices for processes utilized during all merger and/or acquisition initiatives, both domestic and international, continuously improving deal execution and integration processes.
  • HR Coordination & Risk Management: Ensure all HR efforts are coordinated, and operational HR risks are identified and addressed during due diligence and integration.
  • Strategic Consulting: Provide expertise, strategic consulting, and thought leadership to drive effective people strategies for each deal and influence deal negotiations accordingly.
  • Relocation Policy Management: Maintain the Relocation policy and coordinate with HR Managers to ensure consistency.
  • Process Improvement: Actively participate in the implementation of sustainable improvement processes, such as 5S, Kaizen, Daily Management Control, Standard Work, and Problem Solving.
  • COBRA & Retiree Medical Support: Assist with COBRA and Retiree Medical administration.

14. Compensation and Benefits Manager Role Purpose

  • Data Benchmarking: Responsible for understanding, collecting, and benchmarking competitive market data.
  • Automated Updates: Responsible for the development of annual automated updates of compensation benchmark data to the PeopleSoft system.
  • Salary Review Administration: Leads the annual salary review administration process.
  • Project Management: Develops project plan and calendar and provides updates to HR managers on outstanding items.
  • HR Tools & Compliance: Provides HR Business Partners with tools to ensure all salary adjustments, promotions, and compliance with compensation-established guidelines, policies, and practices.
  • Compensation Review: Review and sign off on ongoing compensation files, including plant program compensation reviews for approval.
  • Year-End Reporting: Coordinate with Vendor on Stock Plan management reporting and year-end reporting.
  • Program Development: Assist in the development of the program and ongoing administration.
  • Benefits & ACA Support: Assist employees with benefits administration and ACA administration.
  • Retirement Guidance: Guide employees on the retirement process and forward applicable retirement packets to employees.
  • Educational Assistance: Process educational assistance program forms and reimbursements based on MTI guidelines.
  • Monthly Reporting: Prepare monthly reports, including employee benefit contributions, stop loss, disability, etc.
  • Budget Tracking: Track budgets for all 3rd party vendors and benefits consultants.

15. Senior Compensation and Benefits Manager General Responsibilities

  • Payroll Compliance: Ensure monthly payroll practices comply with all audit requirements, including SOX and local regulations.
  • Compensation Analysis: Research and analyze compensation and benefits trends, programs, and policies, including participating in and reviewing compensation surveys that the Bank participates in and making recommendations where applicable.
  • Data Analysis: Compare benefit and compensation plans, job classifications, and salaries through data and cost analysis.
  • Payroll Management: Manage and process monthly payroll, including off-cycle payments.
  • Subject Matter Expertise: Act as the Compensation and Benefits subject matter expert and train staff.
  • Benefits Administration: Administer the organization’s benefits programs (e.g., retirement plans, Holiday & Christmas Funds, leave policies, wellness programs, insurance policies, etc.).
  • Regulation Monitoring: Monitor government regulations, legislation, and benefits trends, reviewing and amending policies.
  • Well-being Initiatives: Assist in the planning, development, implementation, and monitoring of company-wide total well-being initiatives in conjunction with various providers, including EAP and the Bank’s Health Insurance Provider.
  • Health Insurance Management: Manage the administration of the Bank’s health insurance plan, including health care enrollment and changes, and liaise with insurance providers to resolve any issues related to health claims.
  • Employee Support: Handle all employee inquiries on benefit plans and claims.
  • Pension Fund Administration: Responsible for the administration of the employee pension fund, the Wyvern Retirement Trust, including processing all subscriptions and redemptions.
  • Invoice Processing: Process monthly benefit invoices.
  • Communication Strategy: Implement a compensation & benefits communication strategy to create awareness and keep all stakeholders fully informed.
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