COMPENSATION & BENEFITS MANAGER
The Compensation and Benefits manager is responsible for designing programs in the areas of compensation and benefits and overseeing the day-to-day operations of compensation, benefits and HR compliance functions. In addition, provides guidance and coaching on the interpretation and implementation of policies related to compensation, benefits and other HR programs.
Key Result Areas
Compensation & Benefits
- Lead and coordinate the design, review, and administration of short-term and long-term incentive compensation programs. Administer base salary programs (i.e., job analysis, job evaluation, merit and promotions) to ensure base compensation is determined fairly and consistently based on valid role and performance information.
- Under the direction of the SVP, Human Resources, administer the Bank’s compensation related programs (MLO compensation, consultant work, LTI, Deferred Compensation, SERP, Employment Agreements and Director Benefits).
- Oversee the annual Bank’s Incentive Plan payout for CSB. Configure HR systems to accommodate plan changes and ensure compliance of plan documents. Oversee the management of the Benefit programs. Ensure programs are competitive and continue to meet the Bank’s goals and initiatives.
- Manage the daily administration of all benefit plans, reconcile issues and audit the benefit system for accuracy.
- Improve communication, education and transparency on all HR and Total Rewards programs.
- Drive process and systems improvements which streamline/automate program administration.
- Analyze, review and assess the effectiveness of Total Rewards programs to ensure objectives are being met and recommend/implement changes as appropriate, such as opportunities to consolidate, eliminate and/or develop new or revised compensation policies and programs to support competitive market practice.
- Remain current on industry compensation and benefits practices and changing legal issues, assessing and communicating potential impact on the business, along with providing recommendations/solutions to address any concerns. Oversee market research/analysis to determine or support changes in current pay plans/programs to remain competitive in our markets and ensure internal consistency.
- Perform FDICIA testing and weekly payroll preprocessing reviews as part of payroll processing.
- Ensure Bank's compliance with state and federal regulations affecting Human Resource practices and policies (i.e. EEO, Equal Pay Act, COBRA, ERISA, ADA, FMLA, HIPAA compliance etc.). Maintaining appropriate documentation and reporting schedules.
- Evaluate and make recommendations for human resource policy and procedural changes to SVP/ Human Resources, including GT, procedures and disaster recovery. Act as the HR Team Leader for the Bank’s Disaster Recovery Plan.
- Oversee the management of the HR, benefits and salary budget plan. Act as the liaison with the Accounting department and the MPC budget system.
- Responsible for gathering and preparing data and/or reports (compensation, benefits or policy changes) for Board meetings, executive management.
- Assist with the development of the HR Business Plan that aligns HR initiatives with the Bank’s strategic goals.
- Represent the Bank as required in community activities.
- Perform additional duties as required.
- College degree, preferably in Human Resources and/or Education.
- Minimum 7 years' human resources experience: proficiency in compensation, benefit and payroll administration.
- Minimum 3 years’ management/ supervisory experience.
- Ability to make thoughtful judgments concerning the abilities of others and their appropriateness to the Bank's needs and requirements.
- Strong communication and interpersonal skills, including platform/training skills.
- High level of proficiency in MS Office, specifically Excel, is required.
- Experience with HRIS applications and compensation tools.
- Ability to handle diverse work responsibilities and stressful work environment.
- Ability to maintain confidentiality.
- Ability to accept responsibility and work independently.
- Ability to collaborate effectively with all levels of personnel.
The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities the inclusion of which would be in conformity with the major purpose of this job.