Job Information
First Mutual Holding Co Benefits and Compensation Specialist in Lakewood, Ohio
Apply Job Type Full-time Description Position Summary: The Benefits and Compensation Specialist is responsible for the management and administration of employee benefit and compensation plans. Ensures accurate record keeping, program compliance and excellent communications. Works closely with HR team to align all plans and processes with strategic direction and day-to-day operations. Duties and Responsibilities: Administers all welfare benefit plans [medical, dental, life, disability, etc.]. Thoroughly understands benefit plans, documents, and processes. Responds to employee/leadership inquiries and change requests. Manages all benefit enrollments and election changes including new employee enrollment, special enrollment and annual open enrollment processes. Ensures accurate/timely approval, reporting and correspondence with employees and providers. Collaborates with various stakeholders (recruiting, employee relations, HR systems, supervisors, payroll, accounting, etc.) to assure accuracy and alignment. Administers retirement plan enrollments, terminations, contribution changes, employer matches, and loan payments. Handles annual and ongoing compliance/reporting steps. Collaborates closely with finance team to ensure proper funding and record keeping. Maintains, stores and communicates benefit plan documents and records. Updates and monitors HRIS system to ensure accurate plan documents and EDI file feeds with providers. Assures data security and integrity across all systems. Administers leave of absence programs including FMLA, short-term and long-term disability, parental leave, workers compensation, and ADA. Maintains close contact with employees/supervisors and ensures compliance with federal, state and local laws and regulations. Develops and executes employee communications related to benefit and leave of absence programs including distribution of mandated benefit compliance information. Tracks and promotes all supplemental, discretionary and fringe benefits including but not limited to Employee Assistance Program, parking reimbursement, fitness center benefits, and tuition reimbursement programs. Works with business leaders to create and update job descriptions, complete job evaluations and compensation analysis. Presents recommendations to business leaders regarding career levels, salary grades and compensation targets and partners, with involvement from manager in more complex reviews or on more senior levels roles. Recommendation includes career level, salary grade and compensation targets when appropriate. Maintains all records and reports related to company compensation strategy, pay structure, and job descriptions. Ensures timely and accurate tracking updates and changes to each. Provides assistance with administering incentive/commission plans. Partners with Finance, Human Resources, Risk Management and Business Executives in the review, edit and track incentive/commission plans. As directed, supports annual performance/compensation processes. Completes analytics and presents findings to HR partners and business leaders. Builds relationships and works closely with brokers, carriers, administrators and other advisors on the administration of benefit and compensation programs. Understands and serves as subject matter expert related to vendor services, fees, and timelines. Keeps up to date on benefit and compensation best practices. Maintains awareness and ensures compliance with employment, benefit and compensation legislation. Complies with all applicable banking laws and regulations, including, but not limited to the Bank Secrecy Act, USA Patriot Act, and related anti-money laundering statutes, and federal consumer protection legislation and regulations. Other Duties as assigned. The duties outlined above are a summary and may not be an exhaustive or comprehensive list of all possible responsibilities, tasks, and duties