Compensation and Benefits Administrator

JOB SUMMARY:
To coordinate and administer the functions of the human resources department in providing equitable compensation for all employees and the best benefits possible within the parameters of the company's resources.

ESSENTIAL FUNCTIONS:

1. Supervises the ongoing maintenance of all employee job descriptions. Consults with supervisors and department heads to record changes in duties. Works with them to write descriptions for hires in new staffing positions. Reviews grade levels to be sure they reflect all changes.
2. Keeps abreast of overall level of compensation by reading journals and financial newspapers to be sure company is maintaining pay scales according to current economic conditions and competitive conditions within the area labor market.
3. Reviews incentive compensation plans in use within industry to see if altering provisions would improve incentive and morale among employees.
4. Administers employee benefit program including life, disability, and health plans, 401(k) plan, personal savings plan, and deferred compensation programs.
5. Supervises preparation of employee census annually to get quotes from insurers and providers of health benefits. Selects appropriate carriers on basis of quotes, benefits offered, and previous company experience. Determines if changes in coverage should be made and whether cost sharing between company and employees can continue at the same level.
6. Reviews and analyzes reports of administrators and insurance carriers to ensure that their duties are carried out correctly.
7. Complies with the provisions of COBRA, HIPAA, and ERISA and supervises filing of reports with state and federal agencies. Reviews Internal Revenue filings prepared by the accounting department.
8. Reviews payroll records to ensure that employee deductions are made accurately, and checks to ensure that these and company contributions are forwarded to carriers and administrators in a timely manner.

ADDITIONAL RESPONSIBILITIES:

1. Performs other allied duties as assigned by supervisor.

KNOWLEDGE, SKILLS, AND ABILITY:

1. Bachelor's degree in business, finance, or human resources with a minimum of five years of experience in administering compensation or benefits programs.
2. Excellent management and analytical skills.
3. Thorough knowledge of the employee benefit and compensation field.
4. Sufficient accounting background to review administrators' reports and to check IRS filings in detail.
5. Computer skills including Word, Excel, and company's accounting package.
6. Thorough understanding of requirements of COBRA, HIPAA, ERISA, and IRS rules on pertinent benefit programs.