The Compensation & Benefits Manager is responsible for developing, implementing, and managing the company's compensation and benefits programs to attract, retain, and motivate employees. This role involves ensuring competitive salary structures, comprehensive benefits packages, and compliance with relevant laws and regulations. Ensure proper administration of payroll & employees filing system
Key Responsibilities:
Compensation Strategy:
- Develop and implement compensation strategies that are aligned with the company's business goals and competitive practices.
- Conduct regular benchmarking and market analysis to ensure competitive pay structures.
- Design and manage incentive plans, bonus programs, and salary increase processes.
Benefits Administration:
- Oversee the administration of employee benefits programs including health insurance, and other wellness initiatives.
- Evaluate and update benefit programs to ensure they are cost-effective and aligned with employee needs.
- Manage relationships with benefits providers and negotiate contracts to ensure optimal service and cost efficiency.
- Compliance and Governance:
Payroll Management:
- Oversee the entire payroll process to ensure accurate and timely payment of salaries, wages, bonuses, and other compensation.
- Maintain and update payroll records, including employee data, pay rates, deductions, and benefits.
- Ensure compliance with federal, state, and local payroll laws and regulations.
Personnel Administration:
- Manage personnel records, ensuring accuracy and confidentiality of employee information.
- Oversee employee onboarding and offboarding processes, including documentation and orientation.
- Maintain up-to-date records of employee benefits, leave balances, and other personnel-related data.
Process Improvement:
- Identify and implement process improvements to enhance efficiency and accuracy in payroll and personnel management.
- Evaluate and recommend payroll and HRIS systems to streamline operations.
- Develop and update policies and procedures related to payroll and personnel functions.
Data Management and Reporting:
- Maintain accurate and up-to-date records of compensation and benefits data.
- Prepare and present reports on compensation and benefits metrics to CPO.
- Analyze data to identify trends and make recommendations for improvements.
Employee Communication and Support:
- Provide guidance and support to employees on compensation and benefits-related queries.
- Develop and deliver communication plans to inform employees about compensation and benefits programs.
Qualifications:
- Education: Bachelor's degree in business administration, Finance, or a related field.
- Experience in Consumer Finance Industry is an Asset.
- Experience: Minimum of 9 years of experience in compensation and benefits, and payroll administration
