Compensation and Benefits Specialist

The Compensation and Benefits Specialist will report to the Head of Human Resources and help execute the company’s people strategy. This position will maintain employee records, manage the firm’s payroll process, including the calculation of commissions, and administer the firm’s benefits. In addition, the Compensation and Benefits Specialist will assist with compliance, reporting, and broader HR initiatives. This position is based in the Richmond, Virginia corporate office.

Position Responsibilities and Essential Job Duties

Ensure compliance with all relevant federal and state laws and regulations regarding benefits, including ERISA, COBRA, HIPAA, ACA, and FMLA.

Ensure integrity of all employee data records to include compensation, benefits, and performance management.

Maintain current employee compensation records and benefit enrollments.

Lead payroll process, capturing all employee compensation, benefit, leave and other changes that could impact an employee’s pay.

Perform complex commission payout calculations for financial advisors and enter the monthly commissions and over-rides into payroll.

Review semi-monthly and off-cycle payrolls, quarterly and year-end reports for accuracy and required reporting.

Research and analyze compensation trends, competitive pay practices, and market compensation to help the firm remain competitive.

Manage the annual open enrollment process and educate employees regarding benefits programs during employee onboarding.

Administer firm-wide employee benefits programs, including health, dental, vision, flexible spending accounts, life and disability insurance, 401(k) plans, and wellness initiatives.

Administer benefit plans in accordance with plan documents, policies, and federal and state laws and requirements.

Develop and maintain benefits communication materials and update the firm’s intranet accordingly.

Maintain compensation and benefits records required by federal, state, and provider rules, regulations, and policies.

Ability to partner with third-party administrators and vendors to administer benefits

Verify 401k contributions, match withdrawals, and research differences between payroll and 401k website.

Review and reconcile monthly benefits invoices for enrollment accuracy.

Perform annual W-2 testing and help with annual audits and filings related to employee benefits and compensation.

Help with broader human resources initiatives as needed.

Collaborate with Accounting on General Ledger impact related to employee setup in HRIS and other systems.

Professional Skills and Experience

2+ years of human resources experience with responsibilities in the areas of compensation or benefits programs.

Knowledge of pay practices and HR information systems and benefit platforms.

Knowledge of employment laws and regulations, particularly those related to compensation, benefits, and retirement plans.

Proficiency with Microsoft Office Products – Power Point, Excel, Word, Outlook.

Bachelor’s degree in Business, Finance, Human Resources or related field.

Personal Attributes

Excellent verbal and written communication skills.

Ability to represent the firm in a positive, professional manner to employees and business partners.

Excellent organizational skills, attention to detail and accuracy, and follow-through.

Strong analytical and problem-solving skills.

Ability to manage sensitive and confidential situations with tact, professionalism, and diplomacy.

Ability to collaborate effectively with others at all levels of the organization.

Flexibility and willingness to help in other areas as priorities shift.

Positive attitude and willingness to learn.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status.