A Compensation or Benefits Specialist evaluates and works to maintain the pay structure and benefits program at an organization. Analyzes wage and salary data and trends, monitors market conditions; works with benefits vendors, processes benefit claims for employees; monitors government employment regulations. May focus specifically on job classifications and compensation or on benefits programs such as pensions.
Join a well-established and highly regarded financial institution with a strong reputation in the Madison market. Competitive compensation package including base salary, annual bonus, retirement benefits, and comprehensive healthcare coverage. Hybrid work flexibility and strong commitment to work-life balance. Collaborative culture focused on employee development, engagement, and long-term career growth.
Key Responsibilities:
Payroll Administration Own the end-to-end payroll process, ensuring timely and accurate payroll processing for all employees. Serve as the subject matter expert for payroll systems, payroll policies, and related processes. Coordinate payroll-related audits, reconciliations, reporting requirements, and year-end processing activities. Benefits Administration Administer employee benefits programs, including medical, dental, vision, life insurance, disability, retirement, and wellness offerings. Coordinate annual open enrollment and manage qualifying life event changes throughout the year. Serve as the primary point of contact for employee benefit inquiries, providing guidance on eligibility, coverage, and plan provisions. Build and maintain strong partnerships with benefit carriers, brokers, and third-party administrators. Ensure timely and accurate transmission of employee deductions and employer contributions. Monitor benefit plans and vendor reporting to ensure compliance with applicable regulations, including COBRA, HIPAA, ERISA, and other relevant requirements. Manage leave administration processes, including FMLA and other protected leave programs. HRIS & Compensation Support Act as the internal expert for HRIS functionality, reporting, and employee data management. Support compensation administration processes, salary planning initiatives, and market data resources. Manage employee status changes, compensation updates, and organizational changes within HR systems. Generate reports and analytics to support HR and business decision-making.
Qualifications:
3+ years of payroll and benefits administration experience, preferably within banking, financial services, professional services, or other highly regulated environments. Strong knowledge of payroll processing, benefits administration, leave management, and compliance requirements. Experience working with HRIS platforms, payroll systems, and Microsoft Excel. Understanding of COBRA, HIPAA, ERISA, FMLA, and related employment regulations. #
