Compensation Benefits Manager

Biz2Credit; New York (NY); On-site; USD 95,000 - 115,000; Full time

Job summary

A leading financial services company is looking for a Compensation and Benefits Manager in New York, NY. The role involves maintaining compensation data, managing payroll, and administering benefits programs. Candidates should have a Bachelor's degree, at least four years of relevant experience, and strong analytical skills. This full-time position offers a competitive salary range of $95,000.00 - $115,000.00 per year.

Qualifications

• Minimum four years’ experience in compensation and benefits management required.
• Strong knowledge of compensation and benefits strategies, trends, and best practices required.
• Experience in financial services is preferred.

Responsibilities

• Maintain employee compensation data and manage payroll processing.
• Administer employee benefits programs and ensure compliance with regulations.
• Analyze compensation and benefits data and provide reports to management.

Skills

Analytical skills

Problem-solving

Communication skills

Attention to detail

Organizational skills

Advanced Excel skills

Education

Bachelor's degree

Certification in Compensation (CCP) or Benefits (CEBS) preferred

Tools

Paychex

Paylocity

ADP

Job description

This range is provided by Biz2Credit. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

Base pay range

$95,000.00/yr - $115,000.00/yr

Direct message the job poster from Biz2Credit

About the Role

The Compensation and Benefits Manager is responsible for delivering, implementing, and maintaining our compensation and benefits programs. This role ensures that compensation and benefits programs are competitive, equitable, and aligned with industry standards while also supporting organizational goals and growth initiatives. The ideal candidate is organized, enjoys working with numbers, and has a customer-service mindset to support employees with payroll-related questions.

Key Responsibilities

Compensation

• Maintain employee compensation data within HRIS/payroll systems, ensuring timely updates for merit increases, promotions, transfers, and market adjustments.
• Manage semi-monthly payroll processing.
• Collect and review employee data (new hires, terminations, compensation changes, deductions, etc.) for payroll accuracy.
• Prepare payroll files and coordinate with payroll vendors for timely submission and funding.
• Manage a competitive compensation structure that aligns with organizational goals and promotes internal equity
• Conduct market analysis and benchmarking to ensure that compensation packages remain competitive and compliant with industry standards
• Oversee the annual salary review process, ensuring consistency, fairness, and transparency in pay adjustments
• Develop and maintain job descriptions and classification systems to ensure accurate job evaluation and compensation recommendations
• Guide on compensation-related issues, including merit increases, bonuses, and incentive programs

Benefits Management

• Manages and administers employee benefit programs, including health, dental, vision, retirement, leave, and wellness benefits
• Lead benefits open enrollment, employee education, and vendor/carrier management
• Ensures compliance with regulatory requirements, including ERISA, FMLA, HIPAA, and ACA
• Evaluates and recommends improvements to the benefits package to enhance employee satisfaction and retention
• Assess and recommend enhancements to benefits offerings to support retention and employee well-being

Compliance & Best Practices

• Stays up to date on federal, state, and local regulations related to compensation, benefits, and employment law
• Ensures the company remains compliant with all applicable laws and industry standards
• Recommends and implements best practices to drive continuous improvement in compensation and benefits programs

Employee Communication & Education

• Serve as subject matter expert, guiding employees and managers on compensation and benefits
• Develop clear communication materials (total rewards statements, benefit guides) to enhance employee understanding and engagement
• Facilitate informational sessions or workshops on compensation and benefits programs
• Partner with Finance and Legal teams to resolve issues efficiently

Data Analysis & Reporting

• Analyzes compensation and benefits data to identify trends, assess program effectiveness, and recommend improvements
• Develops and maintains reports on compensation and benefits data to inform management decision-making
• Provides periodic updates and insights to senior leadership on compensation-related metrics and program performance
• Manage quarterly and year-end processes including W-2s and other filings

Qualifications

• Bachelor’s degree required or a minimum of six years directly related experience required
• Minimum four years’ experience in compensation and benefits management required
• Strong knowledge of compensation and benefits strategies, trends, and best practices required
• Certification in Compensation (CCP) or Benefits (CEBS) preferred
• Experience in financial services
• Familiarity with multi-state payroll including knowledge of payroll laws and compensation principles

Skills & Abilities

• Excellent analytical and problem-solving skills with the ability to interpret complex data and make recommendations
• Strong understanding of compensation structures, benefits programs, and labor laws (ERISA, FLSA, ACA, etc.)
• Proficient in compensation and benefits software (e.g., Paychex, Paylocity, ADP)
• Advanced Excel skills required
• Exceptional communication skills, with the ability to communicate complex information clearly and effectively
• Strong attention to detail, organizational skills, and the ability to manage multiple priorities in a fast-paced, growing environment

Seniority level

• Associate

Employment type

• Full-time

Job function

• Human Resources
• Industries: Human Resources Services

New York, NY

Notes: This description excludes job postings, referrals, and alerts irrelevant to the role.