Compensation, Benefits & Payroll Manager

Island Finance; San Juan (PR); On-site; USD 80,000 - 100,000; Full time

Benefits offered by this job

Wellness Program

401(k) Savings Plan

Employee benefit programs

Job summary

Island Finance in San Juan is seeking a managerial professional in compensation and benefits with over 5 years of experience. You will develop competitive salary structures, ensure regulatory compliance and lead employee benefit programs.

Ideal candidates are bilingual, have expertise in HRIS systems, and possess strong analytical and communication skills. The role includes managing payroll processes and adhering to local and federal regulations.

Qualifications

• 5 to 10+ years of progressive experience in compensation, benefits, payroll administration.
• Extensive knowledge of local and federal employment laws.
• Professional certifications preferred (SHRM-SCP, CCBP).

Responsibilities

• Manage the company's compensation programs, developing competitive salary structures.
• Ensure payroll compliance and efficiency through HRIS platforms.
• Administer employee benefits and ensure adherence to regulations.

Skills

Bilingual in English and Spanish

Advanced knowledge of HRIS systems

Strong analytical skills

Excellent verbal and written communication skills

Advanced proficiency in Microsoft Excel

Education

Bachelor's degree in Human Resources, Business Administration, or Finance

MBA or Master's in Human Resources

Tools

Workday

ADP SmartCompliance

Job description

Island Finance LLC is the largest financial institution in Puerto Rico with over 66 years of service. We serve more than 70,000 clients with consumer loans, a variety of financial products and services, and a distribution network that includes 46 branches, a call center, and an advanced Internet banking service (www.islandfinance.com).

General Job Summary

• Managerial professional and subject matter expert in compensation, benefits, and payroll who works closely with the Human Resources Director and senior leadership (CEO and Compensation Committee) to manage the company's total rewards strategy. This includes compensation, benefits, incentive programs, wellness initiatives, leave administration, and direct payroll-related matters, with a focus on attracting, motivating, and retaining top talent while ensuring financial sustainability and regulatory compliance.

Essential Functions

• Responsible for the company's compensation programs, including developing and managing compensation strategies through the design of competitive salary structures, implementing internal equity plans aligned with organizational objectives, and monitoring market trends to balance internal equity with external competitiveness.
• Serve as the company's payroll subject matter expert, ensuring execution, monitoring, regulatory compliance, and operational efficiencies through systems such as Workday (WD) and ADP SmartCompliance.
• Expert in all phases of payroll processing and ensures regulatory compliance and operational efficiency through HRIS platforms such as Workday and ADP SmartCompliance. Audits and manages payroll processes in accordance with company policies and federal and state regulations, ensuring accurate and timely payroll processing for all employees.
• Ensure compliance with all local and federal regulatory reporting requirements, including quarterly and annual filings; payroll reporting, tax filings, SINOT reports, local and federal unemployment filings, Driver's Insurance reporting, tax returns, and other required submissions. Oversees annual regulatory requirements such as W‑2 issuance, Social Security reporting, and related compliance obligations.
• Manage the company's leave administration program in full compliance with local and federal laws and regulations, including OSHA local and federal annual reporting requirements (ITA submissions).
• Manage the company's Human Resources budget, allocate funds, and provide expense justifications for HR‑related accounts. Identify financial trends and compile monthly accrual data related to salary and benefits accounts. Prepare absenteeism statistics and monitor attendance trends for presentation to HRIS and leadership for appropriate action. Oversee vacation accrual monitoring, payroll reserves, payroll trends, annual statutory renewals (e.g., SUI, FUTA, SINOT, FSE), and quarterly and annual tax filing processes.
• Administer employee benefit programs in full compliance with local and federal regulations, including the company's 401(k) Savings Plan. Participate in the 401(k) Plan Committee and conduct quarterly reviews of retirement and investment plans. Oversee nondiscrimination testing, true‑up calculations, annual audits, Form 5500 filings, and Summary Annual Report (SAR) communications. Coordinate and submit Form 5500 and SAR filings for employee benefit plans.
• Participate in quarterly medical plan reviews, benefit contract renewals, and annual enrollment processes. Manage the company's Wellness Program in partnership with the medical plan provider and Fulcro, focusing on the development and execution of annual employee wellness initiatives.
• Lead community engagement programs such as Back‑to‑School initiatives, Annual Health Awareness Campaigns, and activities supporting senior citizens.

Other Duties And Responsibilities

• Serve as back‑up for payroll processing within Workday.
• Perform other related duties as assigned.

Position Requirements

Education

• Bachelor's degree in Human Resources, Business Administration, Finance, or a related field.
• Advanced degrees preferred (MBA, Master's in Human Resources, or related disciplines).
• Professional certifications preferred, including SHRM‑SCP and/or Certified Compensation and Benefits Professional (CCBP).

Experience

• 5 to 10+ years of progressive experience in compensation, benefits, payroll administration, and regulatory compliance.
• Extensive knowledge of applicable local and federal employment laws and regulations.

Technical Knowledge And Skills

• Training and/or certifications in compensation, benefits, and payroll administration.
• Experience with Human Resources Information Systems (HRIS), preferably Workday and ADP SmartCompliance.
• Experience managing external vendor platforms and portals (e.g., COBRA, Triple‑S, Delta Dental, State Insurance Fund, Inspira, Empower).
• Ability to communicate complex and non‑complex financial information to diverse audiences.
• Strong knowledge of local and federal laws affecting payroll, benefits, and human resources.
• Advanced proficiency in Microsoft Office Suite, especially Excel.
• Extensive knowledge of labor and employment laws.
• Fully bilingual in English and Spanish, both written and verbal.
• Compensation, payroll, and/or benefits certifications are highly desirable.

Competencies

• Strong analytical and strategic thinking skills.
• Advanced knowledge of HRIS systems and Microsoft Office applications, especially Excel.
• Practical knowledge of statistical analysis.
• Thorough understanding of compensation systems and methodologies.
• Strong organizational and project management skills.
• Ability to clearly understand and support the company's strategic objectives.
• Exceptional attention to detail.
• Excellent verbal and written communication skills.
• Ability to analyze complex financial data and translate findings into compensation and rewards strategies.
• Ability to balance cost efficiency with employee satisfaction.
• Strong understanding of labor market trends, macroeconomic data, and workforce analytics.
• Data‑driven problem‑solving approach.
• Effective leadership skills.
• Strong negotiation and influencing abilities.
• Sound decision‑making capabilities.
• Flexibility and adaptability.
• High ethical standards, confidentiality, discretion, and professionalism in handling sensitive information.

Equal Opportunity Employer

Island Finance is an Equal Opportunity Employer.