Manager of Compensation & Benefits
Dallas, TX 75251 US
Manager of Compensation & Benefits [Direct Hire]
Base Salary $120K
Monday – Friday 8 am – 5 pm
Location: Dallas, TX
We are excited to seek a Manager of Compensation and Benefits for a fantastic direct-hire opportunity for a Dallas area client.
Manage the design, implementation, development, administration, communication, and ongoing evaluation of company’s compensation and benefits programs, policies, and procedures. Ensure that the compensation and benefits programs support the company’s business objectives and meet all legal requirements. The Compensation & Benefits Manager will oversee the entire spectrum of Total Rewards at the company including market survey participation, job evaluation, salary structure development, base pay administration, incentive plan design and analysis, health, and welfare plans, defined contribution plans, and managing broker and other 3rd-party relationships.
Essential Duties & Responsibilities:
- Create, implement, monitor, and update employee pay, and benefits plans to keep them competitive and legally compliant.
- Continually review current wage rates, federal and state regulation changes, and competitor’s compensation programs.
- Streamline compensation policies, programs, and procedures with the company’s HR vision and overarching objectives.
- Confer with HRBP leads and company leaders to evaluate new compensation, compliance, and benefits demands and prepare detailed job descriptions.
- Administer the annual merit, bonus, and stock option award programs.
- Complete all mandatory reporting required as dictated by state and federal requirements.
- Research employee benefits plans and vendors to identify those that present the best value.
- Design, recommend and implement new benefits programs. Examine possible plan designs and benefits cost changes.
- Negotiate with vendors and administrators for best plans, options, and rates.
- Serve as primary contact for plan vendors and third-party administrators.
- Coordinate transfer of data to external contacts for services, premiums, and plan administration.
- Evaluate and revise internal processes to reduce costs and increase efficiency.
- Communicate and administer the annual enrollment process
- Document and maintain administrative procedures for assigned benefits processes.
- Ensure compliance with applicable government regulations. Ensure timeliness and accuracy of required reporting and fees.
- Coordinate daily benefits processing. Handle enrollments, COBRA, terminations, changes, beneficiaries, disability, accident and death claims, rollovers, QDROs, QMCSOs, distributions, loans, hardships, and compliance testing.
- Oversee maintenance of employee benefits files, maintain group benefits database and update employee payroll records.
- Gather employee data and oversee the processing of monthly billings and the preparation of vouchers for payment of administrative fees for all group plans.
- Allocate group health and dental claims monthly and review quarterly.
- Audit the accuracy and performance of functions performed by benefits staff.
- Analyze current benefits, evaluating the use, services, coverage, effectiveness, cost, plan experience and competitive trends in benefits programs, and identify the company's stance.
- Perform plan audits. Prepare, collect, and organize data for actuarial assessments. Review data in conjunction with actuarial evaluation task forces.
- Review both short and long-range cost estimates/projections and relevant statistical analyses regarding modifications in benefits programs and implementation of new programs.
- Survey industry trends. Complete benefits surveys and review information obtained from the results. Analyze complex benefits information. Forecast trends and assist with future benefits designs. Develop specific recommendations for review by management.
- Monitor administrative costs of benefits programs and recommend cost containment strategies, including alternative methods for administration and funding. Prepare budgetary recommendations and assist in the monitoring, verifying, and reconciling of budgeted funds.
- Provide customer service support to internal and external customers. Develop communication tools to enhance understanding of the company's benefits package.
- Design and distribute materials for benefits orientations, open enrollment, and summary plan descriptions.
- Perform other related duties as assigned.
- Strong analytical and problem-solving skills and ability to interpret data
- Excellent organizational skills and attention to detail
- Proficient with Microsoft Office, especially Excel
- Excellent verbal and written communication skills
- Excellent interpersonal and customer service skills
- Ability to lead a team and achieve results through others
- Experience creating C-level presentations on pay and benefits
- Experience working with C-level executives
Education and/or Experience:
- 10 years of progressive compensation and benefits management experience
- Experience administering self-insured benefits models
- Knowledge of all federal, state, and local regulations and compliance requirements related to employee compensation and benefits
- Experience communicating and managing equity plans
- Experience managing compensation and/or benefits projects to completion
- At least 2 years managing employees
- Experience designing, implementing, and managing incentive plans
- Ability to act with integrity, professionalism, and confidentiality