Benefits, Payroll & Compliance Analyst

Benefits, Payroll & Compliance Analyst

General Summary:

Maintains,
analyzes and processes all aspects of FHLB's benefit programs in compliance
with established policies and within regulatory requirements. Maintains and processes all aspects of FHLB's
payroll and related reporting in compliance with established policies and
within regulatory requirements. Coordinates and submits information related to
the department's compliance efforts including: Vendor Management, Records
Management, End User Computing, and Business Resumption.

Principal Duties and
Responsibilities:

Benefits

• Manages the day-to-day activities for all employee benefit plans including employee benefit enrollments/terminations, vendor needs or issue resolutions, and annual enrollment planning.
• Reconciles and analyzes benefit invoices, ensures accurate accounting of monthly benefit costs and balances, and submits for payment or wires for all plans. Analyzes the medical reserve spreadsheet for periodic adjustments as needed and submits the annual earnings report to the defined benefit vendor (Pentegra)
• Responsible for retiree benefits and COBRA like benefit enrollments. Interacts with retirees and former employees on benefit issues and payments. Maintains the direct payer platform for billing of applicable benefits.
• Maintains knowledge of benefit programs and applicable laws and regulations, and coordinates with management on recommended or needed changes. Analyzes and monitor trends within the internal and external benefits and payroll environments.
  

Payroll

• Maintains and processes the Bank's payroll including: monitoring timecards for approvals, processing adjustments to wages, processing and importing of parking and transit as well as other reimbursement transactions from Concur, monitoring of paid time off balances, benefits and other deductions. Maintains employee payroll records. Manages the payroll cycle work flow to ensure all payroll transactions are processed and reconciled through GL.
• Interacts with payroll vendor to resolve problems. Interacts with Bank employees, managers and external sources on a variety of subjects including payroll policies, computation of pay, audits, taxes, and garnishments.
• Maintains knowledge and ensures management is apprised of changes to local, state and federal authorities that govern payroll and payroll taxes. Organizes and reviews forms associated with these authorities, such as W-2s.Ensures payroll tax and workers' compensation premium payments are made timely and accurately.
  

Compliance

• Coordinates with vendors and internal departments to gather and submit documentation for FHLB's vendor management program.
• Maintains and modifies as needed EUC spreadsheets used by the department. Participates in the department's records management and business resumption efforts
  

Other

• Assists in special projects in all areas as assigned by management.
• Other duties as assigned

Minimum Knowledge,
Skills and Abilities Required:

• Knowledge at a level normally acquired by completion of a bachelor's degree in business or comparable experience. Payroll or benefit certification is preferred.
• Minimum of five years of experience in progressively responsible positions within benefits or payroll.
• Broad knowledge of benefit, payroll, and HR systems, including comprehensive understanding of the process for recording, classifying and summarizing financial and payroll transactions. Experience with ADP Workforce Now, Fidelity PSW, and Concur is preferred.
• Analytical skills necessary to develop, analyze, and interpret reports to support department needs. Strong PC skills and preferably an advanced knowledge and experience with Excel.
• Interpersonal skills necessary to interact effectively with FHLB staff, external contacts, and customers in a professional manner; ability to handle sensitive and confidential information.
• Ability to work independently, pay close attention to detail under tight deadlines, and manage multiple assignments.
• Demonstrates a commitment to diversity and inclusion. Promotes an environment of empathy and respect, ensures the inclusion of all team members, and will actively engage in D&I events and learning opportunities.

Working Conditions:

Normal
office environment with flexibility to meet changing deadlines.