Payroll & Benefits Specialist

Posted 4 Days Ago
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Chicago, IL
Hybrid
Senior level
Fintech • Financial Services
The Role
The Payroll & Benefits Specialist manages payroll, benefits, and HRIS processing, ensuring accuracy and compliance in payroll operations. Responsibilities include processing payroll, reconciling data, conducting audits, managing benefit programs, and acting as a liaison with employees and benefit carriers. This role requires close collaboration with HR and finance teams to deliver services effectively and support employees' needs.
Summary Generated by Built In

GENERAL SUMMARY:
The Payroll & Benefits Specialist will administer activities relating to CRSP payroll, benefits and HRIS processing including developing, implementing and monitoring the payroll system which will include performing internal audit and control procedures to ensure that all wages and taxes are accurate. The individual will be the company's subject matter expert with all payroll, benefits and HRIS administration. The role collaborates closely with the HR team to deliver excellent customer service to our employees.
PRINCIPAL DUTIES & RESPONSIBILITIES:
PAYROLL

  • Process bi-weekly and monthly payroll ensuring accuracy which includes researching and analyzing discrepancies and processing appropriate corrections.
  • Research and process payroll and benefit adjustment entries and will also review, reconcile and balance payroll and benefit data for payrolls. Additionally, reconcile payroll and benefit data with insurance carriers on a monthly basis.
  • Provide detailed information and documentation of payroll related issues as well as recommended solution to issues. Collaborate with the Director, Human Resources and CFO in compiling various data from the payroll system and interpreting legal requirements.
  • Work closely with employees to answer and resolve any payroll questions they may have. This includes helping employees interpret various payroll laws, rules, and policies and procedures.
  • Calculate timekeeping adjustments and process on-demand payroll checks as required.
  • Create, maintain, secure and destroy any employment records in accordance with Company, State and Federal laws. Process new hires, terminations, status changes, tax changes, deductions direct deposits, pay rate changes, garnishments and expense reimbursements in a timely fashion.
  • Complete year-end process including preparing W-2's for all employees in accordance with Federal and State regulations; ensure timely reporting to appropriate Federal and State Tax authorities.
  • Audit timekeeping data to ensure that it complies with existing policy, practices or contracts and applicable state and federal laws. Reconcile employee time off with absence notifications prior to downloading the UKG Employee Time File for each pay cycle.
  • Work closely with HR and hiring manager to onboard new employees, E-Verify and all new hire paperwork is completed in a timely fashion. Prepare and distribute (often in collaboration with the CRSP Communications team) written communications and notification to employees, ensuring employees are aware of any payroll-related changes (e.g. annual salary increases and probationary period increases), deadlines, training and instructions.


BENEFITS

  • Responsible for benefits administration including preparing benefit eligibility notices, tracking and assisting with new employee enrollment as well as submitting invoices for supplemental benefits for payment.
  • Responsible for conducting new employee orientation, which includes educating new employees on CRSP's benefits, the payroll experience, and using UKG.
  • Actively collaborate with CFO and Director, Human Resources on all Open Enrollment Activities including written communication, ensuring employees are aware of any changes to any plans as well as providing accurate enrollment information to providers. May also be responsible for entering various benefit information into our system of record.
  • Serve as CRSP's primary point of contact with benefit insurance carriers. Reconcile data between carrier employer portals and CRSP's HRIS solution (UKG Pro).
  • Prepare statistical reports and summaries from the HRIS system involving payroll and benefits information, performance management data, demographic and other employee data.
  • Recommend and assist in the development of new procedures as they relate to benefits and payroll.
  • Develop pay practices, procedures and documentation to ensure compliance with policies.
  • Process and calculate employee timekeeping Leave of Absence transactions in accordance to policy and Federal and State laws and regulations.
  • Responsible for meeting with employees who have requested a Leave of Absence to ensure they understand the benefit as well as ensure that their paperwork is completed correctly.
  • Update employee records with our COBRA administrator to provide timely notices regarding coverage, eligibility and benefits to ensure compliance.
  • Ensure compliance with the Affordable Care Act (ACA) by capturing and reconciling data for reports, classifying employees, preparing and filing Forms 1094-C/1095-C with the IRS and all applicable state agencies each tax year.
  • Work closely with employees to answer and resolve any benefit questions they may have. This includes helping employees interpret various payroll laws, rules, and policies and procedures.
  • Ensure all required benefits notifications and disclosures are provided to employees in the required timeline.
  • Collaborate with the CFO and Director, Human Resources on benefit program plan and premium design.


OPERATIONAL

  • Maintain knowledge of all pay practices, policies and procedures including all state and Federal laws that may impact Payroll and/or Benefits.
  • Provide data for auditors, local, state or federal agencies.
  • Maintain employee files in accordance with company and regulatory requirements.
  • Generate files/reports as the UKG report expert (Power BI) for CRSP and run annual non-discrimination testing for benefit plans, annual reports as well as other special and ad-hoc reports as requested.
  • May assist Human Resources occasionally.


REQUIRED KNOWLEDGE, SKILLS, AND EXPERIENCE

  • Bachelor's degree and a minimum of five (5) years relevant experience or an Associate's degree and a minimum of seven (7) years relevant experience.
  • At least five (5) years of experience administering payroll, HRIS and benefits processes. Experience must include knowledge of basic human resources principles, payroll practices, benefits administration and compliance. This includes demonstrated knowledge enrollment and eligibility rules and benefit procedures.
  • Strong knowledge of a variety of computer software applications including payroll, benefits, time & attendance, HRIS and self-service systems. Experience with UKG/UltiPro is strongly desired.
  • Demonstrated a high level of communication skills in order to handle sensitive and confidential situations.
  • Exceptional analytical skills and the ability to create useful and actionable reports from data using Excel.
  • Strong attention to detail and the ability to edit and proofread are critical for this position. Must also be able to respond quickly and accurately to requests for data.
  • Strong organizational skills and the ability to complete multiple tasks and a high volume of work often on very tight deadlines.
  • Possess a creative outlook with a problem-solving attitude and have excellent time management and follow-through skills.
  • Demonstrated customer service mindset in order to deal with employee questions as they arise.
  • Proficient in Microsoft Office applications.


PREFERRED KNOWLEDGE, SKILLS, AND EXPERIENCE

  • Two (2) years experience using UKG/UltiPro for payroll and benefits administration
  • Experience creating reports using Power BI.


LOCATION: 105 West Adams Street, 17TH Floor, Chicago, IL 60603
WORK SCHEDULE: Full Time - 8:30 a.m. - 5:00 p.m. normal working hours (3 days a week required to be in office).
WORK ENVIRONMENT:
Work is performed in a professional office environment. The noise level in the work environment is usually moderate.
PHYSICAL DEMANDS:
Sedentary Work: Exerting up to 10 pounds of force occasionally and/or a negligible amount of force frequently to lift, carry, push, pull or otherwise move objects. While performing the duties of this job, the employee is regularly required to communicate with others. The employee is frequently required to stand, walk, sit, demonstrate hand and finger dexterity in the course of their work, handle or feel, and reach with hands and arms. The employee is occasionally required to climb, balance, stoop, kneel, crouch or crawl.
Salary Range: $83,922.00 - $109,099 USD Annually + Benefits
The referenced salary range is based on the Company's good faith belief at the time of posting. Actual compensation may vary based on factors such as work experience, market conditions, education/training and skill level.

Top Skills

Benefits
Excel
Hris
MS Office
Payroll
Power BI
Ukg
The Company
HQ: Chicago, IL
100 Employees
Hybrid Workplace
Year Founded: 1960

What We Do

CRSP provides data of the highest integrity and transparency to ensure the strongest foundation for economic forecasting, stock market research and financial analysis conducted by academic organizations, investment banks, brokerage firms, corporations, and government agencies. Our data has led to the transformation of the world of finance.

Why Work With Us

Our culture is truly unique. We employ and engage with some of the brightest minds in finance and seek to encourage the dissemination of knowledge and expansion of the frontier of financial research in a professional environment committed to mutual respect and teamwork.

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Center for Research in Security Prices (CRSP) Offices

Hybrid Workspace

Employees engage in a combination of remote and on-site work.

Typical time on-site: Flexible
HQChicago, IL
Downtown Chicago with lots of good food options and after work fun. Close to several commuting stations.

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