Payroll & Benefits Specialist

About the Organization

Capital Impact Partners is now part of the Momentus Capital Family of Organizations which includes Capital Impact Partners, CDC Small Business Finance, and Ventures Lending Technologies. Together, we work to ensure local leaders and communities have equitable access to the capital & opportunities they deserve. With a mission rooted in social impact, we support locally led solutions through our continuum of lending, impact investments, training programs, & technology programs. By joining our team, you will play a key role in how Momentus Capital is transforming the financial sector to help communities build health & generational wealth.

Position Summary

The Payroll & Benefit Specialist is responsible for performing HR-related duties on a professional level and works closely with senior HR management. This position carries out responsibilities in the following functional areas: payroll administration, benefits administration, onboarding, and employment law compliance. This role will have a primary focus of processing payroll for CDC Small Business and will serve as a backup processor for our other entities. The Payroll & Benefits Specialist reports to the Director of Human Resources.

Essential Responsibilities

Responsible for all aspects of the payroll process:

• Coordinate with the HR Coordinator with the preparation of all required documentation to support employee changes (new hires, promotions, merit increases, terminations, status changes, etc.).
• Maintain accurate data in HRIS
• Prepare semi-monthly payroll and corresponding reports for accounting and HR Manager review
• Process required reports (FSA, 401k, etc.) after payroll is transmitted.
• Process all federal and state agency notices (SUI Changes, etc.). Track and follow through on necessary resolutions indicated by payroll provider
• Register organization with state tax/sui agencies and ensure up to date compliance
• Review, prepare and approve W-2 reports annually
• Prepare annual merit increase spreadsheets and payroll calendars
• Prepare all garnishment calculations, paperwork and communicate information to employees

Benefits:

• Ensure timely and accurate FSA, 401k and HSA reports to carrier sites after each payroll.
• Maintain benefit elections, terminations and changes in HRIS and with benefit carriers
• Reconcile benefit invoices monthly
• Prepare HRIS for open enrollment, audits open enrollment entries between HRIS/Carriers
• Review and prepare 1095c/ACA reports annually
• Plan, deliver and attend wellness programs
• Coordinate with HR Manager on COBRA and Medicare notifications for group health plans
• Maintain knowledge of and analyzes government regulations, benefit program trends, and prevailing practices among similar organizations. Ensures compliance of benefits administration with federal and state laws, including IRS and Department of Labor regulations
• Updates 401k audit spreadsheet monthly
• Address benefits/payroll questions timely and conduct benefit presentations to ensure employees gain an understanding of benefit plans, enrollment provisions and how/when they are paid. Track submission of new hire benefit elections to ensure enrollment is completed within 30 days of hire

Audits/Reporting/HRIS:

• Implement and establish auditing systems, timelines and procedures to ensure quality and minimize errors
• Completes annual benefit audit comparing HRIS entry to carriers (insurance, 401k)
• Assist with preparing payroll documentation for accounting and 401k audits
• Files EEO-1 report annually; and maintains other records, reports and logs to conform to EEO regulations.
• Update Recruiting dashboard monthly with payroll stats
• Respond to requests from Accounting for payroll documentation
• Reports, maintains and monitors all workers' compensation case files; follows-up on open cases
• Reviews applicable HRIS System update notifications and trains HR staff on updates
• Prepares benefit census reports for insurance brokers

Professional Skills, Education and Experience

• High School Diploma or equivalent with 6 years of experience processing payroll, OR Bachelor’s degree with a minimum of 2 years professional work experience in payroll processing and benefits program management

• Experience with ADP WFN is required; Experience with TimeBank is a plus
• Must have current in-depth knowledge of HR, payroll technology – ADP Workforce Now, payroll processing, tax principles, wage and hour laws with 2-4 years of experience processing multi-state payroll including but not limited to VA, MD, NY, TX & CA.
• Strong knowledge of federal and state regulations.
• Strong PC skills including proficiency in Excel
• Ability to deal sensitively with confidential material
• Strong interpersonal (verbal and written) communication skills.
• Ability to communicate with various levels of management.
• Be a self-starter who can prioritize tasks and manage deadlines
• Decision-making, problem-solving, and analytical skills.
• Organizational, multi-tasking, and prioritizing skills.