Sr. Benefits Specialist

The Momentus Capital branded family of organizations – which includes Capital Impact Partners, CDC Small Business Finance, and Ventures Lending Technologies – is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems that have failed to address systemic issues of inequality, economic empowerment, and the widening racial wealth gap by offering a continuum of financial, knowledge, and social capital to help local leaders build inclusive and equitable communities and create generational wealth. This includes a comprehensive package of loan products, impact investment opportunities, training, and business advising programs, and technology services that advance locally-led solutions. Our suite of products and services, experience, and scope will foster equitable job creation, wealth building, and economic mobility.

Position Summary

The Senior Benefits Specialist reports to the Compensation and Benefits Director and is primarily responsible for the administrating and processing of employee benefits and day-to-day operations, which includes the processing of employee system actions. In addition, responding to employee questions, the coordination and maintenance of benefit enrollments, new hires, promotions, and terminations. The Senior Benefits Specialist will also analyze performance data, and suggest improvements or changes to the benefits packages that Momentous Capital offers. This role is required to ensure data integrity, test system changes, and the creation and maintenance of various reports to make sure all programs comply with the regulatory requirements of both state and federal law.

In addition, this role will serve as a payroll resource and collaborate with the Senior Payroll Specialist on benefit-related information for payroll processing and verification.

This role is remote and is eligible for an annual incentive.

Essential Responsibilities  

  • Performs routine and non-routine processes to ensure the accuracy and integrity of the benefits selection process and ensure proper internal controls are in place and operating effectively in all facets of benefits administration.
  • Ensure the implementation of the benefits program complies with regulatory requirements and state and federal laws.
  • Maintain benefits communication and education programs to enhance employee understanding and appreciation of benefit programs.
  • Coordinates and conducts benefits education, including New Hire and Open enrollment sessions.
  • Coordinates Open Enrollment process, including securing dates, setting up calendar invites, material updates and posting documents, posting open enrollment data audits, and reporting
  • Configures the online benefits enrollment system, ensuring accuracy through data testing and vendor management; ensures data integrity of benefit enrollments. 
  • Coordinates, plans, executes, and tracks Wellness program activities in collaboration with the Human Resources team and ensures budget responsibility.
  • Assists and resolves employee benefit questions and/or concerns by researching and following up with employees on a timely basis. Assist in troubleshooting basic employee benefit issues.
  • Assists and counsels employees with FMLA and ADA requests, ensuring legal compliance, proper tracking, and prompt follow-up. 
  • Maintains, reviews, and verifies the leave of absence process, including tracking full and intermittent leaves, coordinating with the payroll and time off database, and communicating and following up with third-party vendors as needed.
  • Prepares monthly HR newsletter content related to Benefits with relevant information for staff, including Wellness events, upcoming deadlines, monthly observations, etc.
  • Files and coordinates workers’ compensation program claims and inquiries for employees and vendors. 
  • Conducts regular audits to ensure data audits and reporting, material updates, and posting documents
  • Maintains the accuracy of benefits information on the intranet and other existing materials or bulletin boards.
  • Ensures the proper creation and/or updates to established SOPs (standard operating procedures) as they pertain to Benefits and HRIS processes. 
  • Responsible for quarterly and annual health and welfare plans, retirement plan audits, and reconciliations.
  • Prepare and audit monthly invoices and audit semi-monthly payrolls for new hire benefits and life status changes.
  • Ensure that employees’ needs are addressed in a timely manner.  
  • Acts as a key liaison to benefit vendors to ensure accurate and seamless administration of benefit plans.
  • Write, maintain, and support various reports, data requests, and queries utilizing appropriate reporting tools. 
  • Prepare reports and applications required by law to be filed with federal and state agencies.
  • In collaboration with the Senior Payroll Specialist,  complete compliance filings such as ACA, Medicare Part D, 1095-Cs, and other required compliance fillings, ensuring the organization is in compliance with federal and state laws, including reporting requirements.
  • Must keep abreast of legal changes with   benefits laws: HIPAA, COBRA, ACA, IRS, DOL, ERISA regulations
  • Maintains employee benefits files and documentation according to record retention schedule.
  • Serves as backup for payroll processing (Senior Payroll Specialist) and other HR administrative responsibilities as needed.
  • Responsible for payroll preparation and verification in collaboration with the Senior Payroll Specialist. 
  • Coordinates and prepares reporting and all benefit-related entries for each Payroll run. 
  • Works on special projects and other duties as required helping to promote the department’s success.
  • Other duties as assigned.

Requirements

        

  • High School Diploma or equivalent with 8 years of experience processing payroll, OR Bachelor’s Degree in Human Resources, Business Administration, or similar/and or equivalent experience.
  • A minimum of four (4) or more years of experience in benefits administration; payroll experience is a plus 
  • Must have current in-depth knowledge of HR, benefits technology – ADP Workforce Now
  • Knowledge of the Affordable Care Act (ACA)  is a  plus
  • Must be an experienced user of Microsoft Office (Word, Excel, Access), including spreadsheet creation and manipulation
  • Analytical, project management, problem-solving, and interpersonal skills required
  • Ability to handle multiple assignments demonstrating excellent organization skills and flexibility
  • Must have critical thinking skills, communication skills, and the ability to work both independently and as a part of a team
  • Must be familiar with Benefits Administration  policies, programs, and practices. 

        

Benefits