Payroll and Benefits Coordinator (32 hours/wk)

Job Description

The Oak Ridge Financial is a well-established financial services firm offering a full complement of brokerage, financial advisory and investment banking services to individuals and corporations through two business lines.

Reporting to the Executive Vice President of Finance and Accounting and serving as an integral member of the firm; the Payroll and Benefits Coordinator is responsible for the accurate and timely processing of payroll and administration of employee benefits. This role serves as the primary point of contact for payroll and benefits vendors and ensures compliance with company policies and regulatory requirements. The position also provides secondary support to the Accounting team by assisting with invoice entry and related tasks in the accounting system.

Primary Responsibilities: Payroll & Benefits Administration

Payroll Administration:

• Process full-cycle payroll on a regular schedule (e.g., semi-monthly and monthly), ensuring accurate calculation of wages, taxes, deductions, and benefit contributions in compliance with applicable regulations.
• Set up new employees in the payroll system, ensuring accurate tax withholding elections, direct deposit information, and benefit deductions.
• Enter, update, and maintain payroll changes, including salary adjustments, bonuses, commissions, garnishments, deductions, and terminations.
• Review payroll reports for accuracy; reconcile discrepancies and resolve issues prior to final submission.
• Ensure compliance with all federal, state, and local wage and hour laws and payroll tax requirements.
• Maintain payroll records and supporting documentation in accordance with company policies and legal retention requirements.

Serve as the primary liaison between the company and payroll vendors to resolve payroll-related issues, manage escalations, and coordinate responses to payroll-related inquiries and special requests.

Benefits Administration:

• Assist with benefits enrollment, changes, and terminations.
• Support and help coordinate annual Open Enrollment, including employee communications and system updates.
• Work closely with benefits brokers and carriers to manage employee benefits programs.
• Maintain accurate benefits data within payroll and HR systems.
• Prepare and submit annual census reporting and related benefits documentation.

Respond to employee inquiries regarding payroll and benefits matters in a timely and professional manner.

Secondary Responsibilities: Accounting Support

• Enter vendor invoices into the accounting software accurately and in a timely manner.
• Assist with coding invoices to appropriate general ledger accounts.
• Prepare and enter payroll-related journal entries, ensuring proper account coding and reconciliation to payroll reports.
• Support Accounts Payable processes as needed.

Collaborate with the Accounting team on ad hoc projects and reporting.

Qualifications

• Associate’s or Bachelor’s degree in Accounting, Finance, Human Resources, or related field preferred.
• 3+ years of payroll processing experience.
• Experience with benefits administration and vendor coordination.
• Strong attention to detail and high level of accuracy.
• Ability to manage confidential information with discretion.
• Excellent written and verbal communication skills.

Strong organizational skills with the ability to manage multiple deadlines and prioritize effectively.

Key Competencies

• Payroll compliance knowledge
• Analytical and problem-solving skills
• Vendor relationship management
• Data accuracy and reporting
• Team collaboration
• Strong Microsoft Excel skills, including the ability to create and analyze spreadsheets, use formulas, and generate reports.