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Director of Partner Compensation, Pension and Payroll
1 month ago
he Director of Partner Compensation, Pension and Payroll is responsible for providing strategic direction, development of key functions and execution of initiatives which are aligned with business objectives and legal requirements. This role directs the overall management, communication, compliance and administration of compensation and retirement programs while interacting with all levels of the firms leaders, members of various Boards, across functions and employees. Lead the development of department goals, objectives, and procedures for skilled staff of 12 (including 3 managers) who manage and execute the firms payroll and retirement plans for Partners, Associates, Counsel, Senior Counsel, executives and business team staff. Oversee financial accounts related to payroll and capital (partners distributions and deductions), and monitor and report on those accounts for leaders and partners of the firm. Develop and monitor an annual budget that includes staffing, continuation of learning, Retirement Program campaigns, and administration. Direct and communicate high-level compensation structure and the details associated with partner/executive compensation, deductions (before and after tax), taxable earnings, and variances against forecasts. Ensure the firm is compliant with all federal, state, and local regulations, filings, reports, and audits related to the administration of employee payroll and pension benefit programs, including ERISA. Ensure all plan documents and Summary Plan Descriptions are complete and updated, 5500 Filings are filed accurately and in a timely manner, discrimination testing has been conducted, and oversee annual plan audits. Oversee multi-state, semi-monthly, bi-weekly and monthly payrolls for 2500+ staff members including on-demand checks and manual earnings adjustments, including garnishments, benefits, and taxes. ```{=html} ``` - Partner closely with the tax team to ensure that all tax positions of partners are appropriately communicated and the firms financial statements are stated correctly. - Partner closely with the Pension Committee. Ensure accurate and efficient benefits administration with a high level of customer service; continuously review process and service for areas of improvement. - Research and resolve all escalated requests related to administration of partner compensation, payroll and retirement program. ```{=html} ``` - Manage relationship with key vendors in the payroll and pension space (including but not limited to Workday, OSV, Alight, Fidelity, trustee and custodians, bankers, plan actuaries, plan auditor, consultants, record-keepers, etc.); Oversee the request for proposal (RFP) process when selecting new vendors or confirming that existing relationships are competitive.
