Compensation & Benefits Administrator

About Us:

Fidelity Bank (Bahamas) Limited prides itself on being a premier financial institution dedicated to fostering a customer-centric culture and delivering unparalleled banking services to our clients. Our unwavering commitment to integrity, professionalism, and innovation underscores every aspect of our operations. As we continue to expand, we are seeking an experienced Compensation & Benefits Administrator to join our Human Resources Department and play a pivotal role in managing the fair and accurate administration of compensation and benefits programs.

How to Apply?

If you are driven by promoting a positive employee experience, enhancing employee satisfaction, and improving employees’ overall welfare, Make that Move; submit your resume and cover letter on LinkedIn or via careers@fidelitybahamas.com. In your cover letter, please highlight why you are interested in this role and how your skills and experience align with the position requirements.

Fidelity Bank (Bahamas) Limited is an equal opportunity employer and values diversity in the workplace. We encourage applications from all qualified individuals, including those with diverse backgrounds.

All applications will be held in the strict confidence. Only short-listed candidates will be contacted.

Position Overview:

Job Level: Supervisor

The Compensation & Benefits Administrator serves as a key member of our Human Resources team, responsible for managing payroll, processing, and administering employee benefits programs. This role requires exceptional attention to detail, strong organizational skills, and a commitment to maintaining confidentiality. In addition, success in this role requires a demonstrated commitment to the role and a willingness to dedicate the time necessary to complete assignments on schedule. This may include working beyond standard hours when required to ensure accuracy, timeliness, and reliability in the delivery of critical compensation and benefits functions. The successful candidate will serve as the central point of contact for all compensation and benefit-related matters, ensuring that all employees receive timely and accurate support.

Key Responsibilities:

Payroll Processing:

Oversee and execute end-to-end monthly payroll processing for all employees, ensuring timely and accurate payment.
Maintain accurate payroll records reflecting employee changes such as new hires, terminations, salary adjustments, and deductions.
Identify and resolve payroll discrepancies by analysing and updating relevant data.

Benefits Administration:

Administer employee benefits programs, including health insurance, pension plans, and NIB (National Insurance Board) enrolments, with a focus on efficiency and compliance.
Manage pension and NIB enrolments, deductions, and payments, including the preparation of reports for the Fidelity Pensions Services Manager.
Facilitate accurate and timely delivery of employer contributions and employee payroll deductions to carriers, plan administrators, or other appropriate service providers.
Conduct market research to evaluate incentive compensation plans in similar organizations, analyse competitive offerings, and provide strategic recommendations to enhance and maintain the organization’s competitive edge and effectiveness in employee compensation.
Communicate benefits program updates and respond to employee inquiries with professionalism and clarity.

Data Management & Collaboration:

Collaborate with the HR team to maintain accurate and up-to-date employee records within the payroll systems.
Update system records to reflect changes in employee status, ensuring data integrity and compliance.
Track and manage employee leave records, including vacation, sick leave, maternity leave, and other leaves of absence, and report discrepancies as necessary.

Compliance & Best Practices:

Stay current with industry standards, labour laws, and regulations to ensure the company’s payroll and benefits processes remain compliant.
Maintain knowledge of economic conditions, labour market trends, and other factors that impact the organization’s ability to provide competitive and reasonable benefits and compensation structures.
Implement best practices in payroll and benefits administration to maintain efficiency and effectiveness.
Protect employee confidentiality and maintain trust by safeguarding sensitive payroll and benefits information.

Reporting & Documentation:

Prepare and submit monthly, quarterly, and annual HR reports.
Compile and update the Compensation Process Document to reflect changes in procedures and best practices.
Draft and issue compensation letters, final settlement letters, and other relevant communications for employees.

Communication & Support:

Address employee inquiries regarding payroll and benefits matters promptly and professionally, ensuring a high standard of service.
Provide support to the Human Resources Director in refining and enhancing compensation and benefits processes.
Participate in special projects and collaborate on cross-departmental tasks to drive overall HR efficiency.

Ideal Candidate Profile:

We are looking for an individual who is not only technically skilled but also dedicated to fostering a positive employee experience. You should possess:

Proven Administrative Skills: Demonstrated ability to manage payroll and benefits processes accurately and efficiently.
Organizational Expertise: Strong time management and the capacity to prioritize tasks effectively in a structured and systematic manner.
Meticulous Attention to Detail: High degree of accuracy in processing payroll and maintaining records.
Knowledge of Labour Laws: Comprehensive understanding of current labour laws and their application to compensation and benefits administration.
Confidentiality & Integrity: Strong commitment to maintaining confidentiality and demonstrating integrity in handling sensitive employee information.
Analytical Skills: Proven ability to collect, analyse, and interpret data to address payroll discrepancies and produce accurate reports.
Clear Communication Skills: Strong written and verbal communication skills, enabling effective interaction with employees and stakeholders.

Qualifications:

Bachelor’s degree in Human Resources, Business Administration, or a related field is preferred.
A minimum of four years of experience in compensation and benefits administration, payroll processing, or a similar role.
Experience with HRIS systems and payroll software such as Sage HRMS and Sage Time & Attendance is a plus.
Comprehensive knowledge of labour laws and regulations.
SHRM Certifications a plus.