Compensation Benefits Officer

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Position Title: Compensation Benefits Officer

Job Summary:

• Ensures accurate, prompt, and verifiable recording of transactions affecting the compensation of all employees and timely release of their payroll and bonuses. Computes all other benefits (retirement, separation, leave conversion, maternity, sickness, etc.). Ensures accurate computation of annual income tax and timely remittance of monthly withholding taxes on salaries and wages to Bureau of Internal Revenue.
• Accurately computes the annual package of directors and advisers, and provision for the Group Chairman and President’s Discretionary Fund. Processes compensation and benefits of various senior officers of subsidiaries.
• Ensures proper documentation of records, and reports based on the time prescribed by law or government agencies (such as BIR, SSS, PHIC, NHDMF) and to facilitate tracing such files in the future.

Role Exposure:

• Supervises the processing of the regular payroll (which are released every 12th and 27th of the month) and bonuses and other benefits (leave conversion, profit sharing, regular bonuses, tellers’ incentives, medical and clothing allowance) of junior officers including the preparation of input sheet and review of the data encoded in the payroll system.
• Reviews computation and request payment of retirement/separation benefits of retired/separated junior officers.
• Checks correctness of reimbursable allowances due to junior officers before uploading to the payroll system.
• Reviews computation of maternity and sickness benefits of junior officers.
• Reviews computation for the loanable amount and corresponding semi-monthly amortizations for junior officer’s housing loan, housing, car and multi-purpose loan under Provident plan, financial assistance loan, car plan and other loans to subsidiaries and creditors with approved Memorandum of Agreement with the Bank.
• Reviews certification of SSS and Philhealth contributions being issued to employees.
• Reviews certification of employment with compensation being issued to Junior Officers and Senior Officers.
• Reviews correctness of the input to the provident fund system of the monthly contributions to provident fund of the member employees.
• Reconciles annual income tax withheld from junior officers against the yearly report to be submitted to BIR (Alphabetical List of Employees from Whom Taxes are Withheld).
• Reviews and signs BIR Form 2316 (Certificate of Compensation Payment/Tax Withheld) of junior officers.
• Reviews Senior Officers’ payroll and other related transactions of MBTC, PSB, FMIC, GBPC, MDC, GCC & FMTI.
• Participates on special projects/enhancement programs to improve process in the Oracle Payroll System.
• Downloads payroll schedules after every payroll period.
• Ensures appropriate relationship with staff, other operating units’ officers and staff so that the requirement for teamwork and good working relationship is served.
• Processes regular payroll, bonuses and other benefits (leave conversion, profit sharing, regular bonuses, medical and clothing allowance) of senior officers (MBTC, PSB, FMIC, GBPC, MDC, GCC, FMTI & PCIC) including the preparation of input sheet and data encoded in the payroll system.
• Computes and processes request for payment of retirement/separation benefits of retired/separated senior officers of MBTC and selected subsidiaries.
• Prepares monthly Expanded Withholding Tax schedule for remittance.
• Assists in the preparation of annual income tax withheld from employees against the yearly report to be submitted to BIR (Alphabetical List of Employees from Whom Taxes are Withheld).
• Prepares BIR Form 2316 (Certificate of Compensation Payment/Tax Withheld) of senior officers of MBTC and selected subsidiaries.

Qualifications:

• Bachelor’s Degree
• Analytical
• With excellent relationship and stakeholder management skills (customer service)
• Has strong collaboration skills to work effectively across various business and functions
• Able to perform other related functions that may be assigned from time to time

Other Details:

Rank: Junior Officer

Unit: Office of the President / Office of the Assistant to the Group Chairman / Compensation Evaluation Department

Location: Metrobank Center, BGC, Taguig City