Associate Director, Payroll, Equity and Benefits

New York, New York
Ovid Therapeutics
The Associate Director, Payroll Equity & Benefits is the go to person for anything regarding payroll and the financial side of benefits administration. This Ovidian ensures that employees are paid correctly and on time and their benefits are in sync with what they are enrolled in or changed. By managing and executing Ovid’s payroll, the PBE Administrator will be accountable for all aspects of the payroll process from time sheets to tax reporting. Ovid depends on this role to protect the company by administering payroll and benefits in a compliant fashion and should become a compliance expert. They will partner with the company’s professional employment organization (PEO) to process accurate payroll/benefits and troubleshoot when necessary. HR and the PBE Administrator team together when it comes to payroll and benefits: HR administers payroll and benefits on the front end and the PBE Administrator facilitates the appropriate processes on the back end.

CORE RESPONSIBILITIES

1. Exemplify Ovid Mission and Values in everyday work and interaction with other Ovidians and external vendors.
2. Maintain and handle all information in a confidential manner, ensuring that all records are secure and not open to exposure.

Payroll Administration

• Ensure Ovid employees are paid correctly and on time:
• Manages all the activities of the payroll function including but not limited to: timesheet processing, payroll changes, PTO accrual, overtime, garnishment, tax withholding and payroll record retention.
• Perform a detailed-level review of payroll processed on a semi-monthly and weekly basis to ensure accuracy and timely payroll and tax payment submissions.
• Process various reimbursements through payroll.
• Build and maintaining a relationship with our PEO partner to smoothly administer payroll, prepare & transmit taxes and reports, year-end processing/reporting and any other services they may provide to Ovid.
• Serve as the liaison between the employees and the PEO partner and troubleshoots any payroll or benefit related issues.
• Keep current with and ensures payroll compliance with federal, state and local requirements.
• Develop, implement and maintain payroll policies, procedures and internal controls to ensure adherence to company guidelines.
• Understand payroll strategies and provide recommendations for continuous improvement of payroll processes including technological enhancements to improve efficiency.
• Review quarterly tax verification report, wage & tax report and master control.
• Responsible for implementing any payroll program upgrade, change or migration.
• Responsible for reconciliation of all payroll accounts; work with external auditors on payroll audits.
• Responsible for payroll and equity onboarding of new hires.
• Responsible for updating employees’ data for payroll budget planning.

Benefits Administration

• Work with Human Resources to create and maintain certain policies and procedures related to compensation and benefits.
• Oversee administration and reporting of Company’s 401(k) plan.
• Responsible for plan changes, eligibility tracking, new enrollments, contribution transfers, loans, record keeping, reconciliations and DOL compliance.
• Administer (or assists in administering) and troubleshoots the financial and accounting aspects of Company benefits such as COBRA, 401K plan, health and welfare insurance benefits.
• Reconcile various benefit withholdings on a monthly basis.

Accounting

• Prepare month-end journal entries including accruals related to payroll, equity and benefits.
• Reconcile payroll bank account on a monthly basis.
• Provide and support required payroll and equity information for 10-Q/K and Proxy filings.
• Responsible for creating, reviewing and/or maintaining various reports such as 401K, Bonuses and metrics for management, etc. in a timely and accurate manner.
• Establish and maintain strong partnerships with internal/external stakeholders including external auditors Communicate actively with other departments and vendors to resolve issues.

Equity

• Day-to-day administration of equity compensation plans (Stock Options, ESPP, etc.) including all aspects of record keeping, reporting and reconciliation.
• Responsible for data entry (new hires, terminations, changes) into the equity administration service provider – E*Trade.
• Administer new hire, annual and off-cycle grant processes by collaborating with Legal and Finance on award documentation, participant communications and online grant acceptance.
• Administer ESPP plan and work closely with advisors on purchasing of shares, monitoring ESPP limits, qualified and disqualified dispositions.
• Compile equity data for Proxy and 10Q/K statements.
• Maintain equity plan documentation for internal and SOX compliance.
• Point of contact for employees’ equity compensation questions.
• Provide ad hoc reports and analysis as requested by Finance and HR.
• Maintain positive relationship with stock plan service provider (E*Trade) and stock plan advisors.

COMPETENCIES

• Managing Work
• Communicating
• Learning & Adapting
• Maximizing Resources
• Quality & Customer Focus

QUALIFICATIONS/SKILLS

• Bachelor’s degree in Business Administration, Accounting, Finance, or related field preferred.
• Certified Payroll Professional (CPP) certification preferred.
• Certified Equity Professional (CEP) is helpful, not required.
• Proficient in Excel, Word and Outlook.
• 5 or more years of Payroll experience with multiple locations.

About Us

Ovid Therapeutics Inc. is a New York-based biopharmaceutical company using its BoldMedicine® approach to develop medicines that transform the lives of patients with rare neurological disorders. We believe these disorders represent an attractive area for drug development as the understanding of the underlying biology has grown meaningfully over the last few years and today represents a substantial opportunity medically and commercially. Based on recent scientific advances in genetics and the biological pathways of the brain, we aim to identify, discover and acquire novel compounds for the treatment of rare neurological disorders. We have built a deep knowledge of such disorders, how to treat them and how to develop the clinically meaningful endpoints required for development of a compound in these disorders.

We continue to execute on our strategy to build this pipeline by discovering, in-licensing and collaborating with leading biopharmaceutical companies and academic institutions. Ovid’s emerging pipeline programs include OV329, a small molecule GABA aminotransferase inhibitor for seizures associated with Tuberous Sclerosis Complex and Infantile Spasms; OV882, a short hairpin RNA therapy approach for Angelman syndrome; OV815, a genetic therapy approach for KIF1A associated neurological disorder; and other non-disclosed research targets. Additionally, Ovid maintains a financial interest in OV935 which is now being developed by Takeda.

EEO Statement: OVID Therapeutics is an Equal Opportunity employer. All OVID recruiting is conducted in a fair and non-discriminatory manner without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.