The Payroll Analyst is responsible for analyzing and managing payroll data to ensure accurate and timely processing of employee compensation. This role involves detailed review and reconciliation of payroll reports, addressing discrepancies, and providing insights to improve overall payroll operations. The Payroll Analyst works closely with HR, finance, and IT departments to support payroll functions and compliance.
Key job responsibilities
Key Responsibilities: Review and analyze payroll data to ensure accuracy and compliance with company policies and regulatory requirements.
Identify and resolve discrepancies in payroll records.
Reporting: Generate and analyze payroll reports, including summaries, cost analysis, and compliance reports. Prepare ad-hoc reports as required for management or external audits.
Data Management: Maintain and update payroll records, including employee information, pay rates, deductions, and tax withholdings. Ensure data integrity and accuracy in payroll systems.
Compliance: Monitor changes in payroll-related laws and regulations. Ensure payroll practices comply with federal, state, and local regulations, including tax laws and labor standards.
System Maintenance: Support the administration and optimization of payroll software and systems.
Work with IT to troubleshoot and resolve system issues and implement system updates.
Audit and Reconciliation:
Conduct regular payroll audits to ensure accuracy and adherence to policies. Reconcile payroll accounts and rectify any discrepancies in financial records.
Process Improvement: Identify opportunities for process improvements in payroll operations. Recommend and implement best practices to enhance efficiency and accuracy.
Support: Provide support and assistance to HR and finance teams regarding payroll-related inquiries.
Assist with payroll-related training and documentation as needed.
A day in the life
Qualifications: Education: Bachelor’s degree in Accounting, Finance, Business Administration, or in a related field.
Experience: Previous experience in payroll or financial analysis, preferably with a focus on payroll processing. Familiarity with payroll software and systems.
Skills: Strong analytical and problem-solving skills.
Proficiency with payroll systems (e.g., ADP, Paycheck, Ceridian) and Microsoft Excel. Knowledge of payroll laws, regulations, and best practices.
Excellent attention to detail and accuracy.
Strong organizational and time-management skills.
Effective communication skills and ability to work collaboratively with cross-functional teams.
About the team
Key job responsibilities
Responsibilities also include:
- Identify the variances and report the audit findings to Payroll operations team for review and corrections.
- Collaborate with Payroll Controllership regional owners to communicate the potential risk and work towards the resolution of the same in partnership with various stakeholders.
- Able to perform process deep dive and identify any new risks or opportunities.
- Identify process gaps and work with upstream partners to mitigate the defects.
- Competent to review existing processes and recommend audits/controls and should be able to apply analytical thinking for resolving audit findings.
- Promote excellence through a culture of continuous improvement in our processes and key business inputs.
- 1 to 2 years of relevant payroll experience
- Proficient in Microsoft Excel and Word
- Flexible to work in any shift as per Business requirement.
· Excellent verbal and written communication skills
· Strong experience with customer service
· Detail oriented
· Strong problem solving and analytical skills
· Prior experience in payroll