Payroll Manager
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The Payroll Manager is responsible for the administration of all aspects of the business’s payroll data inclusive of but not limited to, processing monthly payrolls for all divisions of the business, conducting reconciliation audits, and interfacing with the business’s third-party payroll vendors. The role of the Payroll Manager demands that the occupant has an ability to maintain the strictest of confidentiality at all times in regard to the business and its team members.
The Payroll Manager is responsible for the management planning and execution of payroll processes and systems in order to ensure payroll processing occurs in an accurate and timely manner. The Payroll Manager is additionally responsible for the development and coordination of business-wide processes and procedures for payroll management.
Objectives and Responsibilities of the Payroll Manager
Management and Strategy: The Payroll Manager plays both a managerial and strategic role. He sets objectives, prioritizes workload, and develops and recommends changes in policies, procedures, and methods. These tasks ensure proper control, improvement, and efficiency of the business’s payroll function. In this position, the Payroll Manager assigns, oversees, and reviews the work of the payroll support staff through hiring, promoting, effecting salary recommendations, and conducting performance appraisals.
The Payroll Manager also reconciles the payroll-related general ledger and prepares statements or reports summarizing payroll-related accounts. He additionally manages workflows and ensures all payroll transactions are processed in a timely and accurate manner. The Payroll Manager also works to ensure that all necessary control procedures are effected prior to disbursement initiation.
It is also the payroll manager’s duty to oversee of all outsourced payroll providers and ensure that they routinely document and update all of the business’s payroll procedures. The Payroll Manager also serves as a key member of the finance management team and ensures that any inquiries received are either resolved or well under way to resolution. The Payroll Manager additionally manages vendor relationships for payroll system and employees’ compensation.
Financial and Analytical Role: The Payroll Manager is tasked with the preparation and verification of the business’s payroll data for the purpose of ensuring accurate and timely payments for members. In this position, the Payroll Manager has the responsibility of analyzing, preparing, and inputting payroll data into automated systems. It is also his duty to review and approve all payroll journal entries as well as reconcile payroll general ledger accounts and regular bank statements.
The Payroll Manager additionally sets up and reconciles voluntary payroll deductions, creates reports, and identifies research exceptions. It is the duty of the Payroll Manager to ensure accurate and timely weekly/monthly/quarterly/annual financial reporting for senior HR management and key stakeholders. The Payroll Manager also researches on the tax compliance for the business and prepares and remits local tax reports and other payroll-related summaries.
Collaboration: The role of the Payroll Manager is not an entirely independent role and, as such, he collaborates with bank personnel in coordinating the preparation and distribution of cheques, and in securing the accuracy of tax report filing with appropriate tax agencies within the state. The Payroll Manager also collaborates with the IT department in developing procedures that are related to automated payroll systems and in the maintenance of payroll computer systems.
He will also work in partnership with human resources senior management and the financial department in determining areas for employee benefits, compensation, or deductions. In this collaboration, he also works with both of these departments in ensuring a high level of confidentiality, transparency, and communication in financial matters.
Knowledge: The Payroll Manager is additionally tasked with maintaining an informed and up to date environment in the department in regard to best practices, trends, and relevant legislation. He achieves this by conducting consistent research and keeping the team up to date with the latest payroll tools, legislation, practices, and trends. He also attends and participates in leadership workshops and seminars.
Other Duties: The Payroll Manager also performs similar duties as necessary for the proper execution of his duties and duties as assigned by the Head of Administration, Chief of Human Resources, or the Employer.
Required Qualifications of the Payroll Manager
Education: The Payroll Manager must have a bachelor’s degree, preferably in Finance, Human Resources, Business, Economics, or any other related field. He should also be a certified payroll professional (CPP) which is strongly preferred.
Experience: A candidate for this position must have had at least 5 years of working experience in payroll preparation and processing, preferably working as payroll junior support personnel. The candidate will also have had experience performing ledger reconciliations, researching variances, and effecting appropriate solutions for any discrepancies. A suitable candidate will also demonstrate strong knowledge of payroll policies, practices, legislation, and procedures within the jurisdiction of the business’s operation.
A suitable candidate will also have proven and successful experience in payroll administration, and accounting or finance. As an additional requirement, due to the sensitive nature of the position, a background check may be required for the candidate.
Communication Skills: Communication skills will also be required for this position, both in written and verbal form. The Payroll Manager will be required to clearly articulate messages in his managerial role, which will in turn influence the performance and efficiency of support personnel in the department. He will also be required to prepare regular and numerous financial reports for senior management, key stakeholders, and collaborating personnel.
These reports have to be clear, concise, convincing, and understandable. He must also have the ability to translate the most technical and complex messages in a manner that will suit the crowd at hand, making such messages understandable and easy-to-digest.
Computer Skills/Ms Office: A candidate for the position must have great computer skills and demonstrate high proficiency in the use of Ms Word, Ms Excel (pivot tables and lookups), and PowerPoint, which are all necessary for the creation of visually and verbally engaging materials and reports for senior management, key stakeholders, and collaborating personnel.
Analytical Skills: A candidate in the position must demonstrate a passion for conducting research, conducting analyses on raw data and information, and deriving lasting and actionable insights for payroll policies and procedures within the business.
Interpersonal Skills: The Payroll Manager must also demonstrate certain attributes that make him better suited for the position. Therefore, a candidate for the position must have an ability to deal with confidential and sensitive material, and maintain a high level of integrity.
He will also be self-motivated working under minimal supervision, be proactive going beyond the call of duty, have an ability to handle multiple simultaneous tasks, complete tasks in a timely manner, have excellent problem-solving skills, have an ability to work well in a collaborative setting, and demonstrate calmness in times of uncertainty and stress.
People Skills: The candidate must also demonstrate an ability to establish and maintain strong and meaningful relationships with others. He will also be likeable and relatable, inspiring trust in others, which will enable senior human resources management and stakeholders to be at ease divulging sensitive information and for collaborating personnel to trust in his insights, judgments, and directives.
