Finance Payroll Officer Job Description

Overview

The Finance Payroll Officer is a critical role responsible for ensuring accurate and timely processing of employee payroll. This position requires a strong understanding of payroll regulations, tax laws, and accounting principles. The ideal candidate will be detail-oriented, possess excellent analytical skills, and demonstrate a commitment to maintaining confidentiality.

Key Responsibilities

• Payroll Processing: Calculate employee wages, deductions, and taxes accurately based on timesheets, attendance records, and employee data changes. Process payroll on a regular schedule (e.g., bi-weekly, monthly) ensuring timely payment to employees.
• Tax Compliance: Stay up-to-date on federal, state, and local payroll tax regulations. Prepare and file all necessary tax forms, including W-2s, 941s, and state withholding reports. Ensure accurate and timely remittance of payroll taxes to the appropriate agencies.
• Record Keeping: Maintain accurate and organized payroll records, including employee files, payroll journals, and tax documentation. Utilize payroll software to manage employee data and generate reports.
• Reporting and Analysis: Generate payroll reports for management review, including payroll summaries, tax liabilities, and benefits contributions. Analyze payroll data to identify trends, discrepancies, and potential areas for improvement.
• Benefits Administration: Assist with the administration of employee benefits programs, including health insurance, retirement plans, and other employee perks. Process employee enrollments, terminations, and changes to benefits coverage.
• Employee Inquiries: Respond to employee inquiries regarding payroll, taxes, and benefits in a timely and professional manner. Resolve payroll discrepancies and address employee concerns with accuracy and efficiency.
• Audit Support: Assist with internal and external audits related to payroll and tax compliance. Provide documentation and support to auditors as needed.
• Process Improvement: Identify opportunities to streamline payroll processes and improve efficiency. Recommend and implement changes to payroll procedures to enhance accuracy and reduce errors.
• System Maintenance: Maintain and update payroll software with current tax rates, deduction codes, and employee information. Troubleshoot system issues and coordinate with IT support as needed.
• Compliance: Ensure compliance with all applicable federal, state, and local laws and regulations related to payroll, taxes, and labor standards. Stay informed of changes in legislation and update payroll practices accordingly.

Qualifications

• Bachelor’s degree in Accounting, Finance, or a related field preferred.
• Proven experience (typically 3+ years) in payroll processing and tax compliance.
• In-depth knowledge of payroll laws, regulations, and accounting principles.
• Proficiency in using payroll software (e.g., ADP, Paychex, Workday).
• Strong analytical and problem-solving skills.
• Excellent attention to detail and accuracy.
• Ability to maintain confidentiality and handle sensitive information.
• Excellent communication and interpersonal skills.
• Certified Payroll Professional (CPP) certification is a plus.

Skills

• Payroll processing
• Tax compliance
• Payroll software proficiency
• Data analysis
• Record keeping
• Benefits administration
• Communication
• Problem-solving
• Attention to detail

Reporting Structure

The Finance Payroll Officer typically reports to the Accounting Manager or Controller.