Payroll Analyst Job Description Template
A Payroll Analyst processes weekly and monthly payroll data for all employees, ensuring adherence to company codes. This role involves reviewing, balancing, and validating payrolls while managing all payroll accounting functions in a company. Professionals in this role are expected to follow regulations and policies based on industry standards.
We are looking for a Payroll Analyst to manage worker compensation, ensuring that all payments are made on time and accurately. This senior position involves creating new strategies for payroll and system processing, managing the payroll cycle regularly, and ensuring workers receive their wages and benefits. Professionals in this role also give input during tax season.
Roles and Responsibilities
- Ensure payroll functions are accurate, complete, audited, reconciled, and sent on time.
- Resolve payroll issues and mismatches timely.
- Audit and reconcile payroll data, including worker time data.
- Lead, train, and guide the payroll staff.
- Comply with company and industry standards.
- Manage payroll applications for retirees using the retirement system.
- Handle voluntary deductions and special pay cycles like bonuses, commissions, special payments, merits, adjustments, and equity.
- Follow state laws to process new hire payments, leave of absence, and terminations.
- Maintain off-cycle payrolls, reversals, stop payments, and manual checks.
- Conduct daily, weekly, monthly, quarterly, and annual payroll audits and create reports for all.
Skills and Requirements
- Bachelor’s degree in finance, accounting, business administration, or other related fields.
- 2+ years of experience in payroll processing.
- Preferred CPP certification.
- Good grasp of regulations, codes, and laws related to labor and employment.
- Experienced in PERS/STRS retirement regulations, employee benefits plans, and retirement plans such as ICR 125, HSA, 403B/457, etc.
- Skilled in using payroll and auditing software to review, verify and manage payroll data, and financial data analytic tools and accounting programs.
- Proficient in MS Office, and preferred ADP SmartCompliance disbursement skills.
- A data-driven approach to payroll solutions.
Frequently Asked Questions
1. What is the career growth path for a payroll analyst?
Anyone with a bachelor’s degree can start as a Payroll Analyst, and they can move to a senior position after working for at least two years. The analyst would have to perform more complex functions as they advance in their career.
2. Does payroll belong to HR or accounting?
Payroll is generally taken care of by the accounting team, but it needs input from HR for timesheets, leave of absence, and overtime details. Large companies have a separate payroll team ensuring that workers are paid fair wages.
3. What are the key skills of a payroll analyst?
Payroll Analysts must be good with numbers, know about labor laws, and have a working knowledge of payroll software systems used in every company.
4. What are the most valued certifications for a payroll analyst?
Certified Payroll Professional (CPP), Payroll Certification, or Fundamental Payroll Certification (FPC) are the most valued certifications for payroll professionals.