Pension Payroll Specialist

OPB (Ontario Pension Board); Toronto; On-site; CAD 55,000 - 85,000; Full time

Job summary

An established industry player is seeking a detail-oriented Pension Payroll Specialist to manage the payroll for a significant number of retired members. This role involves processing payrolls, ensuring compliance with regulations, and collaborating with various teams to maintain accuracy and efficiency. The ideal candidate will have a solid background in Canadian payroll, strong analytical skills, and proficiency in payroll systems. Join a team committed to excellence and contribute to the successful administration of one of Canada's largest pension plans.

Qualifications

• Experience with Canadian payroll processing in medium-sized organizations.
• Completion or progress towards PCP or PLP designation.

Responsibilities

• Process off-cycle payrolls and ensure accuracy of tax withholdings.
• Collaborate with IT to correct data discrepancies.
• Prepare payroll reports and support reconciliation of payroll data.

Skills

Canadian payroll processing

Attention to detail

Analytical skills

Communication skills

Project management

HRIS knowledge

Adaptability to change

Education

Professional designation (PCP or PLP)

2-3 years experience in payroll

Tools

ADP payroll system

Microsoft Excel

Job description

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The Ontario Pension Board (OPB) administers the Public Service Pension Plan (the PSPP), a major defined benefit pension plan sponsored by the Government of Ontario. With 100,000 members and $34 billion in assets, the PSPP is one of Canada’s largest pension plans. It is also one of the country’s oldest, successfully delivering the pension promise since the early 1920s. Learn more about OPB.

Reporting to the Manager, Pension Payroll, the Pension Payroll Specialist will be responsible for the timely, accurate, and confidential handling of global pension payroll for all OPB retired members, clients, non-residents, and residents (approximately 42,000+ clients and $130 million+). The role primarily involves processing off-cycle payrolls (minimum twice a month) and backing up other payroll runs. You will ensure the accuracy of associated tax withholdings based on the country of residence, health benefits deductions, and regulatory reporting impacts for both non-resident and resident clients. Additionally, you will ensure alignment between OPB's client systems, third-party payroll vendors, and government agencies. You will handle all government reporting and calculations related to these tasks, including expense reports and other accounting functions, ensuring regular and accurate reporting.

Key Responsibilities:

1. Prepare and process two weekly off-cycle payroll runs per month, with additional runs upon request. Payrolls include at least four pension "companies" with 15+ sub-groups.
2. Support analysis of preliminary payroll output to ensure consistency with expectations and client systems.
3. Collaborate with IT to address and correct data discrepancies.
4. Assist in analyzing payroll data, creating breakdowns for reconciliation and journal entries feeding into the accounting system.
5. Prepare, process, and maintain regular, special, and supplemental payrolls to ensure timely pension payments.
6. Review payroll processing for accuracy, identify discrepancies, correct issues, and resolve problems.
7. Book payroll journal entries.
8. Process monthly payrolls to support the Pension Payroll Lead.
9. Partner with the Pension Payroll Lead to develop and implement controls, policies, and procedures ensuring compliance with legislation and policies.
10. Support payroll activities including tax filings, government remittance, record-keeping, and tax slip amendments.
11. Prepare payroll and management reports; support reconciliation of payroll data.
12. Conduct payroll tax analyses, account maintenance, and support audits/actuarial reviews.
13. Perform monthly payroll analytics, generate reports, and validate data.
14. Support projects related to pension payroll administration, processing, and operations.

Key Qualifications:

1. Completion or progress towards a professional designation such as PCP or PLP.
2. 2-3 years’ experience processing Canadian payroll in a medium-sized organization.
3. Knowledge of pension payroll requirements and relevant provincial tax/regulations is an asset.
4. Experience with ADP or similar payroll systems.
5. Understanding of federal and provincial remittance requirements.
6. Strong organizational, planning, and analytical skills; good project management.
7. Attention to detail, accuracy, and ability to manage multiple deadlines.
8. Excellent communication skills for interaction across all levels.
9. Ability to handle confidential information professionally.
10. Working knowledge of HRIS and payroll systems; proficiency in Microsoft Office, especially Excel (pivot tables, lookups, data manipulation).
11. Adaptability to change and new technologies.
12. Collaborative, independent, and quick learner.

Please submit your resume if interested. The competition remains open until a suitable candidate is selected or the position is closed.

OPB is committed to accessibility, diversity, and inclusion. Please inform us if accommodations are needed during the recruitment process. Candidates will undergo background screening. Only shortlisted applicants will be contacted.