Payroll Specialist

Frederick Fox; Eden Prairie (MN); Hybrid; USD 60,000 - 85,000; Full time

Job summary

Frederick Fox in Eden Prairie, MN seeks a Payroll Specialist to support the Finance function with payroll processing, accounting, and reporting. You will collaborate with Human Resources, manage sensitive data, and ensure regulatory compliance across compensation and benefits.

Responsibilities include payroll processing, ADP system optimization, payroll accounting, reporting, audit support, and coordination with vendors. A strong background in payroll systems and confidentiality is essential.

Qualifications

• Bachelor's degree in accounting or related field with 3+ years of relevant experience, or high school degree or equivalent with 7+ years of relevant work experience
• Advanced technical knowledge of payroll processing and related systems; 2+ years of ADP experience preferred
• Strong technical knowledge with Microsoft Office Suite, Excel in particular
• Ability to maintain the highest level of sensitivity and confidentiality
• Ability to prioritize and manage multiple tasks efficiently and effectively within tight deadlines
• Solid data management, analytical, problem-solving, and planning skills with excellent attention to detail
• Adaptable to various competing demands and a resourceful team player
• Exceptional interpersonal skills and ability to effectively communicate and interact in person and in writing with internal team members and external constituents

Responsibilities

• Leads regularly recurring payroll process to ensure accurate and timely processing each payroll cycle
• Uses the third-party payroll processor platform (ADP) effectively
• Adheres to payroll processes to ensure accuracy, protection of data, and integrity of controls
• Ensures payroll documentation with reporting to support compliance with internal and external regulatory requirements
• Implements special payroll processes for non-qualified deferred compensation plans and variable compensation
• Monitors changes in compensation and benefits reporting requirements and identifies changes needed
• Coordinates with HR on questions related to compensation or benefits
• Identifies and implements efficiencies in the ADP system with input from the Assistant Controller
• Trains staff in the use of the system
• Initiates accounting for compensation and benefits activities, including reconciliations and posting journal entries
• Provides documentation for employer contributions to retirement plans and safe harbor matching
• Analyzes forecast for compensation and benefits expenses vs. budget
• Produces reports to support management decisions (e.g., PTO analysis)
• Provides audit support for compensation and benefits (retirement plan and workers' comp)
• Leads initial analysis to support tax compliance for vendor payments
• Maintains vendor tax forms and records for reporting
• Processes accounts payable and employee expense reports
• Supports Finance and other functions with vendor inquiries and process improvements
• Other duties as assigned

Job description

PURPOSE

The Payroll Specialist will provide support to the Finance function with a focus on payroll processing, accounting, and reporting requirements. The position also partners closely with counterparts in Human Resources. This position leverages expertise in tools and processes to manage highly sensitive personnel data as well as specialized payroll expertise to manage more complicated payroll compliance and reporting needs. This position reports to the Assistant Controller and is a member of the Finance team.

RESPONSIBILITIES

Payroll Processing and Compliance

• Leads regularly recurring payroll process to ensure accurate and timely processing each payroll cycle, including:
• Uses the third-party payroll processor platform, currently ADP, effectively
• Adheres to payroll processes to ensure accuracy, protection of data, and integrity of appropriate controls
• Ensures that each payroll is documented with reporting to support compliance with all internal and external regulatory requirements for compensation and benefits
• Implements special, non-recurring payroll processes as required to support compliance with different wage and tax reporting requirements related to the non-qualified deferred compensation plans and variable compensation
• In collaboration with the Assistant Controller and counterparts in Human Resources as applicable, monitors developments in compensation and benefits and payroll practices in order to proactively identify needs or opportunities for changes or improvements in approach, tools, or process, including:
• Identifies compliance needs associated with changes in compensation and benefits reporting requirements
• Coordinates with Human Resources on any questions related to employee compensation or benefits
• Identifies and implements efficiencies and compliance-related changes needed in the third-party payroll processing system, currently ADP, with input from the Assistant Controller
• Trains staff in the efficient use of the system

Payroll Accounting and Financial Reporting

• Initiates accounting for compensation and benefits related activities, including but not limited to producing quarterly and annual reconciliations, maintaining general ledger records, and posting journal entries
• Provides documentation for independent verification of employer contributions to retirement plans, including but not limited to discretionary contributions and the employer's safe harbor matching contribution
• Analyzes forecast for compensation and benefits expenses against budget, ensuring forecasts are reasonable and variances are supported
• Produces reports to support internal management and decision-making specific to compensation and benefits, including but not limited to paid time off analysis
• Provides audit support for compensation and benefits, including but not limited to the qualified retirement plan and workers compensation

Accounts Payable Transaction Processing and Vendor Management

• Leads initial analysis to support tax compliance with respect to payments to vendors
• Maintains online system to prepare and file vendor tax forms
• Maintains vendor records to support reporting requirements
• Processes accounts payable ensuring timely payment of invoices
• Processes employee expense reports, ensuring timely and accurate processing
• Actively supports Finance and other functions to provide responses to vendor inquiries
• Proactively identifies opportunities for improvements related to Finance processes and tools

Other Duties as Assigned

• Advance MACP's mission and cultural values of excellence, humility, learning, respect, integrity, and making a difference
• Support MACP's vision and commitments to diversity, equity, inclusion, and justice, which are rooted in cultural values and embedded in direction from the donor
• Contribute to community learning and impact goals, including efforts to strengthen a culture of belonging that embraces different viewpoints, seeks full participation, cultivates welcoming and respectful environments, promotes fair treatment, and confronts discrimination in all its forms

EDUCATION, EXPERIENCE, AND OTHER QUALIFICATIONS

• Bachelor's degree in accounting or related field with 3+ years of relevant experience, or high school degree or equivalent with 7+ years of relevant work experience
• Advanced technical knowledge of payroll processing and related systems; 2+ years of ADP experience preferred
• Strong technical knowledge with Microsoft Office Suite, Excel in particular, with the ability to learn various financial systems
• Ability to maintain the highest level of sensitivity and confidentiality in both internal and external relationships
• Ability to prioritize and manage multiple tasks efficiently and effectively within tight deadlines
• Solid data management, analytical, problem-solving, and planning skills with excellent attention to detail
• Adaptable to various competing demands and a resourceful team player
• Exceptional interpersonal skills and ability to effectively communicate and interact in person and in writing with internal team members and external constituents

TRAVEL

Less than 10%

PHYSICAL REQUIREMENTS AND WORK ENVIRONMENT

The work environment is an office setting with a designated office or workstation at the Margaret A. Cargill Philanthropies office in Eden Prairie, Minnesota.

• Hybrid work schedule with the expectation that employees will work in-office 3 days per week with the option to work remote up to two days per week
• In-office days include Tuesday and Wednesday and either Monday or Thursday; all employees work remote on Friday
• There may be occasions where it is required to be in-office more than 3 days in a week or on a day normally scheduled as a remote workday, depending on the role
• Shared work hours are 9am-3pm Monday-Thursday and 9am-12pm Friday
• Occasionally, the person in this role may be required to adjust to time pressures and frequent changes
• This role may require an irregular schedule or overtime
• This position is primarily a sedentary role with an adjustable sit/stand desk
• The person in this position needs to occasionally move about inside the office to access file cabinets, office equipment, attend meetings, or events
• Occasional or intermittent physical activities may include bending, reaching, twisting, stooping, or climbing within an office environment
• This position requires regular use of a computer to complete work responsibilities
• This position includes regularly working with other office equipment and communication technology, such as video conferencing, telephone, and copy/print machine
• This role frequently performs multiple tasks simultaneously and works closely with others as part of a team

The above statements are not intended to encompass all functions and qualifications of the position; rather, they are intended to provide a general framework of the requirements of the position. Job incumbents may be required to perform other functions not specifically addressed in this description.