Payroll Specialist

What is a Payroll Specialist?

A Payroll Specialist is a financial professional responsible for managing employee compensation, ensuring timely and accurate payroll processing, and maintaining compliance with tax laws and regulations. They play a critical role in verifying payroll data, calculating wages, and addressing payroll-related inquiries. By ensuring smooth and error-free payroll operations, Payroll Specialists help organizations maintain employee satisfaction and legal compliance.

In the FinTech industry, Payroll Specialists often leverage advanced payroll systems and automation tools to handle high transaction volumes efficiently. They contribute to the adoption of innovative payroll technologies, ensuring seamless integration with financial systems while addressing the unique needs of a fast-paced and evolving industry.

Average Monthly Employment Cost (with Benefits)

Average Annual Employment Cost (with Benefits)

‍

Payroll Specialist Job Description

We are seeking a detail-oriented Payroll Specialist to manage and process payroll operations for our growing organization. In this role, you will ensure accurate and timely compensation for employees while adhering to regulatory requirements and company policies. If you thrive in a fast-paced environment and have a passion for the FinTech industry, this is your chance to be a key part of our team.

In this role, you will: 

• Process Payroll: Accurately calculate and process employee wages, benefits, deductions, and taxes on a bi-weekly or monthly schedule.
• Maintain Employee Records: Update and maintain payroll records, including salary adjustments, tax forms, and employment status changes.
• Ensure Compliance: Stay updated on payroll laws, tax regulations, and industry standards to ensure compliance across all payroll activities.
• Address Payroll Queries: Respond to employee inquiries regarding pay, benefits, and deductions, resolving discrepancies promptly.
• Prepare Payroll Reports: Generate detailed payroll reports for management and ensure records are maintained for auditing purposes.
• Collaborate with HR and Finance Teams: Work closely with HR to manage employee data and with finance teams to ensure payroll aligns with budgets and forecasts.
• Support System Integration: Use payroll software and systems to streamline processes, implement updates, and ensure accuracy.
• Audit Payroll Processes: Conduct periodic payroll audits to identify and resolve discrepancies, ensuring error-free operations.

Essential Skills & Qualifications:

• Educational Background: Bachelor’s degree in Accounting, Finance, Business Administration, or a related field is preferred.
• Experience: Minimum of 2 years of experience in payroll processing or a related field.
• Technical Proficiency: Proficiency in payroll systems such as ADP, Gusto, or QuickBooks, and strong knowledge of Microsoft Excel.
• Attention to Detail: High level of accuracy in processing payroll data and identifying discrepancies.
• Communication Skills: Excellent verbal and written communication skills to effectively address employee queries and liaise with internal teams.
• Analytical Skills: Strong ability to analyze payroll data and maintain compliance with legal and regulatory requirements.

Preferred Qualifications:

• Certifications: Certified Payroll Professional (CPP) or equivalent certification is an advantage.
• Industry Knowledge: Experience in the FinTech or financial services sector is a plus.
• Multi-Country Payroll Experience: Familiarity with international payroll processing and compliance.
• Process Improvement: Experience in implementing automated payroll systems and process enhancements.