Our client, a leading alternative investment manager with roughly $25bn in AUM, is seeking a Compensation Manager. This individual will report directly to the Controller and Director of Management Accounting and the Vice President of Finance. The position has responsibilities for both payroll processing and reporting for the Firm’s employees and partners.
· Coordinate with ADP to perform daily payroll department operations including:
- Manage workflow to ensure all payroll transactions are processed in an accurate and timely manner.
- Understand proper taxation and payments of employer paid benefits
- Coordinate with payroll administrator and state taxing authorities with payrolltax issues, such as seeking refund of state payrolltaxes and required filings
- Process correct garnishment calculations and compliance as well as manual checks
- Oversee overtime and attendance processing
· Reconcile payroll prior to transmission and validate confirmed reports
· Seek reimbursements from employees, as necessary
· Update and reconcile monthly bank statements for company’s payroll accounts
· Generate employee expense reimbursement file from Concur, provide to payroll administrator for processing on a weekly basis, and maintain the stipend records.
· Calculate net pay such as year-end bonus payments net of profit sharing, additional profit sharing level, maternity leave, and annual LTD reimbursement.
· Calculate FICA for a) Guaranteed Payments at beginning of year, b) partner bonuses, and c) for any mid-year changes in guaranteed payment levels
· Respond to employee payroll questions
· Maintain payroll, guaranteed payment (GP), partner distributions, and benefit schedules bi-monthly and update for allocation: salaries, payrolltaxes, bonus, profit sharing, payroll balancing, LTD detail and provide journal entries to accounting on a monthly basis
· Maintain a log of payments to partners and payroll related cash movements.
· Collect quarterly time allocation from all employees and calculate for allocation purposes
· Performs reconciliations between payroll administrator and company’s general ledger for compensation, benefits (i.e. commute pass), and expense reimbursements on a monthly and quarterly basis.
· Resolve discrepancies found in reconciliations
· Provide analysis used in Year Over Year commentaries for company’s Direct and Indirect payroll variances and reporting to management
· Ad hoc requests related to employee and partner compensation (i.e. requests from tax department, divorce subpoenas, revamp of schedules and process)
· Develop ad hoc financial and operational reporting as needed
· Bachelor’s degree
· 5-10 years of accounting experience, preferably in financial services
· Experience with executive compensation
· CPApreferred, but not required
· Detail-oriented with a proven ability to meet deadlines
· Excellent written and verbal communication skills