Payroll Specialist

2 weeks ago

Ottawa, Ontario, Canada Bank of Canada Full time

Payroll Specialist

Take a central role


The Bank of Canada has a vision to be a leading central bank—dynamic, engaged and trusted—committed to a better Canada.

No other employer in the country offers you the unique opportunity to work at the very center of Canada's economy, in an organization with significant impact on the economic and financial well-being of all Canadians.

You will be challenged, energized and motivated to excel in our environment.


Building on the principles that have always guided us - excellence, integrity and respect - we strive to be forward-looking and innovative, to welcome people with diverse perspectives and talents, and to earn trust by living up to our commitments and by clearly explaining the intent of our policies and actions.

With our defined-benefit pension plan, benefits, and high flexibility for work life balance - find out more about why we are annually ranked as one of Canada's top employers: Working Here - Bank of Canada

Find out more about the next steps in our Recruitment process.

About the position


Led by the Manager, Payroll Services you will join a dynamic and diverse team of payroll analysts who collaborate to ensure a high-level of operational effectiveness and process improvement within the end-to-end payroll process.

Our team is vital in ensuring all payroll operations at the Bank of Canada occur in a timely, and accurate fashion.

We are also exploring a shift to new payroll technologies and modernization of SAP HCM to fully digitize our HR systems and process.

This is a unique opportunity to collaborate and learn with top-notch internal and external partners engaging on modernized payroll initiatives that make a real impact at Canada's Central Bank


Further, you will have the full support of your leader and teammates to enhance your skills, experiment, and further your career through our customizable Learning & Development programs across various domains (HR, SAP, Payroll, Analytics, etc.) and relevant certifications.


What you will do

You will be responsible for the administration and reconciliation of the bi-weekly, monthly, and quarterly payroll for employees, pensioners, and Board of Directors.

This includes processing routine payroll transactions, including gross-to-net calculations, before and after-tax payroll statutory and non-statutory deductions, and other related transactions.


In addition, you will:

  • Prepare Records of Employment (ROE) in accordance with Service Canada requirements
  • Complete all postpayroll activities, including remittance of statutory and nonstatutory deductions to third parties.
  • Ensure compliance with CRA and RQ requirements, ensuring that all tax remittances are balanced and remitted as per the established schedules to avoid late assessment penalties.
  • Complete the monthend and quarterly processing and reconciliation activities, including balancing the current, monthtodate, and yearto
- date payroll registers, monthly reconciliation of pension payments, and ensuring vendor invoices are paid in accordance with processing schedules.

  • Provide recommendations and input for system improvements and conduct user acceptance testing and validation for approved SAP HR/Payroll system changes prior to implementation in the Production environment.

What you need to succeed
You are a self-starter with the ability to set priorities, stay organized, and ensure deliverables are achieved.


Further, you have excellent communication skills (both written and verbal, ideally in both official languages) with the ability to work collaboratively with cross-functional teams to meet tight deadlines, manage competing priorities and support the achievement of shared objectives.


In addition, you have:

  • An interest in learning new technology, with an analytical mindset and ability to analyze complex data and processes accurately, identify discrepancies, and improve processes as necessary.
  • Knowledge of regulatory and legislative requirements related to payroll processing, e

g:
income tax, employer health tax and worker's compensation, employment insurance, garnishments, Canada Labour Code, etc.

  • Strong skills in Excel to develop detailed payroll reports and any data manipulation.

Nice to have:

  • Relevant certifications/designations (Payroll Compliance Practitioner (PCP) Certification, etc.) or willingness to pursue in the near future (23 years)
  • Experience in SAP Payroll and Reporting/Analytics
  • Knowledge of HR best practices including payroll, pension, and/or benefits
  • Knowledge of Microsoft Excel functionalities

Your education and experience

What you need to know

  • Language requirement: English and French essential (bilingual) with a minimum starting level of functional (level 4) in second official language. Training may be provided to help reach the required level of fully functional (level 5) in second official language.
  • Priority will be given to Canadian citizens and permanent

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