Sr Payroll Accountant

POSITION:

Senior Payroll Accountant

DATE: November 2022

DEPARTMENT:

Accounting Policy and Financial Reporting

FLSA: Exempt

REPORTS TO:

Manager, Accounting Operations and Payroll

LOCATION: Hybrid/Reston

SUMMARY OF POSITION:

The primary functions of this position are to complete the Office of Finance's (OF) semi-monthly and unscheduled payroll, record journal entries and reconcile bank accounts related to payroll; prepare accurate and timely retirement, regulatory, and internal reports; prepare the quarterly salary and benefits budget and forecast variance reports; support the preparation of the annual budget; process accounts payable and accounts receivable transactions related to Human Resources; and support the OF's diversity and inclusion (D&I) program.

All newly hired employees at the Office of Finance (OF) will be required to present acceptable proof of vaccination confirming that they are fully vaccinated against COVID-19 prior to their commencement of employment with the Office of Finance, subject to reasonable accommodation considerations under applicable law.

PRINCIPAL RESPONSIBILITIES:

• Responsible for the semi-monthly payroll process using Automatic Data Processing (ADP), including processing benefit reimbursements and deduction payments.
• Calculate and ensure proper employee and matching contributions for qualified and non-qualified retirement plans.
• Verify personnel records, benefit deduction changes set up by Human Resources, and coordination of changes and modifications to the payroll system with a high level of accuracy.
• Ensure compliance with State and Federal tax withholding requirements and knowledge of all OF plans and benefit programs to ensure compliance with policies, procedures, and applicable laws.
• Develop annual budget and quarterly forecast for compensation and benefits, review quarterly budget variances, and identify key underlying causes.
• Assist with the calculation and implementation of the variable pay programs (e.g. annual and deferred incentive programs).
• Participate in Year-End Processing, including W-2s & 941 reconciliation and various annual reporting (e.g. DB & 401(k) Census, Software Capitalization).
• Calculate and report quarterly accruals to the Federal Home Loan Banks (FHLBanks) related to vacation liability, incentives, and Supplemental Retirement Plan.
• Prepare journal entries for each payroll.
• Reconcile ADP reports to bank statements and General Ledger.
• Review and process Human Resources-related vendor invoices in a timely manner, avoiding late payment and duplication of payment.
• Maintain confidential payroll records.
• Establish monthly, quarterly and year-end accruals related to compensation and benefits.
• Prepare monthly benefit allocation journal entries.
• Participate in the monthly bank billing process and preparation of assessment reporting to the FHLBanks.
• Assist with compensation related regulatory and financial reporting, and other ad-hoc reporting.
• Review the Human Resources Compensation Committee of the Board of Directors materials related to compensation.
• Provide data in a timely manner in support of internal and external audit teams and implement remediation plans as needed.
• Maintain the Payroll procedures manual, ensuring updates are implemented and approved in a timely manner.
• Assist with Federal Housing Finance Agency regulatory reporting requirements for Minority, Women and Inclusion in supplier diversity for quarterly reporting and for D&I metrics for quarterly Board of Directors reporting.
• Support the OF's diversity and inclusion strategy by following policies and procedures that ensure opportunities for employees and diverse business partners.
• Prepare management reports and executive-level presentations.

PRINCIPAL JOB REQUIREMENTS:

• Bachelor's degree or related work experience
• 5-7 years of work experience in accounting (or finance), payroll, and benefits
• Working knowledge of accounting concepts and understanding of General Ledger Entries
• Demonstrated ability to plan, organize, and prioritize tasks
• Strong analytical skills and attention to detail required
• Strong proficiency in Excel is a must
• Good interpersonal skills, ability to interact with staff on all levels
• Ability to listen and integrate ideas from diverse groups of individuals, build and maintain respectful relationships, collaborate with others, and resolve conflicts constructively
• Working knowledge of Defined Contribution and Defined Benefits in multiple employer plans preferred
• Experience with the ADP Workforce system preferred
• Knowledge of various federal and state employment laws and regulations preferred
• FPC, CPP, or other certification a plus
• Proof of eligibility to work in the United States

EQUAL EMPLOYMENT OPPORTUNITY:

The Federal Home Loan Banks Office of Finance is committed to equal employment opportunity without regard to race (including traits historically associated with race, such as hair texture, hair type and protective hairstyles), color, religion, sex, pregnancy (including childbirth, lactation, and related medical conditions), national origin or ancestry, age, physical or mental disability, veteran status, uniformed service member status, military status, sexual orientation, gender identity, status as a parent, marital status, genetic information (including testing and characteristics), citizenship status, or any other characteristic protected by applicable federal, state, or local law.