Job description
Required Skill Sets
Indian Payroll Exposure 20%
- Basic understanding of payroll processing.
- Exposure to India payroll activities.
Corporate Accounting 80%
- Experience in corporate accounting.
- Hands-on experience in R2R with strong exposure to Indian Accounting Standards.
Employee Benefits Knowledge
- Familiarity with employee benefits such as:
- Retirement benefits
- Actuarial concepts related to employee benefits
Job Responsibilities
1. Summary
The Payroll Accounting Assistant Manager will oversee the accurate and timely management of payroll accounting processes, ensuring compliance with statutory requirements, organizational policies, and financial accuracy. This role involves leadership, technical expertise, and process optimization to manage end-to-end payroll operations, reconciliation, and reporting.
2. Payroll Accounting
- Oversee accurate preparation and processing of payroll in compliance with company policies and statutory requirements.
- Salary JV preparation, accruals, and cost reclassification.
- Payroll accounting for multiple legal entities.
- Maintain payroll-related accounts and ensure proper accounting practices.
- Exposure to IGAAP and USGAAP accounting.
- Management of Trust Financials.
- Perform month-end and year-end payroll accounting activities, including journal entries and account reconciliations.
3. Statutory Compliance
- Ensure timely and accurate submission of statutory filings (PF, ESI, TDS, PT, etc.).
- Monitor compliance with labor laws, tax regulations, and payroll-related legislations.
4. Audit and Reconciliation
- Perform payroll reconciliation with the general ledger and financial statements.
- Liaise with internal and external auditors for payroll audits (SOX, Tax, Process Audit).
- Handle Gratuity Trust Audit.
- Resolve discrepancies and implement corrective actions for payroll accuracy.
5. Process Optimization
- Identify opportunities to streamline payroll accounting processes.
- Implement automation and innovative solutions to improve operational efficiency.
6. Team & Stakeholder Management
- Lead and mentor a team of payroll accountants or administrators (if applicable).
- Provide training on payroll processes, statutory updates, and system upgrades.
- Collaborate with HR, Finance, and IT to align payroll processes with business needs.
- Address payroll accounting queries from employees and senior management.
- Proactively analyze and address fluctuations in P&L to prevent steep variances.
7. Reporting & Analysis
- Prepare and present payroll reports and analytics to senior leadership.
- Perform actuarial valuation data analysis and assess financial impact.
- Review and report salary costs and balance sheet variances.
- Provide insights and recommendations for budgeting and workforce cost management.
8. Qualifications & Experience
- Bachelors degree in Commerce, Accounting, Finance, HR, or related field.
- MBA (Finance) or CA Inter preferred.
- Proven experience in payroll accounting, preferably in a BPO industry with 2000+ employees.
- Knowledge of payroll software and ERP systems (SAP, Oracle).
- Expertise in tax laws, labor regulations, and statutory compliance related to payroll.
9. Skills & Competencies
- Strong analytical and problem-solving skills.
- Proficient in Microsoft Excel and accounting tools.
- Excellent communication and interpersonal skills.
- Leadership and team management capabilities.
- Ability to meet tight deadlines with high attention to detail.
