VP of Payroll

Responsible for the management of First Financial Bank’s complex payroll, including the direction and development of payroll department processes and procedures, the supervision of payroll staff members, and payroll and record-keeping for all forms of compensation and the various employee and executive benefits programs.

 ESSENTIAL FUNCTIONS:

  • Performs all payroll related job functions, which include processing semi-monthly payroll, all related tax reporting, benefit and payroll deductions, maintenance of the timekeeper accruals for holding company banks and subsidiary companies.
  • Ensures that the end payroll product and its processes are compliant with established internal controls and all state and federal regulations.
  • Works closely with Bank management team to ensure all special compensation circumstances are scheduled and paid according to compensation agreements and employment contracts.
  • Reviews each payroll prior to submission, paying special attention to payroll changes made by staff, to ensure accuracy, timeliness and conformity with company guidelines.
  • Monitors and reviews payroll tax deposits, filings and perform reconciliation.
  • Oversees annual preparation of W-2 income reporting and facilitates corrections if needed.
  • Advises the EVP- Human Resources of possible resolutions when problematic payroll issues arise
  • Maintain payroll best practices, bring forth process improvement ideas, and adjustments needed to be changed or streamlined and communicates with the appropriate individuals
  • Prepares Annual Workers’ Compensation Report for insurance rates.
  • Prepares necessary information for the annual salary budgeting process
  • Prepares and provides various reports to internal departments (i.e. Compensation Committee, Accounting, Audit) and outside agencies (i.e. BLS, state and federal governmental surveys) as needed.
  • Works closely with HRIS team to monitor and maintain relationship with the third-party payroll ACH/tax filing company.
  • Responsible for providing all necessary payroll information to various internal and external auditors in a timely and efficient manner
  • Maintains records for employee deferrals and calculates and processes employer match for the various companies participating in the 401K Plan.
  • Provides the data referenced above to the 401K Plan Administrator for annual discrimination testing and 5500 filing by established deadlines for each company.
  • Acts as primary point of contact for the bank’s HCEs for the non-qualified deferred compensation plan, including the coordination of annual enrollment for deferrals and bonuses and aiding the third-party administrator and participating employees.
  • Provides leadership and instruction for payroll department employees.
  • Partners with the Accounting Department on all payroll related functions.
  • Processes and completes salary surveys.
  • Obeys all applicable federal laws, rules, and regulations relating to Anti-Money Laundering (AML) including the Bank Secrecy Act (BSA).
  • Handles other duties or special projects as assigned.
  • Additional duties include budget worksheets, end of month reporting, salary surveys, state reporting, special projects.
  • Actively participate Customer Service First program and culture and support the values of the organization and follow established Bank policies and procedures.

MINIMUM QUALIFICATIONS:

  • Bachelor’s degree in Accounting or a Business-related degree field
  • Ten years of payroll processing management experience in a large company is required.
  • Experience in the financial industry is preferred
  • Experience with Workday Payroll processing preferred
  • Must be proficient in Windows applications – Word, Excel and Access. Important to this position are integrity, confidentiality, reliability, and professional work ethic. 
  • Incumbent must demonstrate excellent mathematical aptitude, initiative, and ability to work under pressure, and handling of multiple tasks.
  • Excellent communication skills, organization skills, and professional demeanor are a must.

 The above statements reflect the general details considered necessary to decide the principal functions of the job identified and shall not be construed as a detailed description of all work requirements that may be inherent in the job.