Payroll Manager

The Coca-Cola Company - Chicago, IL

Full-time - Mid Level

Chicago, IL

1,001-5,000 employees

Beverage and Tobacco Product Manufacturing

About the position

The Payroll Manager at fairlife, LLC is a pivotal role responsible for overseeing and directing all payroll procedures within the organization. This position ensures compliance with various laws and tax obligations while maintaining accurate payroll records. The Payroll Manager will be instrumental in managing the end-to-end payroll processing, which includes salary calculations, managing deductions, and handling garnishments. As a subject matter expert in payroll regulations, the Payroll Manager will address employee inquiries regarding their paychecks, including earnings, withholdings, deductions, and garnishments. In addition to payroll processing, the Payroll Manager will perform thorough analyses of payroll and tax compliance issues identified by ADP, implementing appropriate solutions to rectify any discrepancies. Collaboration with the human resources and finance departments is essential to ensure seamless integration of payroll and employee data. The Payroll Manager will also be responsible for ensuring that all new hires, terminations, promotions, and other employee status changes are accurately reflected in the payroll system, guaranteeing timely and correct payments to employees. The role also involves balancing payroll runs by resolving discrepancies and ensuring compliance with federal, state, and local legal requirements. This includes researching existing and new legislation, enforcing adherence to these requirements, and advising management on necessary actions. Maintaining employee confidence and protecting payroll operations through confidentiality is a critical aspect of this role. The Payroll Manager will manage key annual audits, including 401(k), worker's compensation, and external financial audits, ensuring that all benefit and deduction invoices are processed for payment. Additionally, the Payroll Manager will be responsible for month and year-to-date payroll cost and headcount reporting to support variance analysis and budgeting processes. The position requires a proactive approach to understanding financial posting profiles and processes to assess best practices related to payroll system implementation, along with the flexibility to take on other duties as assigned.

Responsibilities

• Oversees end-to-end payroll processing, including salary calculations and managing deductions, including garnishments.
• Acts as a subject matter expert related to payroll regulations, procedures, and policy, answering employee questions regarding paychecks.
• Processes, reviews, and balances payroll for exempt and non-exempt employees, ensuring timely and accurate payroll-related transactions.
• Performs analysis of payroll and tax compliance issues identified by ADP and executes appropriate solutions.
• Collaborates with human resources and finance departments to integrate payroll and employee data seamlessly.
• Ensures all new hires, terminations, promotions, and other employee status changes are correctly paid out in the payroll system.
• Balances payroll runs by resolving discrepancies.
• Complies with federal, state, and local legal requirements by researching legislation and advising management on needed actions.
• Maintains employee confidence and protects payroll operations by keeping information confidential.
• Manages key annual audits such as 401(k), worker's compensation, and external financial audits.
• Manages benefit and deductions invoices and processes them for payment.
• Prepares month and year-to-date payroll cost and headcount reporting to support variance analysis and budgeting processes.
• Allocates health insurance costs monthly based on actual headcount by department.
• Prepares and posts actual and accrued payroll and incentive entries to the general ledger.
• Understands financial posting profiles and processes to assess best practices related to payroll system implementation.
• Performs all other duties as assigned.

Requirements

• Bachelor of Accounting or Finance Degree, or equivalent experience
• 5+ years' experience performing payroll-related functions required
• Strong knowledge of payroll tax laws
• ADP experience a plus
• Knowledge of tax regulations related to payroll, including withholding and reporting requirements
• Foundational accounting knowledge and financial analysis
• Proficient in Microsoft products, database software, and other applicable accounting and financial software and systems
• Strong attention to detail and the ability to prioritize
• Ability to handle multiple tasks simultaneously and switch between tasks quickly
• Ability to build collaborative relationships with cross-functional internal and external teams
• Ability to handle ambiguity and work in a fast-paced, high-growth, entrepreneurial environment

Benefits

• 401(k)