Payroll Lead

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. 

What you will do 
Reporting to the Payroll Manager you will coordinate all payroll activities across the team and will be accountable for all aspects of payroll administration including the prioritization of day-to-day activities, overall quality assurance and compliance with payroll regulations and legislative requirements. 

As the subject matter expert on the team, you will provide guidance to team members as well as provide advice to Bank leaders and employees and to different functions within the HR department. You will also collaborate closely with functions outside of HR such as Financial Services, Legal and Internal Audit.

You will be responsible for the accuracy of the Bank’s payroll and for minimizing operational risks. This includes ongoing monitoring of payroll activities and adherence to controls, quality assurance and compliance verification including performing account reconciliations. You will also lead year-end payroll -activities. 

You will use your analytical skills, payroll expertise and business acumen to resolve complex matters, conduct research, propose process and system enhancements and implement solutions to address technical issues. You will ensure payroll business requirements are well defined and process documentation is maintained for effective operations and adherence to controls. During the implementation of system enhancements (mostly in SAP), you will lead system testing and ensure business processes remain effective.

What you need to succeed
We are looking for a technically savvy payroll analyst who will be the “go to person” for payroll related matters.  You must be an effective communicator and a problem solver who can act promptly to determine the urgency and impact from a payroll, pension and benefits perspective. You must also be a solid team player. 

You must be able to gather and interpret information related to new requirements, make recommendations to the HR Centre leadership team, and adapt processes, procedures and interfaces accordingly. You will be expected to provide input on changes or enhancements to HR policies, programs and services. 

You must have:
•    in depth knowledge of HR policies and procedures related to payroll, pension and benefits
•    knowledge of payroll principles, practices, regulations and procedures
•    technical knowledge and expertise of SAP Payroll and associated interfaces 
•    advanced skills in SAP and Excel to develop detailed payroll reports and data manipulations
•    regulatory and legislative knowledge and interpretation related to national and provincial Payroll, Pension and Benefits and tax regulations
•    knowledge of the Canadian Labour Code, Canadian Tax Regulations, and the Pension and Benefits Standards Act

Nice to have
•    knowledgeable of international tax surrounding taxation of foreign operations

Your education and experience
This position requires a college diploma or bachelor’s degree in accounting, business administration or human resources along with five to seven years of experience in payroll, pension and benefits (i.e. leading day-to-day payroll activities and ensuring compliance and leading the development of systems, processes and policy changes) as well as three to five years of experience using SAP Payroll. An equivalent combination of education and experience maybe considered.

A certified Payroll Manager (CPM) Certification or Payroll Compliance Practitioner (PCP) Certification is also required.