Payroll Analyst

CompanyFederal Reserve Bank of Richmond

When you join the Federal Reserve—the nation's central bank—you’ll play a key role, collaborating with a dynamic and diverse team of mission-driven professionals to strengthen and protect our economy and our communities.
Bring your passion and expertise, and we’ll provide the opportunities that will challenge you and propel your growth—along with a wide range of benefits and perks that support your health, wealth, and life. In addition to competitive compensation, we offer a comprehensive benefits package that includes tuition assistance, generous paid time off, top-notch health care benefits, child and family care leave, professional development opportunities, a 401(k) match, pension, and more. All brought together in a flexible work environment where you can truly find balance

About the Opportunity

The System Payroll department has an immediate opening for a Payroll Analyst. In this role, you will be responsible for administering day-to-day payroll processing which includes maintaining and auditing all payroll related tasks in Workday for assigned Districts across the Federal Reserve System. (approximately 21,000 employees). You will be responsible for processing semimonthly payroll for moderately complex payrolls while ensuring compliance with US and local state regulations as well as assigned District's unique payroll policies and procedures. Additionally, you will provide consultation to customers by performing research and analysis of data to solve problems of varying complexity. This role will report to the Payroll Manager.

What You Will Do:

• Use Workday and Perspective Concepts (ImageNow) to ensure the accuracy of payroll, verifying payroll data integrity and analyzing payroll performance.

• Identify, troubleshoot, and resolve payroll issues. Document resolutions for process improvements going forward.

• Perform complex analysis of major business issues and proactively search for and recommend sustainable solutions utilizing established methodology and tools.

• Review, compile and analyze detailed and complex statistics and data for major business issues, providing guidance and collaboration in completing analysis, information, or process mapping.

• Build relationships with key stakeholders by assessing, evaluating, and fully understanding the needs and requirements of each District. Partner with key stakeholders to address business needs and issues proactively. 

• Lead process improvement projects, participate in System initiatives, and present outcomes and actionable recommendations to senior management.

• Contribute to the development and design of new business processes, suggest improvements to current business processes, and raises issues before they become challenging to fix.

• Monitor the environment for new or potential risks and evaluate implications of risks on payroll processes, policies, or practices.

• Review payroll changes, regulations, and laws to determine appropriate handling in accordance with payroll practices and policies and execute action; Provide guidance to local payroll functions based on changes and assist with communication and implementation.

• Provide oversight, direction, and expertise to local payroll functions and drive standardization.

• Maintain up-to-date knowledge of unique payroll policies and procedures for the System.

• Participate in cross-training for new or existing staff.

Qualifications:

• Associate or Bachelors degree in Accounting or Finance preferred or equivalent experience.

• 3-5 years’ prior payroll experience including multi-state payroll processing for large organizations

• Workday knowledge required. 

• Fundamental Payroll Certification (FPC) from American Payroll Association or Certified Payroll Professional (CPP) preferred.

• Critical thinking, data analysis and presentation skills

• Proficient interpersonal skills and ability to work with people at all levels of the organization

• Requires creativity, innovation, and initiative to research and recommend operational changes

• Advanced Excel and PowerPoint skills required

Discover the Reason Why So Many People Love It Here!

When you join the Richmond Fed, not only will you find a challenging and purposeful career, you will also have access to a wide range of benefits and perks that support your health and wealth including:

• Hybrid Work Environment

• Great medical benefits

• Pension and 401(k) with employer match

• Paid time off

• Tuition reimbursement

• Employee resource networks

• Paid volunteer leave

• Onsite amenities that make working here fun

Other Requirements and Considerations:

• Candidates should review the Bank’s Employee Code of Conduct to ensure compliance with conflict-of-interest rules and personal investment restrictions.

• If you need assistance or an accommodation due to a disability, please notify [email protected].

• Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to, requirements to vaccinate or test, mask, social distance, etc.).

• Sponsorship is not available for this role. Selected candidate is subject to special background check procedures.

• Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications/experience.

• The hiring range for the Payroll Analyst Intermediate is $63,000 – $80,000 annually.

• The Fifth District provides a hybrid work environment. This position is required to be onsite on Tuesday, Wednesday, and Thursday each week.

• Applications are reviewed on a rolling basis.

• Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels.

Full Time / Part TimeFull time

Regular / TemporaryRegular

Job Exempt (Yes / No)Yes

Job CategoryAnalytical

Work ShiftFirst (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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