Labor Cost Analyst

The Fedcap Group•New York, NY

18d•$85,000 - $95,000•Onsite

About The Position

The Labor Cost Analyst works within The Fedcap Group’s global Finance Planning & Analysis department, reporting to the VP of Financial Planning & Analysis. The role analyzes and reports payroll and workforce-related costs, including payroll, fringe benefits, outside labor, and professional fees, with allocations to projects and programs. It provides detailed analysis at the employee, program, project, and funding-source levels and partners with Payroll, HR, HRIS, Finance, Billing, Accounting, and Program Management to support accurate payroll data, appropriate allocations, project budgets and forecasts, financial reporting, and contract billing. The position focuses on how payroll costs are used across programs, including salaries, overtime, vacancies, fringe benefits, temporary labor, consultants, and professional services. It includes payroll reporting and variance analysis, workforce and project cost analysis, cost allocation and project costing, and support for annual budgeting and monthly forecasting. The analyst also evaluates project staffing and labor costs in relation to revenue, scope, contract requirements, and approved budgets, and develops analytical models to assess the financial effects of staffing changes.

Requirements

Bachelor’s degree in finance or accounting.
At least 5 years of related work experience.
Prior experience with payroll analysis, corporate-level budgeting, forecasting, financial reporting, and data management.
Knowledge of The Fedcap Group’s mission, vision, and goals, and ability to execute relevant policies and procedures.
Strong analytical and verbal and written communication skills.
Knowledge of payroll analytics and metrics, including outside labor and professional fees.
Experience supporting budgeting for payroll and related costs in for-profit and not-for-profit organizations.
Experience working with ERP systems.
Strong Microsoft Excel skills, including pivot tables, VLOOKUP, and SUMIFS.
Ability to analyze situations accurately, recommend courses of action, and translate complex financial information into clear business insights.
Ability to establish and maintain effective working relationships within FP&A, Accounting, and Program staff.

Nice To Haves

MBA preferred.
Knowledge of Oracle Fusion, Smartview, and EPM.

Responsibilities

Analyze payroll expense by employee, program, project, funding source, and grant or contract.
Compare actual payroll expense against budgets and forecasts, identify significant variances, and explain them.
Prepare recurring reports for FP&A, Program Management, and Senior Leadership.
Develop and track payroll KPIs, including vacancies, overtime hours, outside labor usage, and payroll as a percentage of revenue.
Analyze and calibrate payroll allocations.
Analyze payroll as a percentage of project revenue and identify significant changes in labor cost ratios.
Assess relationships between staffing levels, vacancies, overtime, outside labor, and project financial performance, including identifying when vacancies or staffing shortages increase overtime or outside labor costs.
Analyze payroll expense trends, including fringe benefits, and identify variances from budget and forecast.
Evaluate whether project staffing and payroll levels align with project revenue, scope, contract requirements, and approved budgets.
Explain significant changes in labor-to-revenue ratios to management.
Develop analytical models to assess the financial impact of staffing changes on project performance.
Analyze allocation of administrative and indirect costs across projects and evaluate payroll and fringe-benefit allocation methodologies.
Analyze direct allocation of project staff costs and ensure personnel expenses are assigned appropriately to projects and funding sources.
Identify allocation anomalies and coordinate with Finance, Accounting, and Program staff to resolve them.
Partner with Billing to understand project and contract requirements and their effect on billing allowable costs under fee-for-service, cost-reimbursement, and fixed-price contracts.
Provide detailed financial support for payroll and related costs in annual budgets and monthly forecasts.
Support payroll cost assumptions for budgets and forecasts, including headcount, vacancies, wage changes, merit increases, overtime, turnover, new hires, and external labor.
Develop analyses assessing the financial impact of staffing and program changes.