Payroll Analyst I (US)

TD • Portland, ME

5d • $24 - $34

About The Position

The Payroll Analyst I is responsible for preparing and reconciling payroll transactions, maintaining accurate records, and ensuring that all payroll-related entries are correctly posted to the general ledger. This role ensures compliance with relevant tax laws and regulatory requirements, supports internal and external audits, and helps maintain strong internal controls. This role also generates reports for internal stakeholders and regulatory bodies, analyzes payroll data for trends or discrepancies, and contributes to month-end and year-end financial closings. Depth & Scope: Works within broad and/or non-standard parameters, involving multiple steps, systems, and jurisdictions and where there could be a lack of market standard/practice, referring to a more senior role when necessary Requires specialized expertise and performs multiple and/or diverse tasks that are highly complex, involving multiple steps, systems, and jurisdictions Expert on HR programs, end-to-end processes and systems for own specialized area Handles 1st level escalated issues and provides work guidance and direction or acts as a working team lead and resource to others Accountable for resolving exceptions, non-standard issues / transactions and/or escalating to appropriate level where further clarity or interpretation of more complex policies or rules is required Provides process / policy guidance to others – internal partners/clients Focus of work is weekly, monthly and/or longer with addition of ad-hoc and initiative-based requests, as required May involve cross-functional teams across TD and/or involving external contacts

Requirements

• Undergraduate degree required
• 1+ years relevant experience required
• Sound knowledge and understanding of the operating environment, business process and procedures, and transaction lifecycle for own area
• Requires general understanding of the overall function and/or businesses supported
• Organized self-starter with excellent analytical, problem-solving and time management skills
• Detail oriented, high level of accuracy and ability to work independently
• Strong communication skills, both oral and written
• Strong PC skills including Microsoft Office, Excel, Access and PowerPoint
• Strong customer orientation, interpersonal and communication skills to deal effectively with all levels of staff

Responsibilities

• Weekly, biweekly, semi-monthly and quarterly processing of all payroll and time entries
• Completes negative gross pay calculations for payment recoveries
• Processing of garnishment and other legal withholding orders
• Acts as Tier 2/3 for Employee and People Manager inquiries
• Monthly Reconciliation of all Pension GL accounts, and all Active Payroll accounts owned by the payroll team
• Biweekly Reconciliation and submission of RRSP transfers related to severance payments
• Biweekly Reconciliation and submission of Family support and Garnishment deductions, Future builder and Charitable deductions for Active payrolls
• Monthly Reconciliation and submission of Family support and Garnishment deductions, and Charitable deductions for Pension payrolls
• Bank account Reconciliation
• Monthly Reconciliation and entries related to all Manulife benefit deductions
• Weekly Remittance and Reconciliation of Taxes to CRA & Revenue Quebec (CIT, QIT, QPP, CPP, EI, etc.)
• Monthly or quarterly Remittance and Reconciliation of Employer Health taxes to different Provinces
• APEX debit/credit rejects reconciliation and posting, communication to impacted employees and Cost centre owners
• Employee Ownership Plan and SEI Reconciliation
• Stock Option Balancing and Stock Purchase Balancing and funding of the monthly Active and Pension Payrolls
• Expensing active payroll for the Bank Service Recognition shares balancing and investments
• Online Teller Posting
• Provide support to the larger Payroll team as needed
• Other accounting tasks as assigned
• Prioritizes and manages own workload to meet SLA requirements for service and productivity
• Consistently exercises discretion in managing correspondence, information and all matters of confidentiality; escalates issues where appropriate
• Be knowledgeable of practices and procedures within own area of responsibility and keep abreast of emerging trends for own functional area.
• Protects the interests of the organization – identifies and manages risks, and escalates non-standard, high-risk transactions / activities as necessary
• Conducts internal and external research projects; supports the development/delivery of presentations / communications to management or broader audience
• Conducts reporting and/or meaningful analysis at the functional or enterprise level using results to draw conclusions, make recommendations, assess the effectiveness of programs/ policies/ practices
• Monitors service, productivity and assesses efficiency levels within own function and implements continuous process / performance improvements where opportunities exist
• Acquires and applies expertise in the discipline, provides guidance, assistance and direction to others
• Identifies, recommends and effectively executes standard practices applicable to the discipline
• Adheres to internal policies/procedures and applicable regulatory guidelines
• Keeps abreast of emerging issues, trends, and evolving regulatory requirements and assesses potential impacts
• Maintains a culture of risk management and control, supported by effective processes in alignment with risk appetite
• May lead work streams by acting as a project lead / subject matter expert for small scale projects / initiatives in accordance with project management methodologies
• Participates fully as a member of the team, supports a positive work environment that promotes service to the business, quality, innovation and teamwork and ensures timely communication of issues/ points of interest
• Supports the team by continuously enhancing knowledge / expertise in own area and participates in knowledge transfer within the team and business unit
• Keeps current on emerging trends/ developments and grows knowledge of the business, related tools and techniques
• Participates in personal performance management and development activities, including cross training within own team
• Keeps others informed and up to date about the status / progress of projects and/or all relevant or useful information related to day-to-day activities
• Contributes to the success of the team by willingly assisting others in the completion and performance of work activities; provide training, coaching and/or guidance as appropriate
• Contributes to a fair, positive and equitable environment that supports a diverse workforce
• Acts as a brand ambassador for your business area/function and the bank, both internally and/or externally

Benefits

• Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical and mental well-being goals.
• Total Rewards at TD includes base salary and variable compensation/incentive awards (e.g., eligibility for cash and/or equity incentive awards, generally through participation in an incentive plan) and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off (including Vacation PTO, Flex PTO, and Holiday PTO), banking benefits and discounts, career development, and reward and recognition.
• Through regular development conversations, training programs, and a competitive benefits plan, we’re committed to providing the support our colleagues need to thrive both at work and at home.
• You’ll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Number of Employees: 101-250 employees