Specialist, Payroll

Magna International•Aurora, ON

24d•Onsite

About The Position

The Payroll Specialist will be responsible for the full cycle processing of assigned Canada and/or US payrolls including participating in year-end activities, 3rd party remittances, garnishment set up, payroll journal entries. This role involves preparing and processing payrolls on a weekly and bi-weekly basis for hourly and salaried employees in union and non-union environments. Responsibilities include managing garnishments, incentive payouts, deferred incentive payments, stock options, hypo tax, shadow payroll reporting, and pension payrolls. The specialist will also balance payrolls according to year-end calendars, participate in audits, set up initial garnishments, and reconcile 3rd party remittances. Additionally, the role requires maintaining accurate payroll records, completing year-end balancing and filing of T4s/W2s, and preparing necessary tax form amendments. Reporting to internal/external stakeholders, including Finance, Operations, and Statutory Reporting, is also a key function. The specialist will prepare payroll journal entries, reconcile payroll general ledger accounts, and maintain complete and accurate division notes and processing instructions (run books). General responsibilities include supporting employee inquiries to ensure satisfaction, participating in payroll-related systems implementations (defining requirements, testing), and documenting processing instructions and checklists.

Requirements

3 to 5 years processing large scale US and Canada payroll (2500+ employees)
Advanced Excel skills for reporting, metrics and data validation
Strong planning and organizational skills with proven ability to manage competing priorities, maintain sensitive and highly confidential information
Very detailed oriented with a superior track record of achieving high quality results

Nice To Haves

Expatriate/commuter payroll exposure is considered an asset
Active PCP or FPC Designation or willingness to obtain designation

Responsibilities

Prepare and process assigned Canada and US payroll(s) on a weekly and bi-weekly basis for hourly and salaried employees in union and non-union environments which can include garnishment processing, incentive payouts, and deferred incentive payments, stock options, hypo tax, shadow payroll reporting, and pension payrolls
Balance assigned payrolls based on year-end calendars, participate in audit of other payrolls as assigned
Initial Garnishment set up
Prepare and reconcile 3rd party remittances as defined by due dates
Maintain accurate and up-to-date payroll records
Complete year end balancing, filing and delivery of T4s and/or W2s, complete yearend tax form amendments as required
Preparing monthly, quarterly and annual reporting as required by various internal/external stakeholders such as Finance and Operations and Statutory Reporting as assigned
Prepare payroll journal entries, reconcile payroll general ledger accounts as requested
Maintain complete and accurate Division notes and processing instructions (run books)
Support questions received in a manner that ensures employee satisfaction
Participate in systems implementations related to payroll by defining requirements, participate in preparing test plans, and documenting test results
Document and maintain processing instructions (run books) and maintain checklists for payroll processing