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Senior Finance Associate - US Payroll

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McKinsey & Company

18d ago

  • Job
    Full-time
    Mid Level
  • People, HR & Administration
    Accounting & Tax
  • Gurgaon

AI generated summary

  • You need a relevant bachelor’s degree, 4+ years in US payroll, SAP experience, strong accounting knowledge, attention to detail, and payroll transformation experience.
  • You will manage payroll inputs, update employee benefits, ensure statutory compliance, generate reports, coordinate releases, file tax remittances, and maintain confidentiality of compensation details.

Requirements

  • Bachelor’s degree in accounting, finance or a related field is preferred
  • 4+ years of experience in US payroll – experience in other countries or regions will be an added advantage
  • SAP payroll system experience required, exposure to Lawson payroll will be preferable
  • Strong knowledge of accounting principles
  • Strong attention to detail, problem-solving, and analytical skills
  • Familiarity with productivity tools such as Microsoft Office Suite
  • Excellent verbal and written communication skills
  • Payroll transformation experience required – including testing experience, ensuring data accuracy and integrity

Responsibilities

  • You will liaise with local office for payroll inputs that include new joiner, terminations, leave of absence LOA, and salary revisions; and you will update the payroll software with the relevant changes for the payroll cycle.
  • In this role, you will ensure all employee benefits (if any) are taken care of and incorporate any changes with regards to banking information, mailing address, tax details, etc. You will review all applicable statutory deductions, including retirement plans, social security taxes, etc. You will also review the offshore instructions. You will also be supporting payroll transformation - SAP payroll platform implementation for an in-house payroll for US and Canada including working & guiding through configuration, testing, and roll-out.
  • You will generate relevant reports (pay register, variance report, etc.) prior to payroll release and review internally. You will also coordinate payroll release with the local offices. You will back up payroll after payroll has been released and respond promptly to payroll e-mail queries.
  • You will file statutory reports and remittance of dues with regards to income tax; FICA FUTA, local and federal taxes, and any other applicable statutory liabilities. You will enter compensation details and conduct accounting of payroll cost. Importantly, you will ensure confidentiality with regard to all compensation details.

FAQs

What is the job title for this position?

The job title is Senior Finance Associate - US Payroll.

Where is this position located?

This position is located in either our Gurugram or Chennai office.

What team will I be a part of?

You will be part of the Global Payroll team.

What are the primary responsibilities of this role?

You will manage payroll inputs, update payroll software, ensure employee benefits, review statutory deductions, support payroll transformation, generate reports, and coordinate payroll release.

What qualifications are required for this role?

A Bachelor's degree in accounting, finance, or a related field is preferred along with 4+ years of experience in US payroll.

Is experience with SAP payroll systems necessary?

Yes, experience with SAP payroll systems is required, and exposure to Lawson payroll is preferable.

What skills are important for this position?

Strong knowledge of accounting principles, attention to detail, problem-solving skills, analytical skills, and excellent communication skills are important for this position.

Will I have to file statutory reports?

Yes, you will need to file statutory reports and manage remittance of dues related to taxes and other liabilities.

Is experience with payroll transformation required?

Yes, payroll transformation experience is required, including testing experience and ensuring data accuracy and integrity.

What tools should I be familiar with for this role?

Familiarity with productivity tools such as the Microsoft Office Suite is expected.

How will confidentiality be maintained in this role?

You will ensure confidentiality with regard to all compensation details as part of your responsibilities.

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McKinsey & Company

Business Consulting and Services

Consulting
Industry
10,001+
Employees
1926
Founded Year

Mission & Purpose

McKinsey & Company is a global management consulting firm. We are the trusted advisor to the world's leading businesses, governments, and institutions. We work with leading organizations across the private, public and social sectors. Our scale, scope, and knowledge allow us to address problems that no one else can. We have deep functional and industry expertise as well as a breadth of geographical reach. We are passionate about taking on immense challenges that matter to our clients and, often, to the world. We work with our clients as we do with our colleagues. We build their capabilities and leadership skills at every level and every opportunity. We do this to help build internal support, get to real issues, and reach practical recommendations. We bring out the capabilities of clients to fully participate in the process and lead the ongoing work.

Benefits

  • Occupational Accident Insurance

  • Mental Health Care

  • Vision Insurance

  • Health Insurance

  • Life Insurance

  • Flexible Spending Account (FSA)

  • Retiree Health & Medical

  • Disability Insurance

  • Dental Insurance