at Northern Trust Company in Chicago, Illinois, United States
Job Description
About Northern Trust:
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
Role/ Department: Senior Regional Payroll Consultant/NA Shared Services
The Senior Regional Payroll Consultant will be primarily responsible for the Finance/ GL management of the payroll function. Prepares and/or monitors payroll tax and general ledger accounts/activities and works with Finance to reconcile identified discrepancies including processing/advising on appropriate accounting transactions to balance accounts. They will be part of the payroll team and will assist in performing daily payroll activities to ensure timely, accurate, and compliant payroll production of assigned payrolls including quarterly and year-end activities.
The key responsibilities of the role include:
Prepares and/or monitors payroll tax and general ledger accounts/activities and works with Finance to reconcile identified discrepancies including processing/advising on appropriate accounting transactions to balance accounts
Will assist in performing daily payroll activities to ensure timely, accurate, and compliant payroll production of assigned payrolls including quarterly and year-end activities.
Reviews payroll adjustment requests to ensure proper authorization and compliance with payroll policies, federal, state, and local tax regulations. Advises management of appropriate corrective action when an error occurs.
Responds to payroll inquiries to explain pay, adjustments to pay, and impact of policies, tax law and related changes.
Works with vendors and/or reviews payroll systems or applications to ensure changes submitted are correctly reflected on the payroll. May be responsible for system/application testing (e.g. WD new releases) where applicable
Represent and lead payroll in meetings with internal teams and external vendors e.g responsible for direct interaction with different committees, management and internal/external auditors.
Acquires knowledge of other team members' payroll activities and performs back up support as needed.
Manage payroll projects/ process improvements as required
Coordinate with the payroll team and ADP to perform quarterly reconciliations, filings, amendments, and tax notices.
Researches and monitors regulatory and legislative changes to ensure compliance with federal and state laws and regulations.
Conducts a second review on the works of others and train other team members
Skills/Qualifications:
10 or more years of payroll experience required, preferably in a financial services industry with a finance / GL background
Extensive knowledge of federal, state, and local tax regulations
Must be familiar with all aspects of payroll processing including payroll production, quarterly reconciliations, garnishments, year-end processing, tax filings, etc.
Solid understanding of G/L, payroll accounting, and employment taxes
Attention to detail, ability to work independently and collaboratively, strong organizational skills, and deadline driven
Payroll technical/systems knowledge (e.g., workday preferred)Equal Opportunity Employer - minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity
