Full Job Description
Job Description:
The Team:
India finance team is an exciting and challenging place that manages and / or executes the stewardship, control, reporting, tax compliance and decision support functions for the India region. The team touches almost every operational area of the organization with almost every activity translating into financial actions, implications or decision support.
A gist of various activities performed by the team:
Accounting and validations: Accounts Payable, Accounts Receivables, Revenue accounting and reconciliation, Employee compensation – payroll review, cost accruals and costs accounting, Petty Cash, Expense accounting, Employee reimbursements, Intercompany cross charge, Monthly and periodic reporting Compliances: Income Tax, including corporate tax, transfer pricing, withholding taxes; GST Compliances; RBI compliance and Compliance support to other functions such as secretarial and T&C (other payroll taxes) End to end Payroll processing including employee related statutory compliances (PF/ PT/ ESIC etc) Decision support on various organizational options, providing commercial-legal support Ensuring financial controls and risk management framework Dissemination of financial and management information Budgeting / forecasting Banking operations
Responsibilities:
We are looking to hire a bright, energetic, and driven individual with prior experience of handling end to end payroll for an organization of around 3000 employees. The goal is to provide a seamless experience to employees from a payroll perspective to ensure timely credit of salaries every month
The role will be responsible in a combination of the following activities as assigned from time to time
Payroll
Responsible for payroll processing and ensure timely and accurate processing of payroll transactions including salaries, benefits, taxes, and other deductions including timely full & final settlement of exits
Working closely with our payroll vendor to make sure that salary processing is done as per set timelines
Ensuring timely resolution of employee queries pertaining to payroll and work towards reduction of employee queries through well-defined policies and processes
Develop, implement payroll processes, policies, and procedures to ensure adherence to internal controls, efficiency, and a great employee experience
Working with the payroll vendor to develop, adjust, and/ or enhance payroll systems and procedures to adapt to changes in tax laws, regulations, and our pay policies and compensation initiatives.
Maximize the effectiveness of technologies and supporting processes to drive continuous improvement and change initiatives.
Drive cross functional co-ordinations and communications to help achieve seamless payroll processing
Work closely with global teams on implementation of various payroll processes and employee benefit policies
Responsible for ensuring all the necessary payroll related documents, process maps are duly provided to the internal and external auditors
Compliances
Responsible for Monthly Compliances of PF, ESIC, PT, MLWF, and other compliances that come up under various laws from time to time
Responsible for planning and ensuring smooth and efficient year end processing of employee tax statements including and not limited to investment proof collection and timely issuance of Form 16
Work with Consultant for Labour Law Compliance and keep oneself updated with local statutory requirements by studying existing and new legislation, enforcing adherence to requirements and advising management on needed actions.
Responsible for Liaising with Government authorities – PF, ESIC, Labour office, etc.
Ensure maintenance of all statutory registers required under applicable Labour laws.
Controlling
Review adherence to control processes, identify gaps and rectify.
Review relevance of controls at periodic intervals
Stakeholder management – Ensuring all stakeholders are involved during modifications, changes or challenges in existing processes
Foster relationships with internal stakeholders such as Compliance, Legal, Human Resources, IT etc as well as with our external vendors.
Management information
Generating periodic information as should be relevant from controls and payroll oversight perspective
Supporting the Finance team with details needed on various processes
Team Management
Task and transaction management
Trouble shooting on day to day tasks or questions
Guiding team members on task ownership and communications
Guide and train the team on various aspects of payroll processes, compliance, and drive excellence in execution
Cross train team members to create redundancies and maintain continuity
Requisites:
Functional
Total industry experience of at least 10 years with a minimum of 5-7 years of end- to- end payroll processing experience for companies with 3000+ employees
Process Oriented: Strong understanding of payroll processes and best practices. Excellent management and organizational skills
Adept to interacting with and understanding a global audience
Thorough knowledge of payroll- related state, legal, tax, and compliance requirements
Logical, analytical and process oriented
Experience with payroll system implementation is highly preferred. Advanced level experience in working with HRIS and advanced Excel a strong plus
Soft skills
A team player – ability to manage the team through coordination rather than coercion
Change Management – Ability to lead, influence and effectively communicate cross- functionally in a fast- paced, growing and ever- changing environment
Result Oriented – Ability to draw to conclusions, Ability to provide solutions
Organized – Planning the execution before due dates
Communications – The incumbent needs to have excellent communication skills to be able to explain aspects in a clear and timely fashion.
Ability to collaborate across teams and work with leaders to get their buy-in on various process improvement initiatives
A proactive, high energy attitude geared towards achieving continuous improvement and strong zeal to constantly look for ways and means to improve the ‘way we work’
Ability to influence and collaborate cross-culturally with diverse individuals and teams
Qualifications
A Bachelor degree in Human Resources/ Finance with relevant experience in payroll.
Morningstar is an equal opportunity employer.
I10_MstarIndiaPvtLtd Morningstar India Private Ltd. (Delhi) Legal Entity