Manager, Payroll, Pension and Benefits

Manager, Payroll, Pension and Benefits

Appointment Type : Full Time, Permanent, Hybrid, On site 3 days per week

Compensation : Job Band : PM4 $82,994 - $129,201 Hiring Range : $ 82,994 - $106,097

Competitive benefits package, including group benefits, defined benefit pension plan, tuition waiver, and generous vacation time allotment.

Reports to : Assistant, Director of Finance

About Trinity College :

Trinity College is a vibrant and diverse academic community with a rich history and an excellent local and international reputation.

Since its founding in 1851, the College has valued and fostered a high level of academic achievement with some 2,000 currently registered students, 450 of whom live at the College.

The Trinity College campus grounds comprise spectacular historic buildings. The College is the smallest college on the St.

George Campus of the University of Toronto, located in the central Toronto downtown core, steps from the Bloor St.

George subway station and Queen’s Park.

Position Summary :

The Manager, Payroll, Pension and Benefits, is responsible for overseeing the payroll, benefits and pension administration functions for Trinity College (the College ).

As a member of the College’s Finance team, this position ensures that all aspects of the bi-weekly and monthly payroll cycle for 350 full time, part time and casual employees and benefits administration are processed in a timely and accurate manner ensuring adherence to the College’s policies, collective agreements, as well as federal and provincial legislation.

Reporting to the Assistant Director of Finance, this position is responsible for maintaining proper controls and privacy over payroll data.

This role is an internal subject matter expert on payroll, pension and benefits processing and supporting systems. The Manager, Payroll, Pension and Benefits is a primary contact for internal & external stakeholders.

Key Responsibilities :

Payroll Operations

The incumbent will have direct responsibility to lead and oversee the accurate and timely processing of payroll for all employees including :

• Management, implementation and execution of all payroll functions including : maintaining payroll records, ensuring timely payments to all employees, reconciling all payroll records to source documents, maintaining appropriate tax and other legislative files, administration of the employee benefit program, ensuring accurate and timely submission of ROEs and issuing of annual tax slips and filings.
• Lead the evaluation and integration of new payroll technologies to streamline operations, with a focus on automating routine process to enhance efficiency
• Responsible for ensuring payroll system appropriately tracks and records payroll data and the implementation, testing and maintenance of payroll system changes and upgrades.
• Update and document payroll processes and internal controls to standardize input and processes across departments promoting efficient workflow and reliable data.
• Month end reporting duties including preparation and posting of journal entries into the general ledger and completion and review of monthly account reconciliations.

Ensures salaries are recorded to proper departments and that cost recovery, stipends and other funding of salaries is tracked and collected.

• Prepare, reconcile and submit year-end payroll filings and reports; completes T4s, T4As, T4ANR’s and other government required reporting relating to payroll.
• Maintains payroll records, including employee files, and documents and ensures compliance with regulations.
• Create, update and maintain all payroll department policies / procedures and documentation as required
• Prepare payroll budget schedules, annual reports, year-end variance explanations and other management reports.

Pension Plan

Plan, manage, control and monitor all aspects of the pension plan ensuring operational oversight and leadership of the pension plan. Including :

• Coordinates the effective day-to-day administration of the pension functions : ensuring pension plan expenses are paid in a timely manner through the custodian, onboards employees, calculates member contributions and remits employee and employer contributions to the custodian, requests member termination and retirement options from Actuaries, tracks and updates member data, ensure compliance with regulatory requirements and records pension financial transactions.
• Oversee the collection of pension option decisions on a timely basis, including follow up activities, and enforcement of deadlines communicated to members
• Monitors pension plan investment performance and cash flow. Prepares cash flow forecast and Initiates investment withdraws when necessary.
• Generate and review member data files and financial information sent to the Actuary for the purposes of preparing valuations, annual accounting report, member annual statements, member option statements, pension adjustment and other required documents and respond to Actuary’s data inquiries
• Ensures Financial Services Regulatory Authority of Ontario (FSRA), Pension Benefit Act (Ontario) and other regulatory requirements are completed and submitted on time, such as AIR, PBGF, Audit Pension Fund Statement, Investment Information Summary (form 8), Summary of Contributions, Pension assessment invoice, filing of amendments, etc.
• Maintains pension plan records, including member files, and documents and ensures compliance with regulations.
• Prepares the annual Pension Plan financial statements. Acts as primary resource for external auditors.
• Assists with completion of reports and analysis as needed (budget preparation, Pension Committee meetings, etc.)

Benefits

Coordinates the effective administration of the benefit coverage functions : ensuring benefit rates in ADP are current and accurately calculates benefit deductions, utilizes ADP to monitor retirement dates, contract terms or rate change dates, and contact Benefit Providers regarding new hires, changes to employee coverage (change in salary, marital status, etc.

terminations and personal information (beneficiaries, address, etc.).

• Liaise with GreenShield regarding retiree benefits including ensuring retired employees are registered to the correct benefit plan group, ensuring changes in employee information are provided to GreenShield and added to employee files, and that premiums paid by the College reconcile to the College’s plan membership records
• Prepare monthly reconciliations and remittances and ensures payments are received by benefit providers on time.
• Field inquiries from staff regarding benefit plan costs; assists employees in making changes to their information and benefit coverage.
• Month end reporting duties including preparation and posting of journal entries into the general ledger and completion and review of monthly account reconciliations.

Other

• Participate in on-going professional development to maintain current knowledge base related to payroll, pension, benefits, information systems and financial management.
• Develop policies, procedures and strategies to improve financial controls, efficiencies and productivity, and avoid financial risk and loss to the College.
• Liaise with HR colleagues as required to ensure understanding of policies, practices and legislation.
• Participate in special projects to facilitate continuous improvement and improved business practices. Actively identify and lead process improvement strategies and cross functional projects
• Provides backup for certain functions in the finance department.
• Ad hoc analysis & reporting for all levels of management.
• Other duties that may be assigned.

Educational and Experience requirements :

Post-secondary education in payroll / human resources / finance or an equivalent combination of education and experience.

Must be in possession of a Payroll Leadership Professional (PLP) designation or currently enrolled in National Payroll Institute courses leading towards the PLP designation and have the Payroll Compliance Practitioner Certification.

Benefits designation an asset.

• A minimum of 8 years’ related experience in a payroll and benefits position, preferably in a university environment or a large public sector organization
• Working knowledge of ADP Workforce Now
• Knowledgeable of the Pension Benefits Act, the Employment Standards Act, FSRA pension regulations and CRA regulations and requirements.
• Experience overseeing the payroll function and full-cycle accounting, month-end, quarter-end and year-end closing is crucial.
• Experience processing payroll and reconciling payroll in payroll system (such as ADP) and financial information systems is essential.
• Experience preparing and generating detailed financial reports, and interpreting and applying financial policies.
• Experienced people leader with a customer focus and mindset

Skills and Attributes :

• Ability to work with minimal guidance and to manage multiple demands
• Ability to prioritize tasks and adhere to strict deadline
• Solid understanding of payroll-related accounting functions
• Excellent communication and conflict resolution skills
• Excellent financial management, organizational, planning, project management and analytical skills.
• Strong computer skills with advanced proficiency in Word, Excel and Power Point.
• Advanced knowledge of finance and accounting.

Submit resume and covering letter to : [email protected]

Please reference Job #2023 -06 Manager, Payroll, Pension and Benefits in the email subject line.

Job posting closing date : July 8, 2024 at 4 : 00 p.m.

Trinity College is committed to Employment Equity and Diversity based on merit, transparency, accessibility, and inclusion ensuring that all candidates are given a fair opportunity.

If you need this job posting in an alternative format or if you require accommodation measures, please contact us at trinity.

[email protected] and we will work with you to meet your needs at every stage of the recruitment and selection process.