Payroll Director Job Profile and Description
Payroll directors have to posses all knowledge about the payroll regulations and they have to direct, organize, evaluate and control the personnel and processes related to payroll functions. They head the payroll department of a company.
They also have to look after the staff goodwill in a company and often advise the management about the steps that could be taken to better staff welfare. In some companies the payroll director has to assume greater HR responsibilities.
Payroll Director Duties and Responsibilities
The typical duties and responsibilities that a financial director has to discharge are as follows:
- Directing and managing payroll organization for providing accurate and timely processing of the payroll for ensuring the integrity of financial accounting system.
- Controlling all payroll processing objectives.
- Corporate payroll planning and strategy and communication, marketing, payroll function and related services.
- Establishing requirements for the internal control and procedures for protecting the assets of the company and determining new procedures and controls for addressing the company’s growth.
- Interacting on a regular basis with the senior management and external customers for integrating solutions that address the company’s goals.
- Establish payroll strategy and vision for aligning with the shared services, zone consolidation and other corporate initiatives.
- Support the payroll management for resolving all the payment issues with benefits, human resources, consultants, technical resources etc.
Payroll Director Skills and Specifications
The typical skills and specifications required from a payroll director include the following:
- Managerial skills and the ability to motivate and manage others’ performance.
- Superb multi-tasking and organization skills as well as written and verbal communication skills.
- Knowledge of the generally accepted payroll and accounting principles.
- Knowledge of the state and federal laws that govern reporting of wages, taxation, employee benefit administration, laws governing garnishments, withholds from wages, taxation and reporting requirements etc.
- Knowledge of MS Office, financial packages and various other payroll management softwares.
- Overtime required during a critical period including quarterly and annual reporting and closing the related government filings.
Payroll Director Education and Qualification
Common educational qualifications required from a financial aid director are as follows:
- A bachelors’ degree in commerce with accounts or finance as major.
- An MBA degree is of added advantage.
- Over seven years’ experience in payroll management and three years’ experience in managing staff.
Payroll Director Salary
A payroll director is usually paid an average annual salary of $84,000.