Payroll Specialist

The Opportunity

Headquartered in Toronto, the Building Ontario Fund (BOF) is a new independent, board-governed agency that will facilitate investment by trusted institutional investors in critically needed large-scale infrastructure projects within the province.

The agency’s mandate is to invest in, and seek to attract investment from, qualified institutional investors, public sector entities, governments, and Indigenous communities in Ontario infrastructure projects that will generate revenue and are in the public’s interest. BOF will do this by:

• Investing in infrastructure and appropriately allocating risks amongst the Corporation and other investors
• Structuring proposals and negotiating agreements with investors in infrastructure projects
• Receiving and assessing unsolicited ideas and proposals for infrastructure
• Providing advisory services with respect to financing infrastructure projects

Reporting to the Head, Financial Services and Controllership, the Payroll Specialist will be responsible for the following:

• Verifies, inputs/maintains, and organizes all payroll, pension and benefits information and documentation (i.e., new hires, deductions, salary changes, leave processing, contributions, and terminations).
• Processes other employee changes including pay corrections, retroactive payments and adjustments, severance pay, system terminations, and Records of Employment (ROE).
• Tracks, deducts, and remits all garnishments and other special payroll deductions.
• Provides pension plan administration (e.g., terminations, contribution calculations, changes, manual pension files, T4 adjustments, reports, etc.).
• Provides payroll, pension, and benefits administration throughout the payroll lifecycle from employee induction to termination/retirement.
• Provides group benefits administration (e.g., monthly premium remittance statements, reports).
• Provides attendance reporting administration (e.g., receiving and recording absences, providing vacation and sick credit balances, managing vacation carry-over requests, generating summary reports, etc.).
• Prepares manual cheques and calculations as required.
• Ensures that monthly and year-end regulatory filings are completed on a timely basis.
• Assists with the accuracy and completeness of the salary and wage expense and accompanying disclosure in the BOF’s financial statements.
• Analyzes payroll transactions for consistency, conformity, and compliance with payroll rules, regulations, policies, and procedures.
• Reconciles general ledger accounts, preparation of journal entries and other payroll related accounts.
• Tracks, maintains and analyzes headcount and salaries, wages and benefits reporting.
• Assists with financial reporting and forecasting as related to salaries, wages and benefits and other human resource related expenses.
• Maintains information integrity within the payroll system and ensures accuracy.
• Assists in the preparation of T4s and T2200s for year-end balancing.
• Reports annual vacation carry over balances and calculations of entitlements.
• Compiles statistical and period-end reports, statements, and summaries related to pay and benefits accounts, and reconciling payroll liability accounts.
• Interprets policies and government regulations affecting payroll procedures.
• Investigates payroll issues and employee inquiries, analyzes data from multiple sources/time periods, research internal issues related to issues and takes corrective action.
• Assists with implementation and development of new policies and new systems (e.g., ERP, new payroll managed service).
• Supports BOF’s customer service standards, enabling client success and business/continuous improvement activities.
• Provides support to other areas within the finance department and acts as a backup when needed.

Qualifications

• Degree or Community College diploma in a related field.
• 8 years of full cycle payroll experience.
• Completion of the Canadian Payroll Association Certification Program and/or designated or working towards Payroll Compliance Practitioner (PCP) certification is an asset.

Knowledge and Skills

• Demonstrated in-depth knowledge of payroll plans, payroll systems/software, relevant tax regulations, procedures, and processes.
• Research skills to keep up to date with payroll processing and legislation changes.
• Ability to protect and maintain confidential and sensitive information.
• Ability to process a biweekly payroll.
• Strong analytical and problem-solving skills.
• Strong interpersonal skills and the ability to communicate regarding payroll legislation and issues with staff at all levels.
• Excellent time management skills and attention to detail.
• Ability to develop effective relationships and provide exceptional customer service across all organizational levels.
• Ability to identify problems, review related payroll information, and implement corrective actions.
• Analytical skills to review, assess, and summarize information from payroll systems to incorporate into analysis and reports.
• Use relevant information and individual judgment to determine whether processes comply with legislation/regulations or standards.
• Ability to communicate analysis and recommendations in verbal presentations or written documents.
• Proficient with Microsoft Office (Word, Excel, PowerPoint, SharePoint, Teams) and other internal applications, as required.

Application

• To apply for this position, please email your resume to HR@buildingonfund.ca. We thank you for your interest in the Building Ontario Fund. Applicant selection is based on, but not limited to technical competence, in-depth experience in relevant sectors and educational background. Accommodations are available upon request for candidates with a disability taking part of the recruitment process.
• At Building Ontario Fund, we are committed to diversity, transparency and inclusion. We believe our strength comes from having a team with the right diverse skills and abilities selected through a merit-based competitive process. We actively encourage applications from people regardless of nationality, religion gender, race, disability or sexual orientation.