Payroll Specialist - Workday

Wednesday, February 19, 2025

WHO WE ARE

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage product.

OUR VALUES, OUR PASSION

At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.

• Courage to Act. Do the Right Thing
• One Team. One Vision
• Think Long-Term. Ever-Evolving

POSITION SUMMARY

The Payroll Specialist role holds primary accountability for the effective functioning of all payroll and benefits-related processes for the Bank. It ensures the accuracy of Payroll related programs in the system of record (Workday), and actively participates in various projects and initiatives.

MAJOR ELEMENTS OF THE ROLE

Payroll:

• Coordinates and administers all facets of the semi-monthly payroll process, as per company and legislative requirements.
• Ensure appropriate capture of ongoing commission payments, sales bonuses, expense reimbursements, and taxable benefits.
• Confirm data accuracy and ensure data integrity; investigate and resolve payroll issues; manage risks arising from day-to-day activities, to promote consistent execution of processes and risk management activities.
• Prepare and remit third party payments, including garnishments.
• Prepare Journal entries for Finance.
• Complete all year end filings including preparation of T4, Revele-1, T2200s, other government filings.
• Provide required documentation and samples to external Auditors on Payroll audits.
• Process annual Corporate Bonus payments, including employee GRSP elections from bonus.
• Process employee benefit deductions and taxable benefits on Workday profiles.
• Processing off cycle payroll requirements for hiring, orientation and terminations.
• Process leaves of absence in Workday and complete manual adjustments as required (i.e., short term disability, maternity & parental).
• Calculate appropriate withholdings and deductions for employer specific programs (e.g., RRSP).

Benefits Administration:

• Coordinate the Employee Benefit enrolment process including completing the employee sign-up, by adjusting and updating employee records in the system of record for transfer to Manulife (both GB and GRSP).
• Routine auditing and reviewing benefit eligibility reports for errors or inconsistencies.
• Investigate and resolve employee benefit and payroll issues, by engaging external benefits providers as necessary.

SKILLS AND EXPERIENCE REQUIRED

Qualifications and Technical Expertise:

• Progressive experience administering Payroll.
• Payroll Compliance Practitioner Designation.
• Experience with Workday HCM/Payroll.
• Sound knowledge of MS-Office suite, Excel in particular.
• A University Degree or post-secondary education equivalent to a College diploma.
• Demonstrated understanding of Federal and Provincial employment Legislation and practices.

Attributes:

• Highly detail-oriented and strong organizational skills.
• Strong verbal and written communications skills, and an ability to handle confidential and difficult issues with tact and sensitivity.
• Self-starter, with the ability to show initiative and work independently.
• Hybrid home/office work environment.

WHY WORK AT HOMEEQUITY BANK?

HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.

We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.

A Dynamic Culture – With People at the Centre

We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through various awards.

Growth and Opportunities

We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training.

Celebrating Great Work and People

We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values.

The Perks

HomeEquity Bank offers a competitive total rewards package that includes:

• Extended health and dental benefits.
• Employee & Family Assistance Program.
• Employer-Matched Group Retirement Savings Plan.
• Employee Share Investment Plan.
• Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits.
• Employee corporate discount for GoodLife Fitness.

HomeEquity Bank is committed to an inclusive, equitable and accessible workplace. Accommodations are available on request for candidates taking part in all aspects of the selection process.

Please note that our successful candidate is required to complete a background check.

Stay in the Know

Find out what we’re up to online, and learn more about what makes HomeEquity Bank a great place to work:

Join Us! If you’re ready to build the future of reverse mortgages, we want to hear from you.

• 200 Bay St., Toronto, ON M5J 2J1, Canada