Payroll Manager – Human Resources Location: Chicago, IL Full/Part-Time: Full-Time FLSA Status: Exempt Equal Employment Opportunity Employer Salary Range: $135,000 - $155,000 Loop Capital is a full-service investment bank, brokerage, asset management and advisory firm that provides creative capital solutions for corporate, governmental, and institutional entities across the globe. Loop Capital and its affiliates serve clients in fixed income asset management, corporate and public finance, financial advisory services, tax exempt and global equity sales, trading and research, analytical services and financial consulting services. Loop Capital values diversity and inclusion, professional growth opportunities, purpose driven work and a collaborative and innovative culture. Loop Capital offers a comprehensive benefits plan which includes medical, dental, vision, disability and life insurances; Paid Holidays; Paid vacation, sick and personal days; and retirement plan. Position Summary: Owns day-to-day payroll administration and ensures accurate, timely and compliant payroll processing across multiple states and entities. Essential Duties and Responsibilities: Payroll Administration - Personally manage end-to-end payroll processing for salaried, hourly, commissioned, and other designated employee groups across multiple states, legal entities, and payroll schedules.
- Maintain payroll calendars, approvals, and deadlines to ensure accurate and timely processing in a current pay environment.
- Validate and process new hires, terminations, compensation changes, leaves of absence, and other employee changes affecting payroll.
- Administer monthly commissions, annual and discretionary bonuses, off-cycle payments, retroactive adjustments, reversals, voids, and payroll corrections.
- Process employee deductions and garnishments accurately and in accordance with applicable requirements.
- Oversee spreadsheet-based timesheets and other manual timekeeping inputs for hourly and nonexempt employees until an integrated timekeeping solution is implemented.
- Respond promptly and accurately to employee payroll inquiries and serve as an HR resource on the payroll implications of compensation decisions, leaves of absence, and terminations.
Compliance, Controls, and Reporting - Coordinate payroll tax setup, withholding, reporting, and issue resolutions across applicable federal, state, and local jurisdictions.
- Establish, maintain, and improve pre-processing, processing, and post-processing payroll controls and reconciliations.
- Review headcount, gross wages, net pay, taxes, deductions, commissions, bonuses, employer costs, and other payroll activity to identify and resolve discrepancies.
- Manage quarterly and year-end payroll activities, including balancing, tax reporting, Form W-2 preparation, and corrections.
- Coordinate payroll audits and serve as the primary point of contact with tax authorities, external auditors, and payroll-related service providers.
- Provide audit documentation, explanations, reconciliations, and corrective-action support.
- Document payroll procedures, workflows, dependencies, controls, approvals, escalation points, and recurring deadlines.
- Maintain the confidentiality and security of employee and payroll information.
Payroll Accounting and Benefits - Manage payroll-related general ledger accounts, including payroll liabilities, compensation expense, and benefits accruals, in partnership with Finance and Accounting.
- Research and resolve payroll-to-general-ledger differences and support accurate payroll accounting.
- Serve as the primary payroll partner to HR for benefit elections, enrollment changes, and employee deductions; coordinate provider billing and enrollment reconciliations.
- Manage 401(k) payroll responsibilities, including employee contributions, employer match calculations, reporting, and monitoring against applicable plan provisions and contribution limits.
- Support the annual retirement plan audit and Form 5500 reporting.
- Support compensation, benefits, and headcount budgeting and forecasting.
Systems and Process Improvement - Maintain and optimize payroll and HRIS systems, including supporting implementations, upgrades, integrations, and automation initiatives.
- Evaluate current practices and implement improvements that strengthen accuracy, consistency, efficiency, internal controls, and auditability.
- Partner with HR, Finance, Accounting, Legal, and IT on payroll, compensation, tax, benefits, and related compliance matters.
Qualifications: - Bachelor’s degree required.
- Certified Payroll Professional (CPP) preferred
- Minimum of 5 years of end-to-end payroll experience
- Excellent verbal and written communication skills
- Strong multi-state payroll knowledge
- Self-motivated, accountable, and eager to learn in a collaborative, entrepreneurial environment.
- Proficiency with Microsoft Office and familiarity with HCM platforms preferred.
Loop Capital is an equal opportunity employer. All qualified applicants will receive consideration without regard to race, color, religion, sex (including pregnancy, sexual orientation and gender identity), national origin, age, disability, genetic information, protected veteran status, or any other status protected by applicable federal, state or local law. For reasonable accommodations during the hiring process, contact HR@LoopCapital.com. Loop Capital considers qualified applicants with arrest or conviction records for employment in accordance with applicable federal, state and local fair-chance hiring laws.
|