Job Information
Federal Reserve System Payroll Analyst in Richmond, Virginia
Company
Federal Reserve Bank of Richmond
When you join the Federal Reserve—the nation's central bank—you’ll play a key role, collaborating with a dynamic and diverse team of mission-driven professionals to strengthen and protect our economy and our communities.
Bring your passion and expertise, and we’ll provide the opportunities that will challenge you and propel your growth—along with a wide range of benefits and perks that support your health, wealth, and life. In addition to competitive compensation, we offer a comprehensive benefits package that includes tuition assistance, generous paid time off, top-notch health care benefits, child and family care leave, professional development opportunities, a 401(k) match, pension, and more. All brought together in a flexible work environment where you can truly find balance
About the Opportunity
The System Payroll department has an immediate opening for a Payroll Analyst. In this role, you will be responsible for administering day-to-day payroll processing which includes maintaining and auditing all payroll related tasks in Workday for assigned Districts across the Federal Reserve System. (approximately 21,000 employees). You will be responsible for processing semimonthly payroll for moderately complex payrolls while ensuring compliance with US and local state regulations as well as assigned District's unique payroll policies and procedures. Additionally, you will provide consultation to customers by performing research and analysis of data to solve problems of varying complexity. This role will report to the Payroll Manager.
What You Will Do:
Use Workday and Perspective Concepts (ImageNow) to ensure the accuracy of payroll, verifying payroll data integrity and analyzing payroll performance.
Identify, troubleshoot, and resolve payroll issues. Document resolutions for process improvements going forward.
Perform complex analysis of major business issues and proactively search for and recommend sustainable solutions utilizing established methodology and tools.
Review, compile and analyze detailed and complex statistics and data for major business issues, providing guidance and collaboration in completing analysis, information, or process mapping.
Build relationships with key stakeholders by assessing, evaluating, and fully understanding the needs and requirements of each District. Partner with key stakeholders to address business needs and issues proactively.
Lead process improvement projects, participate in System initiatives, and present outcomes and actionable recommendations to senior management.
Contribute to the development and design of new business processes, suggest improvements to current business processes, and raises issues before they become challenging to fix.
Monitor the environment for new or potential risks and evaluate implications of risks on payroll processes, policies, or practices.
Review payroll changes, regulations, and laws to determine appropriate handling in accordance with payroll practices and policies and execute action; Provide guidance to local payroll functions based on changes and assist with communication and implementation.
Provide oversight, direction, and expertise to local payroll functions and drive standardization.
Maintain up-to-date knowledge of unique payroll policies and procedures for the System.
Participate in cross-training for new or existing staff.
Qualifications:
Associate or Bachelors degree in Accounting or Finance preferred or equivalent experience.
3-5 years’ prior payroll experience including multi-state payroll processing for large organizations
Workday knowledge required.
Fundamental Payroll Certification (FPC) from American Payroll Association or Certified Payroll Professional (CPP) preferred.
Critical thinking, data analysis and presentation skills
Proficient interpersonal skills and ability to work with people at all levels of the organization
Requires creativity, innovation, and initiative to research and recommend operational changes
Advanced Excel and PowerPoint skills required
Discover the Reason Why So Many People Love It Here!
When you join the Richmond Fed, not only will you find a challenging and purposeful career, you will also have access to a wide range of benefits and perks that support your health and wealth including:
Hybrid Work Environment
Great medical benefits
Pension and 401(k) with employer match
Paid time off
Tuition reimbursement
Employee resource networks
Paid volunteer leave
Onsite amenities that make working here fun
Other Requirements and Considerations:
Candidates should review the Bank’s Employee Code of Conduct (https://www.richmondfed.org/-/media/richmondfedorg/about_us/careers/pdf/code_of_conduct.pdf?WT.si_n=Search&WT.si_x=3) to ensure compliance with conflict of interest rules and personal investment restrictions.
If you need assistance or an accommodation due to a disability, please notify rich.recruitment@rich.frb.org .
Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to, requirements to vaccinate or test, mask, social distance, etc.).
Sponsorship is not available for this role. Selected candidate is subject to special background check procedures.
Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications/experience.
The hiring range for the Payroll Analyst is:
Associate: $55,000 – 65,000 annually
Intermediate: $63,000 – 80,000 annually
Applications are reviewed on a rolling basis.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Analytical
Work Shift
First (United States of America)
The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.
Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)
OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.
OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.
Why Our People Choose Us:
Our reputation precedes us
There will always be room for personal growth
Our people are first
You’ll find the right balance
Your responsibilities will be meaningful
We hope that you will be our future colleague.