Position: Payroll Associate (Associate)

Position Summary

Karuna is seeking an experienced and motivated Payroll Associate to join our rapidly growing organization. Reporting to the Manager of Payroll and Equity, this critical position will be responsible for performing tasks related to payroll, accounting, tax reporting, equity management, and adhering to internal controls. The position will require outstanding written and verbal communication skills given the role's direct exposure to individuals across all business functions of Karuna as well as numerous third parties.

Responsibilities

• Support semi-monthly payroll process, including: preparation of semi-monthly payroll, obtaining and documenting necessary approvals, and maintaining supporting documentation.
• Ensure payroll procedures are in line with federal and state laws and regulations.
• Provide information and answer employee questions about payroll-related matters.
• Coordinate with HR team to enter employee information for new hires in Paylocity, our payroll software, and monitor changes for existing employees.
• Preparation of select accounting entries and balance sheet reconciliations as related to payroll and benefits.
• Coordinate with Paylocity to ensure all payroll-related tax filings are completed timely and accurately and resolve any issues.
• Participation in other month, quarter, and year end close activities as necessary, such as annual tax reporting.
• Prepare payroll and benefits data analysis and reporting as necessary, including with respect to annual employee compensation summaries and government reporting.
• Assist with equity management responsibilities, including recording new option grants and processing stock option exercises.
• Support the audit process by providing required payroll records and other documentation.
• Assist with ad-hoc assignments and special projects.

Required Qualifications

• Minimum 2-3 years of experience in payroll function or similar role.
• Bachelor's degree in accounting, finance, or other relevant area from an accredited university.
• In-depth knowledge of federal, state, and local laws and regulations as related to payroll and taxation.
• Experience with Paylocity is preferred but not required.
• Basic understanding of accounting concepts, US GAAP and internal controls.
• Strong organizational skills, time management, and prioritization ability.
• Advanced proficiency in Microsoft Excel.
• Proficiency in Microsoft suite of products, including Outlook, PowerPoint, and Word.
• Excellent verbal and written skills, allowing for an open and effective dialogue throughout the company.
• Attention to detail and quality are critical to success.
• Highly accountable for the results and outcomes of their responsibilities and understands the impact of their efforts, results, and attitudes on others.
• Uses teamwork to work cooperatively toward the most effective solutions, championing the best ideas of team members, and assisting where help is needed yet is capable of highly independent work when efficiency is required.
• Results-oriented individual who is highly motivated, decisive, flexible in thought, and has the creativity to excel in and contribute to a rapidly growing company.
• Forward thinking mindset with the ability to manage multiple projects, and identify and resolve issues.
• Broad experience in an emerging, publicly traded company environment is a plus.

The successful candidate will also embody our values:

Our purpose is to create value for those we have the privilege to serve:

• We take pride in our work
• We keep our promises and deliver
• We are driven to meaningfully innovate
• We succeed through inclusion and teamwork

Karuna Therapeutics is committed to equal opportunity in the terms and conditions of employment for all employees and job applicants without regard to race, color, religion, sex, sexual orientation, age, gender identity or gender expression, national origin, disability or veteran status.

Karuna Therapeutics requires all employees be fully vaccinated by an approved vaccine against COVID-19, including a booster dose if it has been more than eight months since the employee's original vaccination, unless you need an exemption due to disability, pregnancy or conditions related to pregnancy or religion or unless otherwise provided by law; in the case of exemption, weekly testing will be required.