What are the responsibilities and job description for the Payroll Processor position at Canopy Mortgage?
Description
Payroll Processing & Administration
Qualifications:
Would like to hire on-site, but would consider remote and/or hybrid.
Payroll Processing & Administration
- Process bi-weekly and/or semi-monthly payroll for corporate staff, branch employees, and commissioned loan originators
- Calculate and process:
- Hourly wages and salaried compensation
- Commissions and LO compensation per approved compensation plans, in coordination with Staff Accountant
- Discretionary and non-discretionary bonuses
- Overtime, PTO, and other wage components
- Draws, Advances and Recoveries, including reconciliations of balances due
- Annual taxable stipends and/or other wage gross up activities in accordance with company policies
- Review payroll registers prior to submission and resolve discrepancies
- Enter/create and/or review/confirm timely and accurate entry of all commission and bonus profiles for new employees and existing employee plan changes
- Process LO compensation in accordance with:
- Dodd-Frank and Regulation Z LO Compensation rules
- Company-approved LO compensation plans
- Restrictions on per-loan or transaction-based discretion
- Coordinate with Accounting and Compliance to ensure:
- Commission amounts align with funded loan reports
- No prohibited compensation adjustments are made
- Audit documentation is retained for exams and internal reviews
- Ensure proper withholding and remittance of:
- Federal, state, and local payroll taxes
- Multi-state tax allocations for remote and branch employees
- Login and verify current tax rates (SUI and other) and ensure timely update in Paylocity
- Ensure proper withholding and accruals of Employer and employee paid premiums associated with all employee benefit plans/programs
- Maintain compliance with:
- Wage and hour laws (FLSA)
- State-specific payroll requirements
- Garnishments, levies, and child support orders
- Assist with quarter-end and year-end payroll reporting (941s, W-2s, state filings)
- Respond to employee payroll inquiries professionally and confidentially
- Assist with:
- New hire payroll setup, confirming accuracy & completion
- Termination pay processing, including writing off benefit balances in arrears
- PTO balances and final pay compliance
- Coordinate with HR on benefit deductions, changes, and eligibility
- Maintain payroll files, approvals, and supporting documentation
- Participate timely and wholly in department organizational workflows such as month end checklists, workflow checklists, change management checklists, and other as assigned
- Ensure segregation of duties and adherence to internal control procedures
- Support internal audits, external audits, and regulatory exams as needed
- Identify process improvement opportunities to increase efficiency and accuracy
Qualifications:
- Bachelor’s degree in Accounting or Business related field, or experience in lieu
- 1-2 years of accounting and/or payroll experience, preferably in financial services, mortgage, or banking industries.
- Familiarity with HRIS systems such as Paylocity or similar
- Strong understanding of payroll cycle, commission calculations and/or other mortgage related accounting and payroll procedures.
- Proficient with Microsoft Excel
- Strong organizational skills and attention to detail.
- Ability to meet deadlines, prioritize tasks, and work independently with minimal supervision.
- Strong analytical skills and ability to investigate and resolve discrepancies.
- Excellent communication skills, both written and verbal.
- Standard office environment; remote flexibility may be considered at discretion of management
- Will consider remote candidate
Would like to hire on-site, but would consider remote and/or hybrid.