Payroll Processor
Canopy Mortgage is a company specializing in mortgage services, and they are seeking a Payroll Processor to manage payroll processing and administration. The role includes calculating and processing payroll, ensuring compliance with regulations, and providing employee support regarding payroll inquiries.
Responsibilities
- 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
Skills
- 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
Company Overview