Fractyl Health

Reports to: Sr. Accounting Manager

Position Summary

We are seeking a detail-oriented and experienced Payroll Specialist to join our team. The Payroll Specialist will be responsible for accurately processing payroll for our employees, ensuring compliance with all relevant regulations and policies. The ideal candidate will have a strong understanding of payroll procedures, excellent mathematical skills, and the ability to maintain confidentiality.

Primary Responsibilities

• Process payroll bi-weekly for US employees accurately and on time, utilizing payroll software and systems.
• Calculate pro-rated wages and deductions, ensuring accuracy and compliance with federal, state, and local regulations, as well as company policies.
• Work with other departments to ensure timely approval of timesheets and PTOs (“Personal Time Off”).
• Collaborate closely with HR department to reconcile payroll changes such as new hires, termination and salary changes.
• Coordinate with employees, insurance company and HR on proper processing of payroll during LOA (“Leave of Absence”).
• Work with external payroll service providers to process payroll globally and provide data to assist local filings as needed.
• Prepare journal entries to record payroll, tax and benefits and prepare monthly payroll-related accrual journal entries.
• Prepare and distribute payroll and headcount reports to management and other stakeholders to facilitate internal and external business and financial reporting.
• Respond to employee inquiries regarding payroll issues, deductions, and benefits, providing excellent customer service and timely resolution.
• Ensure compliance with federal, state, and local payroll tax regulations, including withholding requirements, filing deadlines, and reporting obligations.
• Ensure timely and accurate payroll related filings, including quarterly and annual reports such as W-2 forms.
• Stay informed about changes in payroll laws and regulations and update payroll processes and procedures accordingly.
• Identify opportunities to streamline payroll processes, improve efficiency, and reduce errors.
• Work collaboratively with cross-functional teams, including HR and finance, to implement process improvements and best practices.
• Perform all activities in compliance with applicable regulations, Fractyl’s policies and guidelines, including, but not limited to, timely documentation of activities and maintaining all required applicable training.
• Bring a “can do” spirit to work and deliver on other responsibilities as assigned.

Education or Certification Requirements

• Bachelor's degree in Accounting, Finance, Business Administration, or related field preferred.
• Payroll related professional certification preferred.

Professional Work Experience

• Minimum of 2-3 years of experience in payroll processing
• Hands on working experience with payroll software and systems required.

Qualifications and Experience

• Proficiency with ADP Workforce Now and Microsoft Excel a plus.
• Strong understanding of payroll regulations, tax laws, and compliance requirements
• Strong financial acumen and analytical agility
• Ability to maintain confidentiality and handle sensitive information with discretion

Other Essentials and Key Success Factors

• Successful track record of working in high-growth and dynamic organizations
• Highly organized and detail oriented with a passion to deliver quality results
• Demonstrated record of intellectual curiosity, innovation and creative problem solving with an entrepreneurial spirit
• Ability to lead fast-paced projects with a keen sense of urgency to get the job done well
• Evidence of "hands-on" experience and expertise
• Excellent verbal and written communication skills, with experience translating technical concepts into user-friendly documentation
• Highest levels of professionalism, confidence, personal values and ethical standards

Travel

• Travel is not required for this position at this time.

The description and requirements outlined above are general; additional requirements may apply.