Pension Payroll Manager
Description of business unit
The Pension Payroll section is a key financial function within New Ireland. The team of 3 people are responsible for the payroll processing of weekly, fortnightly and monthly payments for Annuities, ARF and PHI customers. The Payroll Team ensure accurate processing and recording of payroll data. The annuity/ARF payroll has been growing rapidly over the past few years, and we have paid out over €150m in 2021 to over 20,000 customers with further significant growth encouraged in 2022 and subsequent years!
Purpose of the Role
New Ireland Assurance is part of the Wealth & Insurance Division of Bank of Ireland Group
New Ireland Assurance is a leading life assurance company in Ireland and provides life assurance, pensions and investment solutions to individual and corporate customers
The Finance Department is looking for high-reaching and hard-working candidate to work in the Financial Planning and Analysis Team. The role requires strong attention to detail, management of a small team and the ability to work to tight deadlines.
The role involves working with colleagues in the financial reporting and actuarial teams within New Ireland
- Lead and develop a team of 3 payroll specialists.
- To provide an efficient and effective payroll service that provides timely and accurate payments to ARF Clients, Annuitants & PHI Claimants, meets changing business needs and operating strong controls.
- Maintain relationships with the Revenue Commissioners, Tax team, and Intelligo (Payroll systems provider) to ensure continued quality customer service in a risk mitigating and controlled environment. Oversee the preparation review and sign off of monthly and annual PAYE, PRSI and Universal Social Charge returns to the Revenue. Ensuring taxation knowledge is continually updated and processes are compliant with current legislation. Overseeing the processing / balancing 6 payrolls and adhering to the tight deadlines
- Review and sign off all payrolls, control reconciliations and oversee complex processing including year-end rollover and deemed distribution
- Provide weekly and monthly reports for Management through the building and developing of queries from the Payroll databases. Develop and maintain effective customer relations with key business and support area.
- Provide payroll information on request to the Actuarial Valuations team for use in regular Management Accounting
- Oversee and assist in developing Megapay (payroll system) to ensure we are able to handle current and future business demands and legislative requirements. Dealing swiftly with issues as they arise, and escalating where necessary to the Head of FP&A, Tax team and the operations team as appropriate. Ensure documented payroll procedures are in place and that these processes are reviewed and updated regularly.
- Influencing colleagues in finance and operations to ensure reconciliation matters are followed up and items cleared.
What is the opportunity?
This role is an excellent opportunity for an individual with strong numerical, analytical skills to work within and to lead a dedicated team of specialists. This position offers an exciting opportunity for someone wishing to develop a career in accounting, tax, specialise in payroll accounting and gain management experience.
- Qualified accountant (ACCA, CIMA, or equivalent)/ Tax accountant / IPASS qualified
Essential Skills & Experience:
- Operational excellence. Ability to deliver to deadlines in a high volume pressurised environment.
- Strong awareness of business controls and ability to identify and action exceptions. Ability to champion these and interact with management and teams across the company.
- Proven judgement, analysis and decision making skills
Desirable Qualifications, Skills & Experience:
- A strong understanding of the relevant areas of the Irish tax system (PAYE, PRSI & USC etc), and of the Annuity, ARF and PHI products.
- Knowledge of payroll legislation, including an appreciation for future changes and the possible impact of these on a payroll function and of some of the systems used in the process (SAP, Megapay, Bliss, Life400).
- Excellent people management, communication and development skills, in a complex and technical area.
- Previous experience of payroll accounts reconciliation and payroll statutory returns.
- Customer Focused - People Manager
- Accountable - People Manager
- Agile - People Manager
- Champion Transformation - People Manager
- Manage Risk - People Manager
Where Agency assistance is required Bank of Ireland Recruitment Team will engage directly with suppliers. Unsolicited CVs / profiles supplied to Bank of Ireland by Recruitment Agencies will not be accepted for this role.
Bank of Ireland Group is an equal opportunities employer and is committed to fostering an inclusive workplace which values and benefits from the diversity of our workforce.
For further information, and to apply, please visit our website via the “Apply” button below.