Financial Analyst

About the role

As a Mid-to-Upper-Level Financial Analyst, you will independently evaluate payroll processes, records, controls, and reporting to ensure compliance with applicable laws, regulations, company policies, and contractual requirements.

Responsibilities

• Plan, scope, and conduct payroll compliance assessments.
• Review payroll registers, timekeeping records, wage statements, tax filings, benefit deductions, labor distribution records, and supporting documentation.
• Verify the accurate calculation and payment of regular wages, overtime, shift premiums, differentials, bonuses, commissions, leave pay, and other compensation.
• Test compliance with federal, state, and local wage-and-hour laws, including minimum wage, overtime, meal/rest break, pay frequency, wage statement, and final-pay requirements.
• Assess compliance with prevailing wage, certified payroll, Davis-Bacon, Service Contract Act, or similar requirements when applicable.
• Review employee classifications, including exempt/nonexempt status, employee versus independent contractor designations, job classifications, and pay-rate determinations.
• Validate payroll tax withholding, reporting, deposits, and reconciliations, including federal, state, and local requirements.
• Evaluate the accuracy and authorization of payroll deductions, garnishments, benefit contributions, retirement-plan deductions, and union dues.
• Internal Controls and Risk Assessment: Evaluate payroll-related internal controls for adequacy, effectiveness, segregation of duties, and compliance with established policies; identify payroll risks, control gaps, process weaknesses, potential fraud indicators, and instances of noncompliance; perform risk assessments to prioritize assessment activities and recommend appropriate assessment scope and testing methodologies; analyze payroll data to identify anomalies, trends, duplicate payments, improper access, unusual adjustments, unapproved pay changes, and other exceptions; assess system access controls and change-management practices affecting payroll and timekeeping systems.
• Reporting and Corrective Action: Document assessment procedures, evidence, findings, conclusions, and recommendations in clear, complete, and well-supported workpapers; prepare formal assessment reports that communicate findings, root causes, risks, financial impact, and recommended corrective actions; present assessment results to payroll leadership, finance, human resources, legal, internal assessment, and operational management; track corrective-action plans and perform follow-up reviews to verify that deficiencies have been addressed effectively and sustainably; escalate significant compliance concerns, suspected fraud, or material financial exposure through appropriate reporting channels.