Payroll Analyst

About the role

Palomar is a rapidly growing and innovative insurer focused on providing specialty insurance to residential and commercial customers. The Payroll Analyst role is part of the People & Talent team and is responsible for the accurate and timely processing of multi-state and multi-entity payroll while supporting the administration of employee equity programs.

What will you do

• Payroll, Tax & Financial Administration
• Process bi-weekly payroll for all employees (multi-entity and multi-state), ensuring accuracy and timeliness
• Process and validate equity-related payroll transactions (e.g., vesting events, exercises)
• Validate payroll inputs including new hires, terminations, compensation changes, bonuses, and deductions
• Avoid errors in the calculation, withholding, and remittance of federal, state, and local payroll taxes
• Maintain compliance with multi-state payroll tax regulations and wage and hour laws
• Manage tax setup and maintenance in payroll systems, including jurisdiction codes and employee profiles
• Serve as the primary contact for payroll questions, tax notices, inquiries, and audits
• Journal Entries & Financial Reporting
• Prepare and post payroll-related journal entries, including wages, taxes, benefits, and equity transactions
• Reconcile payroll registers to general ledger accounts on a regular basis (e.g., wages, tax liabilities, benefit deductions)
• Support audits by providing payroll reconciliations, journal entry support, and documentation
• 401(k) Administration
• Process and validate employee 401(k) contributions (pre-tax, Roth, catch-up) through payroll
• Reconcile payroll deductions to vendor reports and general ledger accounts
• Administer 401(k) loan repayments through payroll, including setup, adjustments, and tracking
• Monitor IRS contribution limits and ensure compliance within payroll
• Support 401(k) audits and Form 5500 processes by providing payroll data and reports
• Partner with benefits and vendors to resolve discrepancies and participant issues

What we are looking for

• Education & Experience
• Bachelor’s degree in Accounting, Finance, HR, or related field (or equivalent experience)
• 3–5+ years of payroll experience, including multi-state payroll processing
• Technical Skills
• Proficiency in payroll systems, preferably Rippling
• Strong Excel skills (reconciliations, data validation, reporting)
• Familiarity with equity platforms and 401(k) systems (e.g., Ascensus) preferred
• Core Competencies
• High attention to detail and data accuracy
• Strong analytical and reconciliation skills
• Knowledge of payroll tax, accounting, equity taxation, and retirement plan fundamentals
• Ability to manage sensitive and confidential information
• Strong cross-functional communication skills

Benefits

• Full Suite of Medical Benefits
• Long Term Financial Incentives – STOCK!
• 401k with 3.5% Automatic Fully Vested Employer Contributions
• Competitive PTO + Holiday Program
• Lifestyle Spending Allowance
• Professional Development Assistance
• Career Exploration Opportunities
• Regular company-wide social events (even virtually!)

Diversity at Palomar

Palomar is committed to diversity, equality, and inclusion in all aspects of the organization. We celebrate the diversity of our workforce and promote equality and inclusion practices that make us a company people want to work with and work for.