Senior Manager, Compensation Accountant

About the role

CHANEL is looking for a Compensation Accountant to join our Finance Team in Piscataway, NJ.

Responsibilities

• Reconcile payments made through the UKG payroll system to general ledger, ensuring all transactions are properly recorded
• Record and review accruals for salaries and payroll taxes earned but not paid
• Record and review accruals for annual bonuses and long-term incentives (LTI)
• Liaise with HR and Finance leaders to stay informed of employee agreements and arrangements that may require specific accruals
• Conduct monthly reconciliation of deferred compensation accounts
• Perform health and life insurance account reconciliations and related entries
• With support from 3rd party actuaries, record necessary entries to properly account for defined benefit pension plans and analyze results to provide management with updates on plan activity and funding status
• Aid financial planning teams in understanding variances between budgets and forecasts
• Support financial planning teams in understanding variances between budgets and forecasts
• Prepare separate financial statements for the company’s defined benefit pension plan, ensuring accuracy and compliance with relevant accounting standards
• Lead the audit process for the defined benefit plan’s financial statements, collaborating with external auditors as needed
• Complete and file Form 5500, working with 3rd party administrators and actuaries to ensure timely and accurate submission
• Maintain thorough documentation of financial flows and assess internal controls related to compensation accounting and reporting
• Proactively identify compliance gaps or risks and recommend improvements to compensation accounting processes and controls
• Understand the data flow and reconciliation between UKG, Workday and SAP as well as data flows with 3rd party partners (i.e., AON – actuary, Fidelity – benefit administrator)
• Participate in the upcoming transition from SAP to Microsoft Dynamics 365, including testing, data migration and process documentation for compensation-related modules

Qualifications

• Bachelor’s degree in Accounting, Finance or a related field (CPA highly preferred)
• 5+ years of experience in accounting, payroll or compensation administration
• Experience with UKG (payroll system), Workday (HR system) and SAP (accounting system) is preferred; familiarity with Microsoft Dynamics 365 a plus

Skills

• Strong knowledge of compensation structures, payroll systems, benefits accounting and payroll tax regulations
• Excellent analytical skills, attention to detail and the ability to handle confidential information with maturity
• Ability to collaborate and communicate effectively across internal departments and with external partners
• Experience in process improvement and risk assessment within compensation accounting

Benefits

• Wellbeing resources including dedicated paid time off for wellbeing (2-week August office closure and a Wellbeing fund)
• Family and care giving benefits (inclusive of parental leave, fertility support, MilkStork, and Care.com Membership)
• Generous paid time off policies to include vacation, holiday, sick and volunteer days
• 401K and other incentives
• Robust healthcare offerings; medical, dental, vision, MDLIVE (virtual care), One Medical, Flexible Spending Accounts (Health Care & Dependent Care), Health Savings Account and Employee Assistance Program
• Life insurance, Accidental Death & Dismemberment, Short Term Disability, Long Term Disability, Health Advocate, International Business Travel Accident & Medical, and Commuter Transit & Parking
• Additional benefits include additional paid time off, flexible spending accounts, and a variety of wellness programs

Pay

The anticipated base salary range for this position is $87,500 through $150,000. Base salary is one component of the total compensation for this position. Other forms of variable pay [may/will] be offered for this position. Other components [may/will] include bonus potential, benefits, and/or perks.

Schedule

This position is partially remote, requiring a minimum of three days in-person office presence at our Piscataway, NJ office.