Assistant Vice President - Payroll/Compliance & Governance

Work from Home opportunity only for Mumbai based Candidates

As an Assistant Vice President (AVP) of Payroll, Compliance & Governance, the primary responsibility will be to oversee and manage payroll processes while ensuring compliance with Indian labor laws and regulations. The role will lead a team to ensure accurate and timely payroll processing for employees across multiple locations in India.

Key Responsibilities:

Payroll Management:

- Oversee the end-to-end payroll process, including salary calculations, reimbursements, deductions, and statutory compliance.

- Ensure payroll accuracy and timely disbursement to employees.

- Handle complex payroll transactions such as bonuses, incentives, and special allowances.

- Implement best practices for payroll processing to improve efficiency and accuracy.

Compliance Management:

- Stay updated on changes in labor laws and regulations and ensure payroll processes are updated accordingly.

- Conduct regular audits to ensure payroll compliance and address any discrepancies.

- Manage statutory compliance related to payroll, including tax deductions (TDS), provident fund (PF), employees' state insurance (ESI), professional tax (PT), and other statutory requirements.

- Coordinate with finance and legal teams to ensure adherence to statutory requirements and timely filing of returns.

- Handle inspections and audits by government authorities related to payroll and compliance matters.

Vendor Management:

- Oversee relationships with payroll service providers, tax consultants, and other third-party vendors.

- Ensure service level agreements are met and vendors comply with regulatory requirements.

- Manage relationships with benefits vendors, brokers, consultants, and wellness partners to ensure high-quality service delivery and cost-effectiveness.

- Negotiate contracts, evaluate vendor performance, and monitor service levels to optimize benefits administration and well-being program delivery.

Assistant Vice President - Payroll, Compliance & Governance

Employee Relations:

- Address employee queries and concerns related to payroll, deductions, and tax calculations.

- Provide guidance and support to employees on payroll-related matters.

- Collaborate with HR to resolve payroll-related issues and ensure employee satisfaction.

Training and Development:

- Conduct training sessions for payroll staff and HR teams on payroll processes, compliance requirements, and updates in labor laws.

- Keep the team updated on changes in statutory regulations and payroll policies.

- Encourage continuous learning and skill development within the team.

Policy Governance:

- Develop, review, and update HR policies and procedures in compliance with legal requirements, industry standards, and organizational objectives.

- Establish processes for policy dissemination, communication, and training to ensure understanding and compliance among employees and managers.

- Conduct regular audits and assessments to monitor policy adherence, identify gaps or areas of risk, and implement corrective actions as needed.

Benefits Administration:

- Lead the design, implementation, and administration of employee benefits programs, including health insurance, retirement plans, wellness initiatives, and voluntary benefits.

- Conduct regular reviews of benefit offerings, market trends, and employee feedback to ensure competitiveness and relevance.

- Collaborate with internal stakeholders, benefits vendors, and brokers to evaluate and enhance benefits offerings, ensuring they meet the diverse needs of our workforce while remaining competitive in the market.

Qualifications and Experience:

- Bachelor's degree in finance, Accounting, Human Resources, or a related field. Additional certifications in payroll management or taxation are preferred.

- At least 8-10 years of experience in payroll management, with a minimum of 3-5 years in a leadership role.

- Thorough knowledge of Indian labor laws, tax regulations, and statutory compliance requirements.

- Experience in managing payroll for a large workforce across multiple locations in India.