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Job Summary:
The primary responsibility of Payroll Supervisor is to make sure entire payroll processing team is functioning per Internal Control processes which affects payroll, tax and other finance requirements ensuring Korea’s payroll related policies and procedures are complying with company global guidelines.
This position serves as a leader within the payroll team and is to supervise 1 – 2 payroll processors who will be assisting and contributing to the payroll improvement process to ensure correct controls over payroll, social security, personal tax withholding and compensatory benefits practices are followed.
Key Responsibilities:
• Oversee the function and check the results. Making sure all payroll modifications (new employees, terminations, LOA, employee personal modifications etc.) are correctly processed
• Participate on resolution of issues
• Ensure all interfaces in and out of the payroll system are functioning correctly
• Maintain an understanding of the payroll interface matrix and its impact on accounts
• Process bonuses, extra-ordinary salary payments
• Work with local tax manager in the Controllership and incorporate withholding modifications
• Work with HR to incorporate personnel contractual information and modify or resolve any issue about new hires, salary modifications etc.
• Document processes and procedures on an ongoing basis to allow for cross training and display the necessary level of understanding of the same
• Perform calculations for terminated people including severance, vacation calculations
• Perform calculations for payroll related fringe benefits (national pension, medical insurance, employment insurance, worker’s compensation etc.)
• Prepare monthly salary payments for all employees including local contractors and the execute bank transfers
• Prepare payroll withholding income tax , resident tax for all employees for tax authority reporting
• Execute Share Equity Plans as compensatory income and administrate these plans
• Maintain global variable pay monthly accrual and payments
• Manage executive’s global insurance, monthly process and process deduction form salary
• Participate training for revised tax laws, annual tax return changes etc.
• Lead individual’s annual income tax return activities
• Responsible to reconcile all payroll accounts
• Participate in internal or external audits as required |
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Work Experience/Requirements:
• 6+ years in relevant financial/management accounting or Payroll supervisory experience
• General knowledge on accounting principles and local/US GAAP
• Knowledge on SAP financial system and Internal Control requirements would be an advantage
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