Payroll Associate

Company: Munich RE
Location: Princeton
Posted on: May 30, 2025

Job Description:

Payroll Associate






Company



Munich Re America Services





Location



Princeton
, United States




Payroll Associate We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. The Company Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities. As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive - from traditional The Opportunity Future focused and always one step ahead! The Payroll Associate is responsible for overseeing the accurate and timely preparation and verification of all transactions required to process the regional, bi-weekly, monthly and off-cycle payrolls for all companies supported using an SAP in-house Payroll system. Performs various payroll related functions including, but not limited to payroll reconciliation, processing feeds to the General Ledger system, check printing and processing ACH file transmissions. Responsibilities

• Review time entries for appropriateness and ensure employees are paid properly.
• Verify and reconcile payroll process outcomes identifying and resolving any systemic payroll errors before check printing and ACH file transmissions.
• Review and properly document all additional payments.
• Prepare a payroll reconciliation report for management to review and approve on a pay period basis.
• Verify payroll and assigned partner payroll prior to final processing. Document and confirm all changes in earnings.
• Determine the amounts necessary to fund each regular and supplemental payroll and report this information to Treasury Services to ensure proper funding of the payroll account.
• Process proper funding requirement based on each company's needs and submit payroll GL feed as appropriate per company. Ensure all data feeds processed thru the SAP inhouse payroll to the General Ledger system are accurate and timely.
• Review additional processes and verify accuracy prior to payroll running to ensure proper pay to employees..
• Process any off cycle payments as required.
• Participate in year-end payroll processes including the proper treatment of imputed income, gross-ups and the preparation and issuance of W-2s.
• Assist with any Tax related matters including, but not limited to, taxing of employees by Federal, State, City, and other Local jurisdictions.
• Additional requirements as required. Qualifications
• 7+ years of experience in payroll.
• A broad base understanding of payroll processing with in-house or outsourced processing related to processing payroll.
• Knowledge of Microsoft Office products, particularly Excel and Word.
• Must be analytical in nature, capable of researching complex issues involving salary, taxes, and systems, and recommending solutions. At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services. We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.#LI-JR1
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
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Keywords: Munich RE, Westport , Payroll Associate, Accounting, Auditing , Princeton, Connecticut