Compensation Accounting Specialist, Associate

3 weeks ago

London, Greater London, United Kingdom Goldman Sachs Full time
Our Influence:
The Goldman Sachs Group, Inc. stands as a premier global financial services entity, delivering investment banking, securities, and asset management solutions to a vast and varied clientele, including corporations, financial institutions, governments, and high-net-worth individuals. With its headquarters in New York, the firm operates in major financial hubs worldwide, including London, Frankfurt, Tokyo, and Hong Kong.

Your Role:
Controllers form a diverse group of experts responsible for ensuring the firm adheres to financial control and reporting requirements of a global, regulated, and publicly traded financial institution. The Compensation Accounting team, part of the Controllers group, oversees the monthly payroll entries for all local EMEA entities into the firm's general ledger, while also reconciling all payroll clearance accounts. This team is tasked with conducting thorough variance and control checks and analyses in compliance with the Firm's Sarbanes-Oxley and other regulatory measures.

Key Responsibilities:
  • Evaluate and process various UK and global payrolls in accordance with local and regional tax, payroll, and wage reporting regulations within established vendor and processing timelines.
  • Conduct detailed calculations of wages and applicable deductions based on employee contracts and internal compensation policies.
  • Input and update essential payroll and compensation information into PeopleSoft 9.0/Zellis ResourceLink (UK) for processing.
  • Execute detailed PAYE and compensation calculations following UK HMRC and EMEA PAYE regulations.
  • Coordinate and supervise up to six global payrolls effectively.
  • Address inquiries regarding monthly pay, deductions, and taxes from employees, external vendors, and tax authorities.
  • Identify, investigate, and rectify discrepancies in compensation and variance records.
  • Manage confidential and highly sensitive personal information with discretion.
  • Complete compensation controls for managerial review.
  • Determine the organization's tax obligations by calculating national and council taxes, as well as National Insurance and other social security contributions.
  • Collaborate with the financial accounting team responsible for recording compensation in the Firm's ledger.

Qualifications & Experience:
  • Proficient UK/EMEA payroll expertise (minimum of 3 years), ideally within Zellis ResourceLink or a comparable payroll system.
  • Experience in a large, complex organization, managing financial data and spreadsheets.
  • Proficient in using MS Office applications and web/Java-based systems (such as PeopleSoft 9.0).
  • This role is highly demanding, requiring the ability to manage a substantial workload and meet multiple deadlines.
  • The ideal candidate should demonstrate initiative and the capability to work independently.

Additional Skills Required:
  • Exceptional attention to detail.
  • Highly organized with the ability to multitask.
  • Strong work ethic and a collaborative team player.
  • Sound decision-making abilities.
  • Logical mindset with problem-solving skills.

About Goldman Sachs:
At Goldman Sachs, we dedicate our people, capital, and ideas to assist our clients, shareholders, and the communities we serve in achieving growth. Established in 1869, we are a leading global investment banking, securities, and asset management firm. With offices worldwide, we believe that individual identity enhances professional performance. We are committed to promoting diversity and inclusion within our workplace and beyond, ensuring every individual has ample opportunities for professional and personal growth through training, development, and wellness programs. Learn more about our culture, benefits, and people.

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