Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description

Individual will be part of the Payroll and HR Shared Services function within the CPO organization, responsible for managing end-to-end payroll operations and employee service delivery. The role includes overseeing payroll processing, taxation, statutory compliance, full-and-final settlements, internal and external audits, responses to statutory notices and inspections, year-end payroll activities, investment proof validation, and Form 16 generation and distribution, while ensuring accuracy, compliance, strong governance, and an exceptional employee experience.

Responsibilities

• Manage end-to-end payroll operations, including payroll inputs, validation, processing, reconciliation, disbursement, post-payroll activities, and full-and-final settlements, ensuring accuracy, timeliness, and compliance.
• Serve as the primary point of contact for payroll and HR Shared Services-related queries, ensuring prompt resolution of employee and stakeholder concerns while delivering an exceptional employee experience.
• Partner with payroll vendors and internal stakeholders to ensure seamless service delivery, strong governance, and adherence to established service levels and controls.
• Drive continuous improvement initiatives across Payroll and HR Shared Services processes to enhance efficiency, accuracy, compliance, and customer satisfaction.
• Oversee taxation, statutory compliance, year-end activities, Form 16 generation and distribution, investment proof validation, and responses to statutory notices, audits, and inspections.
• Develop, generate, and analyze payroll, HRSS, and operational reports using tools such as Excel, Workday, and other reporting platforms to support business decision-making.
• Create dashboards and management reporting that provide insights into payroll operations, service delivery performance, employee experience, compliance, and operational metrics.
• Lead automation and process simplification initiatives, including report centralization, workflow optimization, self-service enablement, and digitization efforts.
• Manage escalations effectively, identify root causes, and implement sustainable solutions to improve service quality and process effectiveness.
• Support and implement recommendations arising from payroll audits, control reviews, risk assessments, and compliance evaluations.
• Manage payroll accounting activities, including preparation, validation, and timely posting of payroll journal entries to the general ledger.
• Perform payroll-to-general ledger and balance sheet reconciliations, investigate variances, and ensure timely resolution of exceptions and aged items.
• Coordinate payroll accruals, provisions, reversals, and month-end and year-end financial activities close in line with established controls and timelines.
• Partner closely with Finance, Accounting, Tax, Compliance, HR, and payroll vendors to ensure accurate payroll processing, reporting, funding, and accounting treatment.
• Maintain audit-ready documentation, support internal and external audits, and ensure adherence to regulatory, financial, and operational control requirements.
• Monitor changes in labor laws, payroll regulations, and taxation requirements, and drive the implementation of required process, policy, and system updates.
• Establish and monitor service delivery metrics, key performance indicators (KPIs), and service level agreements (SLAs) to ensure operational excellence within HR Shared Services.
• Lead, coach, and develop team members while fostering a culture of accountability, customer focus, continuous improvement, and operational excellence.
• Support HR Shared Services transformation initiatives, including process standardization, centralization, employee self-service adoption, and digital-first service delivery models.

Requirements

Mandatory skills:

• Academic qualification – Postgraduate (preferable), CA/CWA (Optional)
• Working knowledge of Account Reconciliations
• Working knowledge of payroll accounting, journal entries, general ledger accounting, accruals and month-end close activities.
• Ability to analyze and resolve payroll-to-general-ledger reconciliation differences and aged open items.
• Candidates must have excellent communication, analytical abilities, written/oral communication skills
• Should have excellent MS Excel and MS office skills.
• Ability to produce/analyze statistical reports and produce Excel spreadsheets
• Ability to act on own initiative and meet deadlines.
• Ability to adhere to confidentiality requirements.
• Ability to work with little supervision, using own initiative and able to manage sub-teams
• Sound multi-tasking and organizational skills, with the ability to work effectively in a complex and dynamic environment.
• Experience in medium/large reputed organization in financial services/technology space would be preferred along with working knowledge of key Payroll (and HR) software packages
• Experience with face-to-face people issues – good customer service ethic.
• Able to analyze and follow policies and procedures in service delivery.

Desired Skills

• Certifications in Payroll / Statutory Compliances etc. would be an added advantage.
• Strong and relevant experience in statistical analysis concepts
• Excellent innovative ideas which can help team to deliver more efficient ways
• Should have strong HR experience of at least 12-14 years
• Must have experience in managing Payroll.
• Must have knowledge on various applicable labor laws and Taxation laws related to payroll.
• Must have exposure of handling Full & Final Settlements process.
• Ability to reconcile pay runs and end of year reports.
• Exposure to payroll accounting controls, balance sheet substantiation and audit documentation would be preferred.
• Working knowledge of appropriate legislative and regulatory requirements.