Full Job Description
Varo is on a mission to empower hard-working Americans to achieve greater financial resilience; arming them with the products and support they need to create healthy financial habits and reduce financial stress. Through its mobile app, Varo offers customers premium bank accounts that have no minimum balance requirement or monthly account fees, high-interest savings accounts, and solutions to build, repair, and access credit. Varo’s state of the art technology provides tech-first features to help people achieve their financial goals and manage their money more easily.
Varo is distinct from other fintechs: Varo is the first fintech to be granted preliminary approval for a de novo national bank charter by the Office of the Comptroller of the Currency (OCC), the first to receive approval from the FDIC for federal deposit insurance, and is weeks away from opening the first mobile-centric national bank in U.S. history. Our unique team combines the best of tech and banking, and we’re wildly passionate about keeping our customers happy by helping them manage and grow their money. Our teams are based in San Francisco and Salt Lake City. Privately held Varo has raised over $400M to date, from leading institutional investors and strategic partners including Warburg Pincus, The Rise Fund / TPG Growth, Gallatin Point Capital, Harbourvest Partners, Progressive Insurance, and iHeartMedia.
ABOUT THE PAYROLL SPECIALIST ROLE
We’re looking for a motivated payroll specialist who will run the day to day for a multi-state weekly and semi-monthly payroll for current 400+ employees and a growing organization. As part of the Finance team, you will be responsible for the payroll function while also assisting with equity administration and other accounting projects, as needed. This role includes ensuring payroll and regulatory compliance, keeping employee records up to date, providing payroll information to employees, and being available for questions.
WHAT YOU’LL DO
Review and process periodic and ad-hoc payroll in ADP for exempt and non-exempt employees and coordinate completeness of information for hourly employees.
Coordinate with Human Resources team for the onboarding of new hires, updates to benefit deductions, employee status changes, salary and reporting changes, as well as final paychecks for terminated employees.
Coordinate and review for accurate and timely production of employees’ W-2
Partner closely with HR, IT, Finance, and Accounting teams to develop and improve processes
Ensure that all non-exempt employee timecards are approved by supervisors in a timely fashion and that timecard data is processed accurately including adjustments as needed.
Prepare ad hoc payroll and compensation reports as needed
Track FTE growth and understand / communicate variances to projections
Set up payroll as new states are identified
Assist with any system integration (e.g., General Ledger) for payroll related items
Provide ADP with record of applicable Stock Option Exercises for year-end W-2 reporting.
Prepare payroll related journal entries and reconciliations as part of the month-end close process. Assist with automation of payroll entries.
Research and resolve payroll tax notice inquires.
Understand proper taxation of employer paid benefits.
Ensure timely payments of payroll taxes by ADP.
Provide ADP reports for management team as needed.
Assist with quarterly and annual audit requests.
Be able to recommend, design and assist with special projects related to the payroll function in order to bring value to the company through streamlining processes, automation, etc.
Assist in implementing, writing and maintaining standard operating procedures.
Maintain internal controls and documentation compliance when performing payroll tasks and related job functions.
Assist with other account payable activities as needed. NetSuite experience preferred.
SKILLS AND EXPERIENCES THAT’LL HELP YOU BE GREAT
4+ years of relevant payroll experience
Familiar with ADP Workforce Now and Time Labor Management
Strong working knowledge of payroll requirements and state and federal tax codes
Experience using ERP packages, posting payroll to the general ledger, NetSuite preferred.
THE THREE SKILLS THAT MATTER MOST
Strong interpersonal skills
Knowledge of labor and payroll tax laws and regulations, and the ability to research answers
At Varo, we are committed to living our values. We hope these resonate with you.
Customers First: Understand the problems our customers are trying to solve. Respond with a sense of urgency. Build relationships that result in loyalty. Be data and insights-driven. Test everything. Achieve results through strong execution. Build a product people love. Assess new initiatives with the customers’ interest in mind. Act with empathy.
Take Ownership: Bias towards action. Have high standards. Be accountable for the results of your work, our product, our company. Trust others to own it.
Respect: Bias towards action. Have high standards. Be accountable for the results of your work, our product, our company. Trust others to own it.
Stay Curious: Ask why. Dare to make things better. Learn something new each day (even from mistakes). Be open to growth. Develop creative solutions.
Make it Better: Think big. Set high goals. Work towards long term value rather than short term wins. Create change. Be resilient.
Varo is an equal opportunity employer. Varo embraces diversity and we are committed to building teams that represent a variety of backgrounds, perspectives, and skills. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.