Payroll Manager, SmithRx
Next-generation pharmacy benefits
Be an early applicant
Next-generation pharmacy benefits
201-500 employees
Be an early applicant
201-500 employees
Company mission
To reduce the complexity and costs of pharmacy benefits with a cleaner business approach and the industry’s most advanced and flexible technology platform.
Role
Who you are
- 8+ years progressive experience with proven success in owning and managing end-to-end payroll process for exempt and hourly workforce
- Bachelor's degree in Accounting, Business Administration, Human Resources, or related field required. Certified Payroll Professional (CPP) designation preferred
- In-depth knowledge of payroll processes, labor laws, taxation and statutory compliance in the US
- Experience in handling payroll audits, inspections and compliance assessments
- Must have experience in equity based compensation, including stock options and RSUs
- Excellent experience configuring and managing multi-state payroll processes, taxes and compliance
- Proficiency in payroll software and systems, such as ADP, Workday, Paylocity, with experience implementing and managing payroll systems
- Excellent knowledge of SOX requirements, payroll processes, workflow, and practices
- Strong attention to detail and accuracy in managing complex payroll calculation data
- Good organizational and time management skills to meet strict payroll deadlines and manage multiple priorities
- Exceptional communication and interpersonal skills, with the ability to interact effectively with employees at all levels of the organization
- High level of integrity and ability to handle sensitive and confidential information
- A ‘get it done’ creative attitude and an ability to seek out and implement novel solutions to meet a growing, dynamic, and ever-changing environment
What the job involves
- The Payroll Manager will manage and process all activities relating to the administration and maintenance of payroll and employee benefits. A successful candidate will have experience performing general and complex payroll actions (including accounting tasks, timecard processing, offcycle payrolls, reconciliations, and verifying financial transactions)
- Own end-to-end payroll process for exempt and hourly employees
- Develop and maintain robust systems/ procedures/ policies to process payroll transactions (salaries, bonus payouts, benefits, garnishments, deductions, taxes and third party payments)
- Perform pre and post processing audits, prepare reconciliation reports in line with best practices
- Conduct payroll variance analysis for each bi-weekly payroll cycle
- Maintain and update payroll records for compliance with labor and tax laws, and ensure accurate and timely tax filings. Review quarterly tax reports and returns for accuracy
- Develop, implement, maintain and evaluate payroll, leaves and workers compensation administration procedures and guidelines; and coordinate and monitor compliance of payroll, workers compensation and leave administration activities
- Partner with the HR team to set a strategic direction for multi-state US payroll, time keeping, and attendance systems
- Collaborate with various departments to gather and validate payroll information, resolve payroll discrepancies, provide exceptional service to our employees
- Ensure documentation and controls compliance as the payroll SOX champion
- Enter payroll and benefit journal entries into the general ledger, including resolving any payroll errors and discrepancies while being able to record the corrections and recording payroll expenses and accruals in accordance with GAAP
- Perform monthly payroll close duties, including the preparation of period-end accruals and monthly journal entries for all payroll and benefits, reconciliations of payroll registers to the general ledger, etc. with minimal supervision
- Prepare bank deposits, analyze and reconcile post-payroll reports and quarterly tax filings to identify discrepancies in order to resolve problems in a timely manner
- Determine payroll liabilities of employee federal and state income and social security taxes, and employer’s social security, unemployment and workers compensation payments
- Liaise with auditors and manage payroll tax and benefits audits
- Provide leadership with status reports and other information to forecast payroll, cash needs and benefits requirements
Our take
PBMs (Pharmacy Benefit Managers) save payers and patients 40% to 50% on prescription drug and related medical costs in the US, compared to what they would spend without them. It’s generally accepted, though, that PBMs are working for profit and not solely on the customers benefit.
SmithRx is a company looking to reduce complications in the current system with its innovative PBM structure. It uses its cloud-based technology to present the most cost effective options transparently to self-insured businesses, supporting them in getting the lowest cost drugs they can, as well as making the transition to these alternatives seamless.
It does this by partnering with innovative drug companies, as well as applying coupons and making use of available savings and assistance programs. As the company does not take economics from the supply chain, it is able to work for its customers with no hidden agendas. Having recently secured funding, the company is looking towards continued growth as well as pursuing leadership in the sector.
Steph
Company Specialist
Insights
Few candidates hear
back within 2 weeks
Company
Funding (last 2 of 5 rounds)
Jan 2024
$60m
SERIES C
Mar 2022
$20m
SERIES B
Total funding: $97.5m
Company benefits
- Comprehensive wellness benefits including Medical, Pharmacy, Dental and Vision. We pay up to 90% for you and your family
- Fully paid life insurance and disability benefits
- Paid Parental Leave benefits
- Professional development, training and career growth opportunities
- Generous paid time off
Company values
- Operate With Integrity: Always operate with honesty and transparency so we earn the trust of our clients
- Courage To Transform: Demonstrate the courage needed to take on a broken industry and continuously improve what we offer to optimise health outcomes
- Together We Succeed: Foster a collaborative and inclusive environment that values teamwork, respect, and open communication, and encourages creativity and diversity of thought
Company HQ
South Park, San Francisco, CA
Articles
Leadership
Jake Frenz
(CEO)Previously worked as Director of Plan Operations at CollectiveHealth and Project Director at Anthem Inc.
Salary benchmarks
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