The Director of Payroll is responsible for providing operational, managerial and strategic direction for the payroll function at CarMax. This role provides the leadership to develop and control the payroll policies and procedures and the vision to build and transform the processes and systems to best in class capabilities. The director cultivates a strong, customer-focused environment with emphasis on driving accurate and timely payroll results, in compliance with state and federal regulations. Supports enterprise-wide projects that incorporate proactive and innovative solutions to addressing business challenges and achieving organization goals and objectives. Member of senior accounting leadership team and a key business partner to Human Resources, Compensation and Benefits.
PRIMARY DUTIES AND RESPONSIBILITIES
- Plans and directs all payroll capabilities, including all cash and non-cash compensation processing. Accountable for the financial integrity of the payroll process.
- Oversees stock plan administration, including grants, vest, releases, option exercises and performance awards. Interfaces with third party vendor partners for system management and proper release of shares. Collaborates with Legal, Human Resources and Compensation on equity related issues, taxes and filings.
- Maintains awareness of current practices in payroll processing and keeps the various departments within the Company informed about changes in all current payroll and tax regulations, laws and policies.
- Responsible for the accounting and all monthly/quarterly accounting close requirements for payroll.
- Oversee payroll tax and other payroll accounting services with third party outsourcing partners. Ensure compliance with payroll tax filings and related returns and issuing W-2 forms accurately and within established deadlines.
- Ensures SOX internal control narratives are updated quarterly and key internal controls for the payroll cycle are in place and operating effectively.
- Provides internal and external audit support.
- Oversee Pay Stabilization Transformation initiatives, including leading cross functional assessments, participating in the development of process and systems enhancement, making recommendations of priorities and related roadmap as well as presenting funding of projects to steering committee. Identifies and communicates risks, issues and potential solutions along with providing status updates to the steering committee.
- Strategically provides continuous improvements to the payroll process by analyzing trends and presenting recommendations to senior leadership.
- Implements and reports on key metrics to monitor, manage and improve quality and efficiency.
- Leads team to respond to pay, benefit, payroll tax, and compensation inquiries from management, employees, and outside agencies.
- Leads and develops a team of associates through timely performance feedback delivered during day-to-day observations, file reviews and annual performance reviews.
- Responsible for creating individual development plans and business objectives designed to enhance and assist associate growth.
- Responsible for attracting, retaining talented associates, and creating effective succession plans in collaboration with other senior Accounting leaders.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Strong leadership skills, including the ability to motivate, influence and persuade across all levels of the organization
- Ability to build and maintain strong partnerships throughout the organization and stay connected with all areas of the business
- Ability to dig deep into detail while retaining a broad view perspective
- Ability to manage and communicate timelines and expectations with associates and business partners
- Ability to develop, execute and adjust a plan to achieve long-term and short-term results
- Adept at managing multiple priorities and business partners
- Ability to proactively understand latest industry trends and regulations and their potential impact for CarMax
- Collaborative approach based on the ability to listen and value others' opinions
- Ability to embrace and champion a diversity of ideas
- Ability to develop associates through constructive feedback and encouragement
EDUCATION and/or EXPERIENCE:
- Ten or more years of payroll management experience in a multi-site, multi-state environment and experience with a public company
- Bachelor's degree in Accounting, HR or other business-related field
- Accounting skills including knowledge of generally accepted accounting principles (GAAP)
- Demonstrated experience in establishing a payroll process framework and an understanding of the technical, business and people-related dynamics that need to be considered in delivering payroll services
- Proven track record with continuous improvement and change management processes
- Working knowledge of HRIS, payroll systems and payroll tax filings
- Experience with major Payroll and ERP system. Experience and certification in Workday Payroll is a plus.
- Computer skills: Microsoft Office (Excel, Word and PowerPoint)
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