Senior Payroll Tax Analyst at M&T Bank

Buffalo, New York, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial ServicesIndustries

Requirements

Bachelor’s degree and a minimum of 4 years' large company payroll tax experience, or in lieu of degree, a combined minimum of 8 years' higher education and/or work experience, including a minimum of 4 years' large company payroll tax experience
Experience working under pressure
Detail-oriented
Strong proficiency with pertinent word processing, spreadsheet, presentation and industry-specific software
Prior experience working in a collaborative/team environment
Strong verbal and written communication skills
Strong time management skills
Strong organizational skills
Proven experience troubleshooting and providing timely and accurate solutions to issues
Minimum of 3 years' pertinent payroll software experience (preferred)

Responsibilities

Lead changes in tax withholding requirements for all states and localities within multiple companies for all employees
Work closely with the Payroll team, internal and external auditors, external vendor, and state and Federal agencies, to support compliance audits, escalated tax issues, agency queries, etc
Responsible for biweekly and quarterly tax deposits, reconciliations, returns and amendments
Assist Finance with related account reconciliation and budget planning activities
Research complex laws and regulations regarding taxes and payroll withholding procedures and ensure compliance
Handle the registration process for state withholding tax identification numbers/accounts, state unemployment insurance tax identification numbers/accounts, and other local tax accounts
Update state unemployment rates, state agency changes, and add localities within the HR system and third-party agency
Run payroll tax-related ad-hoc reports for Finance, Tax, etc
Reconcile and review vendor invoices to payroll accounting, utilizing an external vendor, the HR system, and spreadsheet software
Complete audits and process adjustment entries (year-to-date taxes, taxable wages, earnings and deductions) on employee records
Communicate tax changes/additions with HR teams and employees as required and verify accuracy of setup in the HR system
Research, analyze, and resolve all payroll tax discrepancies, escalating to management as needed
Analyze and recommend new approaches, policies, and procedures to improve efficiency
Serve as subject matter expert (SME) to manage complex employee inquiries/questions on subjects pertaining to tax matters
Respond to questions and special requests from employees and regulatory agencies
Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite. Identify risk-related issues needing escalation to management
Promote an environment that supports a culture of belonging and reflects the M&T Bank brand
Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable
Complete other related duties as assigned

Skills

Payroll Tax Compliance

Tax Filing

Tax Withholding

Payroll Reconciliation

HR Systems

State Unemployment Insurance

Tax Deposits

Regulatory Research

Audit Support

Excel

Ad-hoc Reporting

Account Reconciliation

M&T Bank

Full-service banking for individuals and businesses

About M&T Bank

M&T Bank provides a variety of banking services to individuals, small businesses, and larger companies. Their offerings include mortgage assistance, personal and business checking accounts, and mobile banking options. The bank primarily operates in the Northeastern and Mid-Atlantic regions of the United States, emphasizing community engagement and a focus on customer service. M&T Bank's business model is based on traditional banking practices, such as loans, deposits, and investment products, and it generates revenue through interest income and service fees. A key aspect that sets M&T Bank apart from its competitors is its commitment to community involvement, which includes allowing employees to volunteer and supporting local organizations. The recent merger with United Bank, N.A. has further expanded their services and market presence.

Buffalo, New YorkHeadquarters

1993Year Founded

IPOCompany Stage

Financial ServicesIndustries

10,001+Employees

Risks

Competition from fintechs could erode M&T Bank's market share among tech-savvy customers.

Integration challenges from the United Bank merger may disrupt operations.

Decreased prime rate could reduce interest income, impacting profitability.

Differentiation

M&T Bank emphasizes community engagement through its charitable foundation and volunteer programs.

The bank offers a wide range of traditional and digital banking services.

Recent merger with United Bank, N.A. expands M&T's market reach and service offerings.

Upsides

M&T Bank's $1.5 billion senior notes offering strengthens its financial position.

Decreased prime rate may attract more borrowers, increasing loan volume.

Shannon Lazare's appointment as New Jersey Regional President enhances local community engagement.

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