Paymaster (Temporary 12 months)

Novacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market companies in four core sectors, Technologies, Industries, Financial Services and Digital Infrastructure.

Job description:

The Paymaster at Novacap is responsible for all payroll-related activities for Canadian and U.S. employees. Reporting to the Corporate Controller, this individual plays a key role in managing payroll processes, ensuring the accuracy and compliance of payments, as well as overseeing employee benefits and related HR tasks.

Key responsibilities

Operational

• Prepare, validate, and process Canadian payroll on a bi-weekly basis
• Prepare, validate, and process U.S. payroll twice per month
• Track taxable benefits and group insurance plans in Canada and the U.S.
• Manage and track employee vacation balances
• Handle employee inquiries related to payroll
• Process RRSP contributions
• Track 401(k) deductions for U.S. employees and ensure timely remittances
• Prepare journal entries related to remittances to the Ministry of Finance (Ontario)
• Issue Records of Employment (ROEs)
• Respond to government notices and inquiries related to payroll and remittances

Monthly

• Reconcile insurance invoices and record them in the accounting system
• Record all other payroll-related invoices in the accounting system
• Prepare bonus and vacation accruals
• Perform analyses and provide explanations for payroll variances

Annual

• Track contributions to registered retirement savings plans (RRSP) and U.S. 401(k) plans
• Perform year-end adjustments
• Prepare T4, RL-1, and W-2 forms
• Prepare RL-1 summaries and other government filings
• Reconcile expenses related to the 1% training requirement (Revenu Québec)
• Support the salary review and bonus process

Human Resources

• Prepare employment confirmation letters
• Manage employee enrollment in group insurance and group RRSP plans
• Generate reports and provide employee data
• Collaborate on ad hoc projects with the HR team
• Maintain time banks
• Respond to employment verification requests

Experience and Qualifications

• College diploma in administration, accounting, or a related field
• 5 to 7 years of experience in payroll management, preferably in a fast-paced environment
• Knowledge of payroll regulations in Canada and the United States
• Proficiency with payroll systems and accounting software
• Advanced Excel and database management skills
• Fluency in both French and English, written and spoken
• Knowledge of employee benefits and group insurance administration

Key Competencies

• Attention to detail and accuracy: Ability to manage complex payroll processes with precision, ensuring accurate payments and reporting
• Interpersonal skills: Strong communication skills with the ability to collaborate effectively across departments, particularly HR and Finance
• Confidentiality and discretion: Commitment to handling sensitive information with the highest level of integrity and professionalism