Payroll & Compensation Specialist

Job Description

Job Description

Description:

We are seeking a detail-oriented and analytical Payroll & Compensation Specialist to oversee the end-to-end processing of company payroll and manage complex compensation structures. Operating with a primary focus on variable pay and bonus calculations for co-advisors, you will serve as the main subject matter expert for payroll operations and co-advisor compensation models. Reporting directly to the Assistant Controller, this role ensures accurate, compliant, and timely disbursements while partnering closely with leadership and accounting to maintain alignment across our financial operations.

Location: This position is based in Des Moines, IA or Coralville, IA. A hybrid work schedule is available, with a mix of in-office and remote work to support collaboration, flexibility, and business needs.

What You’ll Do

Payroll Operations

• Process semi-monthly multi-state payroll for regular and variable-pay employees with strict adherence to deadlines and regulations.
• Audit payroll inputs, including timecards, tax withholdings, wage garnishments, and benefit deductions.
• Reconcile payroll registers prior to transmission and partner with Accounting on general ledger postings and payroll accruals.

Co-Advisor Bonus & Variable Compensation

• Calculate, audit, and administer regular bonus payouts and commission splits specifically tailored to co-advisor agreements.
• Partner with team leads to maintain accurate payout schedules, split ratios, and performance metrics for co-advisors.
• Resolve discrepancies or inquiries regarding co-advisor payouts in a clear, supportive, and timely manner.

Compliance & Reporting

• Ensure compliance with federal, state, and local payroll, wage, and tax regulations (e.g., FLSA, tax withholdings).
• Assist the Assistant Controller with month-end close processes, payroll audits, and preparation of year-end reporting (Form W-2s, 1099s, 941 reconciliations).
• Generate ad-hoc compensation reports and analytics for leadership to evaluate payout structures and labor costs.

What’s in it for you?

We provide a total rewards package focused on your health, family, and financial security. This includes comprehensive medical, dental, and vision options alongside company-paid disability and life insurance. We support your work-life balance with PTO, paid holidays, volunteer time off, and paid parental leave. Finally, we invest in your future through a 401(k) plan and a robust Employee Assistance Program for professional support.

Compensation: The anticipated pay range for this position is $26.00-$31.00 per hour, based on your level of experience and technical expertise.

Requirements:

• 3–5+ years of dedicated payroll and compensation administration experience. Prior experience handling commission/bonus models for financial advisors or co-advisors is strongly preferred. Financial industry experience is a plus.
• Bachelor’s degree in Accounting, Finance, Business Administration, or equivalent practical experience (preferred). Certified Payroll Professional (CPP) designation is a plus.
• Advanced proficiency in Microsoft Excel (VLOOKUPs, pivot tables, nested logic formulas for payout structures) and experience working within major payroll platforms (e.g., ADP, Workday, Paylocity, or Gusto).
• Exceptional attention to detail, strong analytical capability, high degree of discretion handling confidential data, and clear communication skills.

Physical Requirements:

• Ability to stand or sit for extended periods of time in an office environment.
• Working on a computer for extended periods of time.
• Ability to occasionally lift up to 15 pounds.