Payroll and Operational Accounting Specialist

Description

Payroll and Operational Accounting Specialist (Federal Contractor)

Job Description

The Payroll and Operational Accounting Specialist is responsible for managing all aspects of payroll processing and operational accounting for a federal contractor, ensuring compliance with federal regulations (including FAR, DFARS, and DCAA requirements) and supporting the company's financial and operational objectives.

Key Responsibilities

• Accurately process and record multi-state, multi-union, and certified payrolls for federal and commercial works contracts.
• Prepare and submit certified payroll reports and ensure compliance with prevailing wage laws and regulations.
• Manage payroll deductions, taxes, fringe benefits, and year-end tax reports (e.g., 941, W-2, ACA 1095-C)
• Maintain and update personnel files, new hire documentation, and conduct employee orientations
• Address employee inquiries regarding payroll, benefits, and HR issues.
• Track and analyze labor, procurement, and operational costs; prepare detailed revenue and expense reports.
• Time and Attendance life cycle management.
• Develop and manage operational budgets and provide financial projections based on historical data.
• Oversee and reconcile financial accounts, including checks, wires, ACH payments, and credit card applications.
• Prepare for and support external audits, including DCAA, SOX, and SEC requirements.
• Ensure the accounting system meets DCAA and DFARS requirements, including segregation of direct/indirect costs, timekeeping, cost accumulation, and audit trails.
• Evaluate and implement accounting processes and systems to increase efficiency and ensure GAAP compliance.
• Maintain internal controls to prevent fraud, waste, and abuse.
  
  

Qualifications

Position Requirements.

• Education:
• Bachelor’s degree in Accounting, Finance, Business Administration, or related field preferred.
• Equivalent years of relevant experience may substitute for education.
• Experience:
• Minimum of 5 years’ experience in payroll and operational accounting, preferably in government contracting environments.
• Experience with multi-state, multi-union payrolls, and certified payroll reporting.
• Experience with federal contract accounting requirements, including FAR, DFARS, DCAA, and CAS compliance.
• Familiarity with accounting software (e.g., Paycom, Deltek Costpoint, Sage) and Microsoft Office Suite.
• Skills and Competencies:
• Deep understanding of core accounting principles, auditing, and cost analysis.
• Proficiency in payroll and accounting software; digital literacy with modern accounting tools.
• Strong organizational, time management, and prioritization skills; ability to meet tight deadlines.
• Excellent interpersonal and communication skills.
• High attention to detail and ability to maintain confidentiality.
• Knowledge of internal controls, financial reporting, and compliance with government regulations.
• Ability to work independently and as part of a team under pressure.
• Certifications (Preferred):
• Certified Public Accountant (CPA), Certified Payroll Professional (CPP), or Certified Management Accountant (CMA) are advantageous.
• Federal Contractor-Specific Requirements
• Demonstrated ability to comply with federal contract requirements, including DCAA audits and SF 1408 criteria for accounting system adequacy.
• Understanding of and experience with segregation of direct/indirect costs, timekeeping, job cost reporting, and audit trail maintenance.
• Satisfactory record of integrity, business ethics, and performance as required by federal contractor standards.