State Street

Payroll Officer

In short

This is a two-year fixed-term, remote Payroll Officer role focused on hands-on review and execution of Luxembourg payroll: gross-to-net calculations, statutory deductions, wage tax withholding, social security contributions, reconciliations and corrections. It requires at least 10 years of Luxembourg payroll experience and fluency in French and English. State Street is a global financial services company serving institutional investors.

About the Role
The Payroll Officer will be employed on a two-year fixed-term contract and is responsible for the review and accurate execution of Luxembourg payroll activities, including payroll output validation, gross-to-net calculations, statutory deductions and reporting, reconciliations, payroll corrections, and controls. The role focuses primarily on hands-on payroll operations, accuracy, controls, and compliance with Luxembourg payroll requirements.
What will you be responsible for
•Perform day-to-day Luxembourg payroll activities in line with applicable payroll legislation, statutory requirements, internal procedures, and established payroll calendars.
•Perform payroll validation and controls, including:
•Review payroll calculation, payroll outputs including gross-to-net results covering salary changes, allowances, bonuses, overtime, benefits, absences, new hires, leavers, and other recurring or exceptional payroll elements.
•Review Luxembourg wage tax withholding based on applicable employee tax information, including tax cards, tax classes, tax credits, allowances, and other payroll-relevant tax data.
•Apply Luxembourg payroll requirements relating to statutory deductions, automatic wage indexation, minimum social wage requirements, and applicable collective bargaining provisions within established payroll processes.
•Review payroll corrections, including retroactive adjustments, off-cycle payments and investigate differences identified during payroll validation.
•Review employee and employer social security contributions including the applicable contribution bases, ceilings, and statutory deductions.
•Identifying payroll discrepancies, investigate the underlying cause, and escalate complex or material issues to the appropriate senior team member.
•Review and support payroll calculation for cross-border employees, including Luxembourg and foreign workdays and other cases requiring specific Luxembourg payroll treatment.
•Perform payroll controls and reconciliations before and after payroll processing, identifying unexpected variances, incorrect calculations, missing information, or inconsistencies and ensuring appropriate follow-up.
•Participate in payroll testing and validation activities relating to system, process, regulatory, or provider changes.
•Prepare and maintain payroll procedures, working instructions, checklists, and supporting documentation for assigned activities.
•Respond to employee payroll-related queries in a timely, accurate, and professional manner and escalate complex cases where appropriate.
Requirements
•Minimum 10 years of relevant Luxembourg payroll experience, gained within an in-house payroll function and/or payroll service provider environment.
•Strong practical knowledge of Luxembourg payroll regulations and statutory payroll obligations.
•Demonstrated ability to analyse and validate gross-to-net payroll results.
•Fluency in French and English language.
•Strong verbal and written communication skills.
•Part-time employment arrangements may also be considered.

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