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State Street

Payroll Officer

Place: Luxembourg, Luxembourg
Posted: Today

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Applies on statestreet.wd1.myworkdayjobs.com

The role

What we are looking for

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.

Required Skills and Qualification

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.

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

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