Payroll Specialist

Alvotech is looking for a temporary (6 months contract with the possibility of extension) Payroll Specialist

The Payroll Specialist is responsible for ensuring accurate and timely payroll processing,

maintaining compliance with Icelandic labor laws, collective agreements, tax requirements,

and internal policies. The role works closely with HR, Finance, managers, external payroll

providers, and government authorities to deliver a high-quality payroll service to employees.

Key responsibilities and minimum requirements according to job level:

• Process monthly payroll accurately and on time.
• Review and validate payroll data, including salaries, overtime, shift premiums, bonuses,

allowances, and deductions.

• Maintain employee payroll records and ensure data accuracy within HR and payroll systems.
• Calculate final settlements, vacation pay, and other employee payments.
• Support payroll-related month-end and year-end activities.
• Ensure compliance with Icelandic labor legislation, tax regulations, social security

requirements, and collective bargaining agreements.

• Maintain knowledge of relevant laws, regulations, and union requirements.
• Prepare and submit payroll-related reports and declarations to authorities and third-party

providers.

• Support internal and external audits by providing payroll documentation and reports.
• Respond to employee and manager inquiries regarding payroll, taxation, benefits, vacation

accruals, and deductions.

• Provide guidance and support on payroll-related matters in a professional and confidential

manner.

• Assist with onboarding and offboarding activities related to payroll administration.

Competencies required to fulfill the employee responsibilities and work assignments:

• Bachelor's degree in Business Administration, Accounting, Human Resources, or a related

field, or equivalent experience.

• Minimum 3 years of payroll administration experience.
• Strong knowledge of Icelandic payroll practices, taxation, pension administration, and labor

market requirements.

• Experience working with payroll and HR information systems.
• Advanced Excel skills and experience with payroll reporting.
• Strong attention to detail and high level of accuracy.
• Ability to handle confidential information with discretion.
• Fluent in Icelandic and English, both written and spoken.

Additional competencies required to fulfill key management responsibilities:

• Experience supporting multinational payroll operations.
• Knowledge of collective bargaining agreements and union requirements in Iceland.
• Experience with payroll process improvement and automation initiatives.
• Experience working in a complex or fast-paced organizational environment.

Specifics of the role:

• The Payroll Specialist is responsible for ensuring accurate and timely payroll processing,

maintaining compliance with Icelandic labor laws, collective agreements, tax

requirements, and internal policies.

Minimum education and experience required for the role:

Education:

• Bachelor's degree in Business Administration, Accounting, Human Resources, or a related

field, or equivalent experience.

Experience:

• Minimum 3 years of payroll administration experience