Updated: Apr 14, 2020
Triaging a $10M+ Payroll Issue:
During a regular payroll cycle, a rare software anomaly resulted in duplicate payroll deposits totaling over $14M. Once deposited, employees have access to use the funds and are not liable to return it due to a company error.
A lot of money could be unrecoverable as well as the credibility of the Payroll department.
Worked quickly with the bank and the CFO to authorize the reversal of the duplicate deposits. Worked with Legal and Payroll on the proper recovery message and procedures. Worked with Communications and Employee Contact Center to broadcast the error and inform employees of the reversal to come. Worked with the payroll vendor for root cause and accountability for any unrecoverable funds. Worked with Finance, the Bank and Payroll to conduct post-mortem. Created greater audits and controls to prevent future happenings.
The results: No employee "noise" on the incident; Zero out of pocket liability for the company given the error; Tighter audits and controls are in place with the software company, the Bank, Payroll, and Finance. Crickets, all quiet on the employee front.