Payroll Manager

FairMoney is a pioneering mobile banking institution specializing in extending credit to emerging markets. Established in 2017, the company currently operates primarily within Nigeria, and it has secured nearly €50 million in funding from renowned global investors, including Tiger Global, DST, and Flourish Ventures.

In alignment with its vision, FairMoney is actively constructing the foremost mobile banking platform and point-of-sale (POS) solution tailored for emerging markets. The journey began with the introduction of a digital microcredit application exclusively available on Android and iOS devices. Today, FairMoney has significantly expanded its range of services, encompassing a comprehensive suite of financial products, such as current accounts, savings accounts, debit cards, and state-of-the-art POS solutions designed to meet the needs of both merchants and agents.

To gain deeper insights into FairMoney's pivotal role in reshaping Africa's financial landscape, we invite you to watch this informative video.

Job Summary

The Payroll Manager will be responsible for managing end-to-end payroll operations across the company, ensuring accurate and timely salary processing, statutory compliance, payroll reporting, employee data integrity, and effective collaboration with Finance, HR, Legal, and external payroll/statutory partners.

The role requires a highly confidential, detail-oriented, and compliance-driven professional who can manage sensitive employee compensation data, resolve payroll issues, and continuously improve payroll processes, controls, and reporting standards.

Key Responsibilities:

Payroll Processing and Administration

• Manage the end-to-end monthly payroll process for all employees within approved timelines and in line with the company’s payroll calendar.
• Ensure salaries, allowances, bonuses, incentives, deductions, loans, reimbursements, and final settlements are accurately processed.
• Maintain and update payroll records in line with approved employee changes, including new hires, exits, promotions, transfers, salary reviews, and unpaid leave.
• Review payroll inputs for accuracy, completeness, and proper approval before processing.

Statutory Compliance

• Ensure accurate computation and timely remittance of statutory obligations, including PAYE, pension, NSITF, ITF, NHF, and other applicable deductions.
• Liaise with tax authorities, pension administrators, and other regulatory bodies where required.
• Ensure payroll practices comply with relevant Nigerian labour, tax, pension, and data protection requirements.

Payroll Reporting and Reconciliation

• Prepare monthly payroll reports for management, Finance, and HR leadership.
• Conduct monthly reconciliation of payroll data against HRIS records, bank payment files, Finance records, and statutory deductions.
• Track payroll cost trends, headcount cost movement, employee benefits, deductions, and payroll variances.
• Provide payroll analytics to support budgeting, forecasting, workforce planning, and management decision-making.

Employee Records and Data Management

• Maintain accurate and confidential employee payroll records and ensure payroll data is properly captured, updated, stored, and protected.
• Work closely with People Operations to ensure employee lifecycle changes are reflected correctly in payroll.
• Ensure all payroll documentation is properly filed and accessible only to authorized persons.

Exit, Final Settlement, and Benefits Administration

• Compute final salary, accrued leave, deductions, loans, benefits, and other exit-related payments.
• Work with HR and Finance to ensure final settlements are accurate, approved, and processed in line with company policy.
• Ensure all payroll-related exit documentation is properly completed and archived.

Payroll Controls and Process Improvement

• Develop and improve payroll processes, controls, templates, and standard operating procedures.
• Identify payroll risks and recommend controls to prevent errors, fraud, overpayment, underpayment, or compliance breaches.
• Support automation and optimization of payroll processes using HRIS/payroll systems.

Stakeholder Management

• Serve as the main point of contact for payroll-related employee queries.
• Collaborate with Finance, People Operations and Legal and Compliance on payroll-related matters.
• Manage relationships with payroll vendors, pension administrators, tax consultants, and other external service providers where applicable.

Requirements:
• Bachelor’s degree in Accounting, Human Resources, Economics, or a related field.
• Minimum of 5–7 years’ experience in payroll administration or a related function in a fintech, financial services, or fast-paced organization.
• Strong knowledge of Nigerian payroll administration, PAYE, pension, statutory deductions, and labour-related compliance.
• Experience managing payroll for diverse nationalities and international employee populations
• Experience using HRIS, payroll software, and payroll reporting tools.
• Professional certification in HR or Payroll will be an added advantage.
• Advanced Microsoft Excel skills.
• Excellent attention to detail and numerical accuracy.
• Ability to manage sensitive employee information professionally.

Benefits:
• Private Health Insurance
• Paid Time Off
• Hybrid work
• Training & Development programs

Recruitment Process:

• Screening with a member of the recruitment team (30 min).
• Technical Interview with the hiring manager
• Final Interview with the Managing Director