Payroll Manager at FairMoney Microfinance Bank

FairMoney is building the leading mobile bank for emerging markets. We started with a digital microcredit application on Android, and currently roll out additional financial services (current account, savings, debit card) while expanding the product to Western Africa and South-East Asia.

We are recruiting to fill the position below:

Job Title: Payroll Manager

Location: Lagos
Employment Type: Full-time

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.
• 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

Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidates should:
Click here to apply online

Recruitment Process

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