Compensation and Benefits Manager

Ikeja - Nigeria

Monthly Salary: Not Disclosed

Posted on: 30+ days ago

Vacancies: 1 Vacancy

Job Summary

Compensation & Benefits Manager
Location: Lagos Nigeria
Department: Human Resources
Reports to: Head of HR / Chief People Officer
Company: PalmPay Limited

About PalmPay
PalmPay is a pan-African fintech company currently operating in Nigeria Ghana Kenya Uganda and Tanzania with further expansion into new markets underway. We are redefining the payments experience by making money transfers bill payments and digital commerce seamless and reliable. As we continue to scale we are committed to building a high-performance workforce and providing employees with competitive fair and motivating compensation and benefits structures.

Role Overview
The Compensation & Benefits Manager will be responsible for developing implementing and managing PalmPays compensation and benefits programs to attract retain and motivate top talent. This role requires a strategic HR professional with deep expertise in reward management pay structures incentive programs and statutory compliance particularly within the financial services/fintech sector.

Key Responsibilities
Compensation Strategy & Management

Design implement and manage compensation frameworks salary structures and incentive programs aligned with business goals.
Conduct regular salary benchmarking and market analysis to ensure competitiveness.
Manage annual compensation reviews promotions and adjustments in collaboration with HR Business Partners and business leaders.
Provide insights and recommendations to senior leadership on pay competitiveness pay equity and cost-effectiveness.

Benefits Administration

Oversee employee benefits programs (healthcare pension leave policies wellness initiatives etc.).
Ensure statutory compliance with Nigerian labor laws and other applicable regulations across PalmPays markets.
Evaluate and negotiate with external benefits providers (HMOs insurance firms pension administrators).
Develop and implement new benefit initiatives that enhance employee engagement and retention.

Performance & Incentive Programs

Partner with HRBPs and business leaders to design and manage KPI-linked bonus schemes and sales incentive programs.
Monitor the effectiveness of incentive plans and make recommendations for improvements.

Analytics & Reporting

Track and analyze compensation and benefits data to support decision-making.
Prepare regular reports for management and external auditors.
Use HRIS and payroll systems to ensure data accuracy and integrity.

Policy & Governance

Develop maintain and communicate compensation and benefits policies.
Ensure compliance with internal controls audit requirements and governance frameworks.
Train HR team members and managers on compensation policies and practices.

Qualifications

Bachelors degree in Human Resources Finance Business Administration Economics or related field.
Professional certification (CIPM CIPD SHRM WorldatWork) is highly desirable.
7 years of progressive HR experience with at least 3 years specializing in Compensation & Benefits.
Proven experience in fintech banking or other financial services is strongly preferred.
Strong understanding of Nigerian labor laws statutory deductions and compliance frameworks.
Advanced Excel and HRIS/payroll systems knowledge.
Excellent analytical problem-solving and negotiation skills.
High integrity attention to detail and ability to handle confidential information.

Key Competencies

Strategic thinking and business acumen.
Strong stakeholder management and influencing skills.
Data-driven decision-making.
Excellent organizational and communication skills.
Ability to thrive in a dynamic high-growth environment.

Key Performance Indicators (KPIs)

Competitiveness of compensation structures (measured against benchmarks).
Employee retention and engagement levels linked to rewards and benefits.
Accuracy and timeliness of payroll and statutory compliance.
Cost-effectiveness of compensation and benefits programs.
Satisfaction ratings from employees and hiring managers.

Compensation & Benefits

Competitive salary and performance-based incentives.
Comprehensive health insurance and wellness programs.
Pension and statutory benefits.
Professional development and training support.
A collaborative and innovative work culture.

Required Experience:

Manager

Compensation & Benefits ManagerLocation: Lagos NigeriaDepartment: Human ResourcesReports to: Head of HR / Chief People OfficerCompany: PalmPay LimitedAbout PalmPayPalmPay is a pan-African fintech company currently operating in Nigeria Ghana Kenya Uganda and Tanzania with further expansion into new m...