Payroll Associate

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 Associate will work closely with the Compensation and Benefits Manager to ensure the effective administration of the company's payroll and related employee compensation processes, ensuring operational efficiency, accuracy, compliance and seamless coordination with relevant stakeholders.

Key Responsibilities:

• Assist with monthly payroll preparation and processing, including salaries, allowances, bonuses, deductions and reimbursements.
• Collect, review and update payroll inputs based on approved employee changes, including new hires, exits, promotions and salary adjustments.
• Assist with the computation and documentation of statutory deductions, including PAYE, pension, NSITF, ITF and NHF.
• Ensure payroll practices comply with relevant Nigerian labour, tax, pension, and data protection requirements.
• Maintain accurate and confidential employee payroll records and documentation.
• Assist with the computation of terminal benefits payments and other exit-related entitlements monthly.
• Respond to routine employee payroll queries and escalate complex issues where necessary.
• Support statutory filings, remittances and payroll-related audits.
• Carry out all other tasks as assigned by your line manager within the stipulated time frame

• Bachelor's degree in Accounting, Finance, Economics, Human Resources or a related field.
• 3+ years' of experience in payroll administration, preferably within the financial services industry.
• Good understanding of Nigerian payroll administration, PAYE, pension and other statutory deductions.
• Strong working knowledge of Microsoft Excel and other data analytics tools.
• Familiarity with HRIS or payroll software is an added advantage.
• Strong numerical and analytical skills, with excellent attention to detail.
• Good organizational, communication and problem-solving skills.
• High level of integrity and ability to handle confidential employee information.
• Ability to work collaboratively and meet deadlines in a fast-paced environment.

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

Recruitment Process:

• Screening session with a member of the recruitment team (30 min).
• Technical Interview with the hiring manager.
• Final Interview with the People Partner