Compensation and Benefits Manager at PalmPay

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 PalmPay is an Africa-focused fintech firm, launched in 2019. PalmPay is a mobile payments platform that offers a number of financial services.

We are recruiting to fill the position below:

Job Title: Compensation and Benefits Manager

Location: Opebi, Ikeja - Lagos

Role Overview

  • The Compensation & Benefits Manager will be responsible for developing, implementing, and managing PalmPay’s 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 PalmPay’s 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.

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.

Qualifications

  • Bachelor’s 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.
  • 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.
  • Proven experience in fintech, banking, or other financial services is strongly preferred.
  • Strong understanding of Nigerian labor laws, statutory deductions, and compliance frameworks.

Key Competencies:

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

Compensation & Benefits

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

 

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


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