Compensation and Benefits Manager

PalmPay.com

Office

Opebi, Ikeja, Lagos State

Full Time

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

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.
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.