Compensation and Benefits Manager

Job title : Compensation and Benefits Manager

Job Purpose

• To manage the compensation and benefits function (i.e., payroll, incentives, benefits etc) for employees.
• The role implements new and revised compensation programs, policies and procedures to align with the company's goals and competitive practices in compliance with the country’s regulation.

Core Responsibilities and Key Result Areas
Strategic Implementation:

• Manages the implementation and administration of compensation programs.
• Ensure consistent monitoring, implementation and compliance to labour legislation laws
• Develop and implement techniques for compiling, preparing and presenting data.
• Co-ordinate organizational staff costs for annual budget process
• Optimizing Total Rewards to Drive Engagement & Performance
• Develop and implement HR metrics that enables informed decision.

Compensation and benefits management:

• Ensure prompt and accurate administration of compensations, rewards and benefits to employees and pensioners
• Ascertain and ensure prompt resolution of staff complaints on compensation rewards and benefits
• Ensure compensation reviews based on classification or reclassification of jobs, promotions, etc.
• Ensure cross-checking and reviews of figures prior to payment of compensations and benefits to ensure accuracy
• Ensure administration of Human Resources Information System(HRIS) to achieve timelines and efficiency
• Acts as consult for HOD regarding compensation related issues
• Ensures compliance with federal, state and local compensation laws and regulations
• Prepares and deploys periodic compensation activities (i.e. payroll, incentives, benefits and other statutory obligations) every month and ensure all employees are paid promptly and accurately
• Ensures preparation of payroll scheduling i.e. payroll report, Variance, statutory/voluntary deduction report etc.
• Advises management on total staff costs monthly, quarterly and annual for strategic decisions as they relate to revenue, operating costs by location and brands.

Payroll Management:

• Prepare and deploy payroll activities every month and ensure all employees’ salaries, benefits and allowances are paid promptly and correctly for business divisions
• Manage the process of gathering and locating MPR from stores and business units. Creating Pre-payroll variance report which includes but not limited to New hires, disengagement, leave and absence deduction, disciplinary, salary reviews/promotions
• Ensure all input from the Pre-payroll variation and correctly enter into the Human Resources Information System subject to approvals
• Ensure that payroll report and payroll deduction report to reflect all salaries and allowances and deductions i.e. statutory or company deduction
• Prepare variance report to show the difference in pay comparison between months and ensure accurate explanation for variance as applicable
• Prepare bank payment report, Pension Remittance Report, Tax Remittance Report, Re-imbursables report. FCMCTS report, Statutory deduction report i.e. NHF, NSITF and any other report as indicated in the payroll activities for each month
• Ensure new hire computation and Termination computation for voluntary and involuntary termination of contract following the company policies and procedures. Communicate to banks of employee exits and ensure that discharge letter/letter of indebtedness are communicated to employee as applicable
• Resolve all payroll enquiries including suspended salaries and allowances, returned salaries, refunds, tax issues etc.

Operational/Administrative Functions:

• Maintain relations with Internal and external stakeholders Finance Department, labour authorities etc
• Participate in business review meetings with different business divisions providing guidance on matters spanning across staff cost in relations to Profit and Loss relations.
• Participate in Ad Hoc meetings for the purpose of implementing initiatives that impact business strategy
• Keep the records; documents and files relating to all staff
• Ensure all due correspondences, memos, reports and certificates are tracked in each employees files
• Provide periodic up to date report on key Human Resources metrics and activities as it relates to the business division.

Records Management:

• Create and manage the HR Database
• Share database information such as physical and digital files and folders with only approved recipients
• Keep the records, documents and files, relating to all employees compensation of the organization
• Track the in and out of the files and the document contents of the files.

Reporting and Supervision:

• Plan, assigns and supervises Human Resources staff
• Implement Human Resources Initiatives and operations
• Plan, schedule, coordinate, review and report on the work of Human Resources staff
• Ensure periodic HR reports/metrics to Senior manager, Compensation & Benefits.

Key Performance Indicators

• Meet timelines for Payroll, Incentives and other employees compensation
• Turnaround time to resolve payroll issues/enquiries
• Payroll and/or compensation payment errors
• Number of payments processed outside payroll cycle
• Up to date administration of benefits to staff. E.g Breakfast meal Incentives. Etc.
• Continuous low or non-risk reports on compensation related processes External , internal auditors and process control team.
• Achievement of Individual Personal Development Plans.

Job Specifications
Educational Requirements:

• A good First Degree in Social / Management / Physical Sciences
• Possession of a Post graduate degree in Human Resources/Business Administration/Accounting or related field is an added advantage.

Professional Requirements:

• Membership of CIPM, HRCI, CIPD, ICAN PHRi or any other related professional qualification is required.

Experience Requirements:

• 5-6 years’ experience in a similar role.

Knowledge Requirements:

• Knowledge of all federal, state and local regulations and compliance requirements related to employee compensation.
• Strong analytical skills and ability to interpret and communicate data.
• Good use of softwares and Ai driven solutions.
• Computer proficiency and technical aptitude with the ability to use Microsoft products, including Excel.
• Strong leadership and team management skills.
• Excellent time management skills and ability to plan and set priorities.
• Excellent verbal and written communication skills.
• Strong interpersonal skills in dealing with senior management.