Experienced Payroll Officer at Bosak Microfinance Bank Limited

Bosak Microfinance Bank Limited was incorporated in December 2009 with the business objective of providing financial service to micro clients who were excluded from the mainstream financial system. It commenced operations in June 2010 upon obtaining a Unit Microfinance Banking License from the Central Bank of Nigeria. It later obtained a State Microfinance Banking License in 2016. Bosak Microfinance Bank Limited’s financial inclusion effort focuses on promoting savings culture, access to credit facilities for income-generation purposes and reducing vulnerability to risk through micro insurance.

The Bank’s major strategic focus employs the group lending methodology in its operations with a leaning towards women. It believes in the commitment of women folk to work hard and help their families conquer poverty. As such, more than 95% of the Bank’s lending activities focuses on women. The success of the bank’s group lending activities largely depends on group solidarity and cohesion. The success recorded by the bank in its lending program has earned it strategic partnership with the Bank of Industry (BOI) and the Development Bank of Nigeria (DBN) among others. The combination of cutting-edge technology, a strong and committed Board of Directors and motivated employees has helped the Bank to create a brand widely accepted by its teeming clients in Lagos. It is now expanding its frontiers in a scaling program aimed at delivering improved value to its stakeholders.

We are recruiting to fill the position below:

Job Title: Experienced Payroll Officer

Location: Ikeja, Lagos
Employment Type: Full-time

Job Description

• Ensures all payroll relevant transactions are collected and processed efficiently and obtain approval
• Ensures payroll data are maintained and updated from attendance machine and process for payroll information
• Maintaining payroll operations by following policies and procedures
• Determine payroll liabilities by forecasting to mitigate the impact on P&L ledger and workers compensation payments with Finance Department
• Resolving payroll discrepancies and ensures all employees have access to their pay-slips
• Calculate and prepare employee entitlements accurately and promptly.
• Generate comprehensive monthly salary reports and manage statutory remittances (P.A.Y.E., Pension, Insurance reports, NSITF, Union dues, Co-operative, etc.).
• Maintain employees related ledger reconciliation with finance team and take necessary adjustment for correction
• Advise Financial Control Uniton expected fund for salary disbursement periodically in advance
• Compile summaries of earnings & deductions (Taxes, Pension, NHF, Loan, Leave, Gratuity etc.) and all statutory schedules/remittances for report and ensure payment accordingly

External / internal relationship:

• Lagos Internal Revenue Service (LIRS)
• Nigeria Social Insurance Trust Fund (NSITF)
• Pension Administrators/Pension Custodians
• Finance/Account Department
• Union Executives
• All employees.

Qualifications / Requirements

• B.Sc. / HND in Accounting, Human Resources or a relevant field.
• Relevant certifications (an advantage, but not mandatory).
• Minimum of 4 years' experience in a similar role.
• Exceptional attention to detail.
• Excellent communication skills, demonstrating clarity and conciseness.
• Strong organizational skills to manage multiple tasks effectively.
• Proficiency in payroll preparation using ERP software, preferably Microsoft Dynamics Business Central (Sage & Oracle experience considered).
• Advanced expertise in Microsoft Excel for data analysis and reporting.

Why work with Bosak Microfinance Bank Limited?
We offer the following Benefits:

• Salary: N80,000 - N130,000 Monthly.
• If you desire to work in an organization where employee motivation is key and passion is rewarded, then Bosak MFB might be the place for you.
• We are committed to building an open and rewarding work environment where all employees have equal opportunities for growth to realize their full potential.
• Our remuneration and employee welfare packages are among the best in the industry.

We offer the following Benefits:

• HMO
• Constant Training and Development
• Leave & Passage Allowance
• Performance Induced Pay
• 13th Month.

How to Apply
Interested and qualified candidates should send their CV to: [email protected] using the Job Title as the subject of the mail.

Note: If you are an experienced Payroll Manager with a meticulous mindset and a commitment to accuracy, we invite you to join our client's team in this critical role.

Application Deadline 3rd September, 2024.