Payroll Manager

About the job

Job Purpose

To manage and oversee the Bank's payroll function, ensuring accurate payroll processing, timely salary disbursement, payroll reconciliation, workforce cost management, regulatory compliance, and effective payroll governance. The role is responsible for payroll budgeting, forecasting, compensation-related financial analysis, audit management, and maintaining the integrity of payroll and performance management records.

Key Responsibilities

• Manage end-to-end monthly payroll processing, validation, approval, and salary disbursement.
• Perform payroll balancing, reconciliation, and month-end payroll closure activities, ensuring accuracy of payroll data and financial records.
• Act as Payroll Checker/Authorizer and ensure adherence to maker-checker controls and approval frameworks.
• Coordinate with Finance for payroll funding, accounting entries, and payroll-related reconciliations.
• Prepare and monitor annual payroll budgets, workforce cost forecasts, and employee-related financial projections.
• Conduct financial impact analysis for annual increments, promotions, bonus payouts, and compensation changes.
• Manage collection, validation, and integration of salary revisions, promotions, transfers, and employee movement data into payroll systems.
• Maintain payroll master data and ensure accuracy of employee compensation records.
• Ensure Annual Performance Review (APR), Goal Setting, and performance-related records are maintained and appropriately linked to compensation processes.
• Manage payroll-related audits and ensure timely resolution of audit findings and compliance observations.
• Ensure compliance with internal policies, labor laws, tax regulations, and regulatory requirements.
• Prepare payroll MIS, workforce cost reports, headcount analytics, and management dashboards.
• Liaise with HR, Finance, Internal Audit, Compliance, and external stakeholders on payroll-related matters.
• Identify and implement process improvements, automation opportunities, and control enhancements within payroll operations.

Qualifications

• Bachelor's degree in finance, Accounting, Human Resources, Business Administration, or related field.
• Master's Degree and relevant professional certifications will be an added advantage.

Experience

• 8-10 years of relevant experience in Payroll, Compensation & Benefits, or HR Operations.
• Minimum 3-5 years of managerial experience, preferably within the banking or financial services sector.
• Experience in payroll reconciliation, budgeting, forecasting, audit management, and compensation administration.

Technical Competencies

• Payroll Management & Administration
• Payroll Balancing & Reconciliation
• Budgeting & Workforce Cost Forecasting
• Compensation & Benefits Administration
• Financial Impact Analysis
• HRIS & Payroll Systems
• Audit & Regulatory Compliance
• MIS Reporting & Analytics
• Advanced Microsoft Excel
• Data Management & Record Keeping
• Performance Management Administration (APR & Goal Setting)
• Internal Controls & Risk Management
• Stakeholder Management & Business Partnering.