Finaro (Formerly Credorax)

Payroll Specialist

  • Basis:  Full-Time
  • Closing Date:  22 Aug, 2022
  • Job Ref:  KMP-74281

Job Description

Credorax Bank, recently rebranded as Finaro, is an established payment services provider and card payments acquirer specializing in tailor-made solutions for eCommerce transaction processing.

We are a financial technology company and banking institution with a global presence in Israel, Europe, US and China.

The candidate will be reporting to the VP Global HR Operations and Compensation and supporting an international headcount spanning across Malta and other European sites.

The main duties and responsibilities include

  • Operational
    • Lead Malta payroll processes across three companies (monthly computations and end-of-year reports)
    • Assist with European payroll set-ups (in new jurisdictions) and interface with third-party payroll providers
    • Lead with monthly European payroll prep via our third-party payroll providers in 7 jurisdictions
    • Handle the administrative management of the company’s stock options framework (ensuring timely signing of agreements, effect payment of stock option sales via payroll/s, and act as the main point of contact for any associated questions from staff members related to stock options)
    • Lead and approve monthly reimbursement process for both local and travel-related expenses (in line with company policy) and ensure timely payment thereof
    • Act as the main user for our local payroll system Indigo Shireburn
    • Assist staff members with any taxation questions and support with tax return forms
    • Vendor management- act as the main point of contact for insurance, mobile telephony, third-party payroll administrators, pension and other benefits providers
    • Assist with compilation of reports, extraction of data from our HR and payroll systems and analysis
    • Assist with HR-related administration such as contracts of employment, addendums and any employee-related letters / communication
    • Participate and assist in financial and quality audits related to compensation
    • Manage leave and absence entitlements and balances across Malta and Europe jurisdictions
    • Lead with obtaining (and renewing) work permits for EU and non-EU employees for their possible relocations to Malta, any HQP and PQs applications with MFSA or any other relevant authorities
    • Responsible for QA across our HR and payroll operating systems and platforms
  • Management
    • Support with the development of compensation and rewards strategies that attract and retain talent
    • Perform comparative salary analysis based on market and sector-specific benchmarking to ensure competitiveness
    • Participate in salary and employment market surveys
    • Ensuring pay compliance with legislation in different jurisdictions
    • Support the development of a consistent compensation philosophy in line with work culture and organizational objectives


  • At least 5 years’ proven experience as a Compensation and Benefits Specialist
  • Previous experience or exposure to HR practices and management
  • Hands-on experience with Indigo payroll software (ideal, not a must)
  • Familiarity with various types of incentives and benefits
  • Strong quantitative and analytical skills – experience with producing and working with various reports (fluency in Excel is desired)
  • BS degree in HR, business administration or finance
  • Good knowledge of local compensation statutory requirements
  • Strong interpersonal and communication skills
  • Ability to work with limited supervision

Benefits of working for Finaro
Our bright open-plan offices are in the heart of Valletta, Malta’s historic capital city, offering a modern, functional and welcoming environment. As part of our standard remuneration package, we offer parking allowances and private health, dental and life insurances. We also offer discounted corporate gym rates, daily fresh fruit and family-friendly measures as well as exciting company events. Ability to work on a hybrid model (office / homes based).