Senior Reward Analyst Design, advisory & Governance - Pretoria

SUMMARY:
Senior Reward Analyst Design, advisory & Governance - Pretoria

POSITION INFO:

Role Purpose:

To assist with the development and management of a best practice framework in support of the human capital and people practices strategy for the Rewards function within the Group.

Key Responsibilities:

• Design and develop Total Reward strategies and solutions that enable business objectives as well as the Group’s Employee Value Proposition.

• Develop and drive the implementation of total reward strategies in the areas of remuneration, benefits, and incentive plans, ensuring market competitiveness and alignment with the Group People Strategy, as well as a holistic employee experience.

• Ensure total reward policies and practices are aligned with business objectives and are compliant with applicable laws and regulations.

• Work together with Group CEO, CFO, Group Exco and Group Remuneration Committee to develop and drive the implementation of consistent and equitable remuneration plans, incentive structures and programs to support business objectives.

• Design and maintain best practice and competitive employee benefit offerings that enables a holistic employee experience and unique Employee Value Proposition for the Group.

• Provide thought leadership on remuneration and employee benefit initiatives and trends.

• Participate in external remuneration surveys and manage the equitable internal and external benchmarking practice across the Group.

• Partner in the development and approval of a Group sales remuneration strategy and policy.

• Develop a comprehensive understanding of the organisation’s current sales remuneration structures, policies, practices and governance.

• Design or enhance total reward programs for the Group’s international businesses ensuring competitiveness and compliance within the relevant geographical areas

• Continuously evaluate the Total Reward service offering for external competitiveness, internal equity, and legal compliance and re-align where necessary.

• Create platforms and forums that enable robust governance of Total Reward decisions within the Group that align with best practice and legislative requirements.

• Oversee contracts and manage relationships with Total Reward Consultants in line with preferential procurement principles.

• Align and integrate the Total Reward solutions with other Human Capital practices.

• Drive the effective communication around remuneration and benefits, incentive plans and other Total Reward Solutions.

• Guide and advise business leaders and Human Capital teams on Total Reward solutions.

• Utilising data analytics, analyse internal Total Reward practices and leverage Total Rewards trends to propose new solutions to address gaps and challenges.

• Deliver relevant Total Reward reports and insights to senior management forums and committees.

• Ensure that remuneration programs are consistently designed, communicated, and administered in compliance with company policies

Drive a client centric environment that focuses on best practice service delivery

• Contribute to sustaining a competitive edge through external networking and benchmarking and representation on related forums.

• Define fair and innovative client service practices which build rewarding relationships and allow the team to provide exceptional service.

• Demonstrate exemplary leadership behavior through personal involvement, commitment and dedication in support of the six cultural behavior themes.

• Create a high-trust, high-performance environment where excellence is the norm and aligned with business impact, collaboration and partnership building.

• Provide authoritative expertise and advice to internal stakeholders.

• Build and maintain relationships with internal and external stakeholders.

• Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service.

Effectively lead the team

• Create a positive work climate and culture to energise employees, give meaning to work, minimise work disruption and maximise employee productivity.

• Demonstrate exemplary leadership behaviour, through personal involvement, commitment and dedication in support of our culture behaviours.

• Select and recruit suitably qualified talent in line with Employment Equity principles as well as the Group’s culture behaviours.

• Drive a culture that guides and directs best practice, fostering an environment of continuous learning, improvement and cohesiveness.

• Drive a culture that makes our purpose real, enables a significant behavioural shift, and supports execution of the Impact strategy.

• Enable a culture where there is continuous learning and growth, and where information regarding successes, challenges, trends and ideas are actively shared between team members.

• Execute effective workforce planning practices to ensure that staffing requirements are accurately forecasted.

• Identify employee growth and development needs and schedule interventions to enable ongoing development, training and personal growth.

• Effectively manage performance within the team in order to ensure business objectives are achieved.

• Encourage innovation, change agility and collaboration within the team.

Manage budget and implement sound financial controls

• Control the budget for the remuneration and benefits team, including the authorisation of expenditures and implementation of financial controls.

• Develop an annual & longer-term resource plan and secure capacity to achieve divisional objectives consistent with long term strategic plan.

• Manage high risk and problematic financial issues in your area of accountability and contribute to the development of policy.

• Identify solutions to enhance cost effectiveness and increase operational efficiency.

• Implement and manage financial risk methodologies, techniques and systems and use to monitor and report on financial activities.

• Implement risk management, governance and compliance policies in own practice area, to identify and manage governance and risk exposure liability.

• Investigate reported wilful acts of non-compliance to organisation policy and practice and report on findings.

• Manage the General Staff incentive provision process across the Group and contribute to the management incentive schemes IFRS2 provisions process.

Qualifications and Experience Required:

Post-graduate degree in Finance, Human Resources or related field.

Remuneration Professional certification (preferred).

Experience and/or exposure to sales remuneration in financial services.

8-10 years Reward experience, preferably within the financial services industry.

3-5 years leadership experience.

Competencies:

Business Acumen: Understands how the business operates, what the key issues and risks are that drives business success; and how they impact on the commercial viability of potential ventures and the profitability of the Group.

Client/Stakeholder Commitment: Anticipates, meets and exceeds client’s needs by creating long lasting relationships that support the client value proposition, supports their financial wellness and ensures client centricity.

Drive for Results: Drive a sense of urgency, focus, accountability, agility and execution to deliver business results.

Leads Change and Innovation: Actively leads change, does what is right for the business and drives continuous improvement through innovation.

Strategic Thinking: Creates competitive and breakthrough strategies to drive short term profitability and long-term business growth and shareholder value.

Collaboration: Prioritises the business interests of the Group and invests in the success of the group by aligning efforts across divisions.

Impact and Influence: Persuades, convinces, influences and inspires others, both within the Group and externally to win support, loyalty and gain commitment to the purpose of the Group.

Initiate and lead strategic initiatives to implement Total Reward Strategies: Align the total reward strategy to the Group People strategy to drive talent attraction, retention and business performance.

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