Remuneration & Rewards Specialist (SP6) - Human Capital
Listing reference: capbw_001337
Listing status: Under Review
Apply by: 31 January 2024
Position summary
Industry: Banking
Job category: Other: Banking, Finance, Insurance, Stockbroking
Location: Windhoek
Contract: Permanent
Remuneration: Market Related
EE position: No
Introduction
Support the overall remuneration and rewards strategy for the organization by assisting in the development, implementation, and maintenance of compensation programs that attract, retain, and motivate top talent while ensuring compliance with relevant regulations and industry best practices. Responsible for the administration, implementation, and monitoring of remuneration, reporting on employee costs and related, employee benefits, job grading policies, procedures and systems in support of the overall Group remuneration philosophy.
Job description
Key Performance Areas (KPAs)
1. REMUNERATION MANAGEMENT
• Assist Remuneration Manager in the development of reward policy, market benchmarking retention trends, recognition schemes, reward projects and other reward initiatives to increase reward consultation services and objectives.
• Assist with the annual remuneration review process, performance bonuses and promotions as required by Executive Management of Group.
• Assist with the development the Group’s salary band/ranges and make recommendations on annual movement.
• Responsible for the design, evaluation and modification of the Group’s Remuneration and Benefits Policy/ Procedures and Guidelines to ensure that remuneration practices are current, competitive and in compliance with legal requirements.
• Identify and present mitigating action to escalate and prevent risks identified.
• Research trends in remuneration and identify creative and innovative remuneration structures to assist with the development and implementation of retention schemes to contribute to Capricorn Group attracting, engaging, and retaining high performing employees.
• Partner with HC Business Partners on differentiated benefits and remuneration approaches.
• Consult directly with HC Business Partners when requested by business to help manage complex design or implement issues related to Remuneration.
• Responsible for remuneration offer process by engaging HC Business Partners\Group HC Business Partners and Recruitment Team.
• Leverage external vendors as required to support the design and delivery of Group-wide reward programmes.
• Analyse global market trends and identify/anticipate future business benefits and remuneration needs.
• Periodic review of market comparison analysis (eg Industry compensation) for the purpose of benchmarking and formulation of compensation policies and procedures.
• Conduct period audits in respect of remuneration changes, i.e. Cost to Company report against Payroll processing.
2. ANNUAL SALARY SURVEYS
• Prepare survey data spreadsheets as required by survey houses.
• Complete Survey Questionnaires.
• Submit information to survey houses timeously.
• Attend survey feedback meetings if and when required.
• Prepare feedback to Group Executive Human Capital & Citizenship/ Executive Officer: Human Capital on survey results.
• Manage compliance to compensation regulations.
3. PACKAGE STRUCTURING
• Assist staff on total remuneration package with the structuring of remuneration packages to ensure that packages are structured in accordance with internal remuneration principles and Namibian Income Tax legislation.
• Ensures remuneration and benefits are competitively packaged and aligned to the Group Reward Philosophy.
4. JOB EVALUATION PROCESS
• Assist with the prepare job descriptions, job analysis, job evaluations and job classifications where required.
5. CUSTOMER SERVICE
• Ensure that all clients are handled in a professional manner with accurate information about employee remuneration.
• Ensure proper client communication skills are maintained at all times.
• Ensure that customer complaints are handled immediately with positive results.
• Ensure that clients’ requirements are identified in a flexible manner and acted on with adequate solutions.
• Ensure timeous completion of all correspondence to clients.
6. TRAINING
• Assist with Remuneration and Reward related training and implementation of new Remuneration and Reward interventions.
7. PERFORMANCE MANAGEMENT
• Review and discuss performance contract and development plan with Line Manager.
8. GENERAL
• Ensure proper record keeping
• Ensure proper knowledge of systems and procedures
• Ensure timeous completion of all correspondence to clients
Prepared and willing to do any other reasonable and lawful instruction as given to the incumbent by his/her line manager.
Core Competencies:
• Deciding and Initiating Action
• Adhering to principles & values
• Presenting and Communicating Information
• Writing and Reporting
• Relating and Networking
• Analysing
• Planning and Organising
• Delivering Results and Meeting Customer Expectations
Technical Competencies/ Professional Expertise
• Knowledge of job evaluation methodology and principles
• Knowledge of benchmarking techniques
• Knowledge of research methodology
• Knowledge of Payroll & HR Systems
• Knowledge of Tax and Labour Legislation
• Survey administration techniques
• Microsoft Office
• Excel (Intermediate to advanced)
• Power BI knowledge
Minimum requirements
Experience/Knowledge & Skills
• At least 5 years’ experience in Remuneration
• Prior experience in human resources, compensation, or benefits administration is preferred but not mandatory for entry-level candidates.
• Familiarity with labor laws, regulations, and best practices related to compensation and benefits.
• Proficient with Microsoft Office including Microsoft Word, Excel, and Power Point software application.
• Detail-oriented (especially regarding effectively managing and documenting employee organizational developmental issues and investigations)
• Strong presentation skills and facilitation experience, needed to effectively deliver a variety of HR-related training programs to groups of managers/colleagues.
• Exceptional written and verbal skills, including ability to effectively communicate with managers and colleagues at all levels within the organisation.
• Knowledge of Human Resources systems
• Experience with financial/analytical modelling
• Strong analytical skills with the ability to interpret data and provide meaningful insights.
QUALIFICATION
• Bachelor’s degree in human resources, Business Administration, Finance, Remuneration Management, or related field
