Remuneration Consultant at Nedbank

Job Purpose

To provide a specialist Remuneration (Rem) and Benefit consultancy service to Human Resources (HR) and Line Management and facilitate and monitor alignment to Nedbank Group Policy and local and international best practice, and to ensure fair and equitable remuneration practises.

Job Responsibilities

• Ensure relevance and enable delivery against business objectives by providing input into development and maintenance of relevant systems and processes.
• Provide remuneration services in a cost effective manner and within agreed timelines through effective planning and within risk parameters.
• Give advice on remuneration and benefits processes by engaging with stakeholders.
• Provide thought leadership on remuneration and benefits issues through keeping abreast of developing practice trends and integrating this into an integrated service delivery approach.
• Enhance credibility and trust and enable the implementation of remuneration solutions by partnering with Line HR and through providing education and guidance.
• Understand and deliver on client business needs by engaging with internal stakeholders and vendors and build professional relationships through stakeholder engagement and managing their expectations.
• Network with industry counterparts through engagement at forums, workshops, and user groups. Establish industry best practises by obtaining comparative data from the remuneration market through research and identifying market trends.
• Understand how service providers can add value to Nedbank by building collaborative relationships.
• Build Reward and Performance brand among clients through relationship building and expert delivery. Provide total rewards consultancy services by keeping abreast of policy, process and legislative changes.
• Support the business in pursuit of their business objectives by resolving queries around Remuneration and Benefit matters.
• Ensure policy alignment to Group Human Resources by facilitating the implementation of group reward policy and processes and by measuring effectiveness and escalating deviations.
• Coordinate annual salary reviews within own clusters by providing training, communicating timelines and monitoring progress.
• Analyse and communicate remuneration survey results to stakeholders through participating in or commissioning employee remuneration surveys. Analyse market competitiveness and pay differentials.
• Comply with risk standards, monitor and take corrective action by participating in audits, providing information as required or recommended and through implementing mitigation measures.
• Enable decision making using analytics and MIS data. Improve personal capability and stay abreast of developments in field of expertise by identifying training courses and career progression for self through input and feedback from management.
• Ensure personal growth and application of new competence in function and enable effectiveness in performance of roles and responsibilities by completing all personal development plan activities within specified timeframes.
• Obtain buy-in for developing new and/or enhanced processes (e.g. operational processes) from stakeholders by highlighting benefits in support of the implementation of recommendations.
• Contribute to a culture conducive to the achievement of transformation goals by participating in Nedbank Culture building initiatives. Support corporate citizen activities by participating in Nedbank corporate citizen initiatives. Achieve business strategy by participating and supporting corporate social responsibility initiatives.
• Influence the improvement or enhancement of business processes and methodologies by researching and recommending improvement initiatives and effective ways to operate and add value to Nedbank.

People Specification

Essential Qualifications - NQF Level

• Matric / Grade 12 / National Senior Certificate
• Professional Qualifications/Honour’s Degree

Preferred Qualification

• Honours Degree in HR or Finance; Global Remuneration Practitioner

Minimum Experience Level

• 5 years of working experience in an HR or analytical field, of which 4 years should have been in a reward environment

Technical / Professional Knowledge

• Banking knowledge
• Banking procedures
• Business Acumen
• Industry trends
• Microsoft Office
• Principles of project management
• Relevant regulatory knowledge
• Relevant software and systems knowledge
• Remuneration policies and principles
• Risk management process and frameworks
• Tax law
• Business writing skills
• Cluster Specific Operational Knowledge

Behavioral Competencies

• Building Partnerships
• Communication
• Customer Focus
• Planning and Organizing
• Quality Orientation
• Technical/Professional Knowledge and Skills