Remuneration Consultant at Old Mutual

Job Description

Provides expert remuneration and benefits consultation and delivery services to line managers and HC partners across the OMIG business. Provides input on Total Reward Philosophy & strategy for OMIG so as to align with the Business and Talent Strategy. Supports the delivery & execution of all Reward and Benefits processes for the OMIG business, including management of TGP, Variable pay and Long-term Incentives. Manages all aspects of gathering external market data and appropriately benchmarking OMIG roles, including identifying, developing and maintaining relationships with relevant internal and external parties. Ensures alignment of OMIG Remuneration practice to OML group remuneration governance.

• This role analyses Remuneration Data and makes recommendations taking the impact on other practices into account (attraction, recruitment, retention, reward, development, performance management)

• Supports the delivery of Remuneration and Benefits processes through own efforts over periods of up to 1 year

• Manages the planning, preparation, communication and execution of annual review cycle

• Manages the ongoing appropriate benchmarking of all jobs and across all levels according to market benchmarks and the asset management industry best practice

• Manages the annual variable pay cycle, including preparation of line management and appropriate planning, communication and execution.

• Ensures appropriate stakeholder management (line managers, finance managers, HC partners) and co-ordination of delivery to meet tight deadlines of remuneration cycles

• Analyses data external data coming from agencies regarding external offers

• Analyses relevant data formulates views and opinions and makes remuneration recommendations taking practice impacts into account

• Ensures accurate and up to date record management of employee remuneration linked to OMIG specific schemes, and lock-ins

• Perform ad-hoc survey input and analysis as required for OMIG business units

• Consults with HR Business Partners on all aspects of standard reward and benefit policies and processes

• Does total reward market benchmarking for new and existing roles before advertising vacancies

• Does appropriate comparisons (internal/external equity) of external candidates in preparation for appropriate total pay (TGP, VP, Lock-ins) before making external hire offers

• Conducts job evaluations of new and existing roles to ensure consistency and appropriateness of job levels across the business

• Participates in adhoc projects related to restructures, and benchmarking of roles impacted by restructures

• Develops metrics and reports on elements of Reward and Benefits expenditure in the business

• Gives input into HR policy development to ensure alignment with national legislative requirements, business and local needs and, where appropriate, seek standardisation across business streams

• Monitors policy and procedure compliance and conducts research in order to analyse/ predict market trends and makes recommendations based on findings

• Provides data and drafts remuneration reports including inputs to Remcom papers for submission to the Head of HC and the MD and the OMIG Remcom board

• Engages with the OM Investments Head of Reward, and OML Remuneration Centre of Excellence as required to ensure that OMIG is updated on changing Remuneration practice

Requirements: Skills, Qualifications and Experience required

• Bachelor of Commerce or similar degree; post graduate preferable

• Global Remuneration Professional Certificate SA Reward Association with World at Work very advantageous

• 8 to 10 years’ experience as a remuneration consultant with experience managing variable pay and complex incentive schemes, preferably within an investment business

• Highly numerate; strong excel skills

• Strong communication and writing skills

Essential Behavioural Criteria

• Interpreting Data Interprets data rationally by quantifying issues; applies technology as a means to evaluating data; evaluates information objectively

• Embracing Change Copes with change and variety; tolerates uncertainty and ambiguity; adapts to new challenges

• Providing Insights Is focused on continuously improving things; provides insights by identifying key issues; makes intuitive judgments

• Taking Action Takes action to make things happen; uses initiative to start things up; shows drive and invests personal energy

• Generating Ideas Is creative in producing ideas; assumes an original approach when generating ideas; adopts radical solutions

• Examining Information Analyses and processes information; asks probing questions; strives to find solutions to problems

• Adopting Practical Approaches Applies practical skills when investigating issues; prefers to learn by doing; is practically minded and applies common sense

• Articulating Information Is articulate in giving presentations; is eloquent and explains things well; projects social confidence when articulating information

Skills

Communication, Microsoft Excel, Numerical

Education

Bachelor Commerce (Required)

Closing Date

16 September 2021